The San Clemente, Calif.-based infusion therapy and critical care technology developer posted profits of $25 million, or $1.16 per share, on sales of $318.6 million for the three months ended Sept. 30, 2020, for a -5.9% bottom-line slide on sales growth of 3.6%.
Adjusted to exclude one-time items, earnings per share were $1.90, 59¢ ahead of Wall Street, where analysts were looking for sales of $284.7 million.
“Third-quarter results were generally in line with our expectations and reflected improved demand for our products in the U.S.,” ICU Medical CEO Vivek Jain said in a news release.
ICU Medical said it now expects to log adjusted EPS of $6.65 to $7, compared with $5.95 to $6.65 previously, and updated its prior sales guidance for between $235 million and $245 million.
ICUI shares were up 0.9% at $190.01 per share in mid-afternoon trading today.