Integra LifeSciences Holdings Corporation (NASDAQ: IART) has reported its financial results for the fourth quarter and full-year 2024, as well as provided financial guidance for 2025.
In the fourth quarter of 2024, reported revenues were $442.6 million, marking an 11.5% increase from the same period in 2023. Organic revenue growth for the quarter was 3.5%. GAAP earnings per diluted share remained steady at $0.25, compared to the fourth quarter of 2023. However, adjusted earnings per diluted share saw an increase to $0.97 from $0.89 in the same period the previous year.
For the full-year 2024, reported revenues reached $1,610.5 million, representing a 4.5% increase from the prior year. However, organic sales for the full-year 2024 decreased by 1.3% compared to 2023. GAAP earnings per diluted share were reported at $(0.09), a decrease from $0.84 in 2023. Similarly, adjusted earnings per diluted share decreased to $2.56 from $3.10 in 2023.
The company's cash flow from operations for the fourth quarter totaled $50.7 million, with capital expenditures amounting to $29.6 million. For the full-year 2024, cash flow from operations was reported at $129.4 million, while capital expenditures reached $104.0 million. Integra's net debt at the end of the year was $1.5 billion, with a consolidated total leverage ratio of 4.0x. The company's total liquidity stood at approximately $1.2 billion as of year-end.
Looking ahead to 2025, Integra LifeSciences anticipates revenues to be in the range of $1,650 million to $1,715 million, representing reported growth of 2.4% to 6.5% and organic growth of 1.0% to 5.0%. Adjusted earnings per diluted share for 2025 are expected to be between $2.41 and $2.51. For the first quarter of 2025, reported revenues are projected to be in the range of $375 million to $385 million, with reported growth of 1.6% to 4.4% and organic growth of -6.2% to -3.5%. Adjusted earnings per diluted share for the first quarter are expected to range from $0.40 to $0.45.
In terms of segment performance, the Codman Specialty Surgical segment accounted for 71% of revenues in the fourth quarter of 2024, with total revenues reaching $314.7 million. This represented a reported increase of 15.8% and 4.1% on an organic basis compared to the same period in 2023. The Tissue Technologies segment, contributing 29% of revenue, reported total revenues of $128.0 million, representing a 2.1% increase on a reported and organic basis compared to the fourth quarter of 2023.
The company's full press release can be found on the investor relations section of Integra LifeSciences' website.
Integra LifeSciences is scheduled to host a conference call on February 25, 2025, at 8:30 a.m. ET to discuss the financial results and forward-looking guidance. A live webcast will also be available on the investor section of the company's website.
Integra LifeSciences Holdings Corporation is focused on driving innovation in surgical, neurologic, and regenerative care, with a comprehensive portfolio of high-quality, leadership brands.
For further details and the latest news about Integra and its products, please visit www.integralife.com. As a result of these announcements, the company's shares have moved 8.5% on the market, and are now trading at a price of $23.92. For the full picture, make sure to review Integra LifeSciences's 8-K report.
