Core Viewpoint - Integer Holdings Corporation is addressing the impact of tariffs on its business, estimating a potential effect of $1 to $5 million on full year adjusted operating income due to recent trade policy developments [2][6]. Company Overview - Integer Holdings Corporation (NYSE:ITGR) is a leading contract development and manufacturing organization in the medical device sector, focusing on cardiac rhythm management, neuromodulation, and cardiovascular markets [4]. - The company is recognized as a strategic partner for medical device companies and OEMs, committed to enhancing patient lives through innovative and high-quality products [4]. Financial Impact - The estimated impact of tariffs on Integer's adjusted operating income incorporates both currently applicable tariffs and additional tariffs announced on April 2, which will take effect after a 90-day pause [2]. - The company plans to release its financial and operational results for the first quarter of 2025 on April 24, 2025 [3].

PLANO, Texas, March 27, 2025 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (NYSE: ITGR) announced today that it plans to release financial and operational results for first quarter 2025 at 7 a.m. Central Time (CT) / 8 a.m. Eastern Time (ET) on Thursday, April 24, 2025. Following the release, Integer management will host a webcast at 8 a.m. CT / 9 a.m. ET to discuss these results. Other forward-looking and material information may also be discussed during this call. Conference call details: Date: Thursday ...

Core Viewpoint - Integer Holdings Corporation has successfully closed a $1.0 billion offering of 1.875% convertible senior notes due 2030, which is expected to enhance its capital structure and reduce interest expenses, thereby positively impacting adjusted earnings for 2025 [1][2]. Financial Impact - The offering was upsized from an initial $750 million to $875 million due to strong investor demand, with an additional $125 million purchased by initial purchasers [1][2]. - The transaction is projected to lower interest expenses by approximately $12 million in 2025, based on current outstanding debt and interest rates [2]. - The estimated net proceeds from the offering will be $976.1 million after deducting discounts and expenses, which will be used for various financial obligations including repaying existing debt [2]. Strategic Objectives - The transaction creates revolver capacity, allowing the company to continue its tuck-in acquisition strategy while maintaining a targeted leverage range of 2.5 to 3.5 times adjusted EBITDA [2]. - The structure of the convertible notes and associated capped calls is designed to mitigate potential dilution for investors in the future [2][3]. Conversion Details - Upon conversion, the principal amount of the notes will be paid in cash, with an effective conversion price set at $189.44, representing a 60% premium over the company's common stock closing price of $118.40 on March 13, 2025 [3]. - The company has the option to minimize future dilution by delivering the value of any conversion obligation owed in cash or a combination of cash and shares [3]. Company Overview - Integer Holdings Corporation is a leading medical device contract development and manufacturing organization, serving various markets including cardiac rhythm management and neuromodulation [4]. - The company is committed to providing innovative, high-quality products and solutions to enhance patient lives globally [4].

Core Viewpoint - Integer Holdings Corporation has successfully closed a $1.0 billion offering of 1.875% convertible senior notes due 2030, which is expected to enhance its financial structure and reduce interest expenses, thereby positively impacting adjusted earnings for 2025 [1][2]. Financial Impact - The offering was upsized from an initial $750 million to $875 million due to strong investor demand, with an additional $125 million purchased by initial purchasers [1]. - The transaction is projected to lower interest expenses by approximately $12 million in 2025, contributing to adjusted earnings [2]. - The estimated net proceeds from the offering will be $976.1 million after deducting discounts and expenses, which will be used to pay for capped call transactions, exchange existing convertible notes, and repay outstanding borrowings [2]. Strategic Objectives - The transaction creates revolver capacity, allowing the company to continue its tuck-in acquisition strategy while maintaining a targeted leverage range of 2.5 to 3.5 times adjusted EBITDA [2]. - The structure of the convertible notes includes capped calls that mitigate potential dilution for investors upon conversion [2][3]. Company Overview - Integer Holdings Corporation is a leading medical device contract development and manufacturing organization, serving various markets including cardiac rhythm management and neuromodulation [4]. - The company is committed to providing innovative, high-quality products and solutions to enhance patient lives globally [4].

Core Viewpoint - Integer Holdings Corporation has announced the pricing of an upsized offering of $875 million in 1.875% convertible senior notes due 2030, indicating strong market interest and financial strategy [1][2]. Offering Details - The offering was increased from an initial size of $750 million to $875 million, with an option for initial purchasers to buy an additional $125 million [1][2]. - The expected closing date for the offering is March 18, 2025, pending customary closing conditions [2]. Financial Proceeds and Use - The net proceeds from the offering are anticipated to be approximately $853.9 million, or $976.1 million if the additional notes option is fully exercised [4]. - Approximately $62.1 million of the net proceeds will be allocated to cover the costs of capped call transactions [4]. - The remainder of the proceeds will be used for repaying borrowings, accrued interest, and general corporate purposes [6]. Convertible Notes Characteristics - The convertible notes will have a 1.875% annual interest rate, payable semi-annually, and will mature on March 15, 2030 [7]. - The initial conversion price is set at approximately $150.96 per share, representing a 27.5% premium over the common stock's closing price of $118.40 on March 13, 2025 [7]. - The conversion rate will be 6.6243 shares of common stock per $1,000 principal amount of convertible notes [7]. Capped Call Transactions - The company has entered into capped call transactions to mitigate potential dilution from the convertible notes [10]. - The cap price for these transactions is set at $189.44 per share, a 60% premium over the last reported sale price of the common stock [3]. Note Exchange Transactions - Concurrently, the company is engaging in note exchange transactions to exchange approximately $383.7 million of existing convertible senior notes due 2028 [5]. - The company expects to issue around 1.6 million shares of common stock as part of these transactions [5]. Market Impact - The activities related to the convertible notes and capped call transactions may influence the market price of the company's common stock, potentially affecting the conversion price of the notes [11][12].

Core Viewpoint - Integer Holdings Corporation plans to offer $750 million in convertible senior notes due 2030, with an option for initial purchasers to buy an additional $125 million [1][2]. Group 1: Offering Details - The convertible notes will be senior unsecured obligations, maturing on March 15, 2030, and will accrue interest payable semi-annually [5]. - The company intends to use part of the net proceeds to pay for capped call transactions and to exchange existing convertible senior notes due 2028 [3][4]. - The notes will be convertible under specific conditions before December 15, 2029, and at any time thereafter until two trading days before maturity [5]. Group 2: Capped Call Transactions - Capped call transactions are expected to reduce potential dilution of the company's common stock upon conversion of the notes [7]. - The company anticipates that option counterparties will engage in stock transactions that could influence the market price of the company's common stock [8][9]. Group 3: Note Exchange Transactions - The company plans to enter into note exchange transactions with holders of existing convertible notes, which may lead to significant market activity affecting the stock price [10][11]. - The company will terminate existing capped call transactions corresponding to the amount of existing notes exchanged, which may also impact the market price of the common stock [11]. Group 4: Company Overview - Integer Holdings Corporation is a leading medical device contract development and manufacturing organization, serving various markets including cardiac rhythm management and neuromodulation [14].

Company Overview - Integer Holdings (ITGR) shares increased by 3.8% to close at $122.73, following a notable trading volume, despite a 15.2% loss over the past four weeks [1] - The company has a positive outlook for 2025, projecting 8%-10% sales growth and double-digit EPS growth, which has enhanced investor confidence [2] Financial Performance - Integer is expected to report quarterly earnings of $1.29 per share, reflecting a year-over-year increase of 13.2%, with revenues anticipated at $434.1 million, up 4.7% from the previous year [3] - The consensus EPS estimate for the upcoming quarter has been revised 3.4% lower over the last 30 days, indicating a negative trend in earnings estimate revisions [4] Strategic Positioning - Recent acquisitions in Electrophysiology, Neurovascular, and Surgical Robotics are projected to generate approximately $240 million in annualized sales, positioning the company for growth in high-demand therapeutic markets [2] - Integer's disciplined capital allocation and robust product development pipeline are expected to support sustained above-market growth, benefiting both patients and shareholders [2] Industry Context - Integer operates within the Zacks Medical - Instruments industry, where another company, KORU Medical Systems Inc. (KRMD), has seen a 0.9% increase in its stock price, although it has experienced a 30.7% decline over the past month [4] - KORU Medical's consensus EPS estimate remains unchanged at -$0.03, representing a 50% decrease compared to the previous year [5]

Core Viewpoint - Integer Holdings Corporation (ITGR) demonstrated solid revenue growth in Q4 2024, with revenues of $449.5 million, an increase of 8.8% year over year, although EPS of $1.43 missed estimates by 3 cents due to short-term cost pressures [1][2] Financial Performance - Q4 2024 revenues reached $449.5 million, marking an 8.8% year-over-year increase [1] - EPS for Q4 2024 was $1.43, missing estimates by 3 cents [1] - For 2025, ITGR projects sales growth of 8-10% and adjusted operating income growth of 11-16% [1] Stock Performance - ITGR's share price has declined by 4.4% since February 20, following the earnings release [2] - Over the past year, ITGR shares have increased by 18%, compared to the industry’s growth of 1.7% [2] - The current P/E forward 12-month ratio for ITGR is 20.9X, below the industry average of 32.01X, but above its five-year median of 18.53X [5] Growth Drivers - Organic sales are expected to grow by 6-8% in 2025, outpacing the estimated market growth of 4-6% [8] - New product launches and strong demand in high-growth segments like electrophysiology and structural heart are key contributors [8] - Recent acquisitions, including Precision Coating for $152 million and VSi Parylene for $28 million, are projected to add $59 million in revenues in 2025 [9] - Manufacturing efficiencies are expected to drive adjusted operating income growth of 11-16% in 2025 [10] - Investments in renal denervation and next-gen cardiac devices position the company well for future demand [11] Challenges - Potential headwinds from new U.S. tariffs on imports could complicate operations, especially with significant manufacturing in Mexico [16] - Initial inefficiencies and workforce training related to scaling new product lines may pressure gross margins in early 2025 [17] Earnings Estimates - Mixed performance in earnings estimates, with Q1 2025 EPS estimate declining by 3% while Q2 improved by 1.4% [12] - Full-year 2025 EPS estimate remains unchanged at $6.01, with projected sales growth of 7.5% and EPS growth of 13.4% [12]

Core Viewpoint - Integer Holdings Corporation (ITGR) reported mixed financial results for the fourth quarter of 2024, with adjusted earnings per share (EPS) slightly missing estimates, while revenues exceeded expectations, indicating strong performance in most product lines despite some challenges in Other Markets [1][3][16]. Financial Performance - Adjusted EPS for Q4 2024 was $1.43, a 1.4% increase year over year, but missed the Zacks Consensus Estimate by 2.1% [1] - GAAP EPS for the quarter was 91 cents, reflecting a 15.2% year-over-year improvement [2] - Full-year 2024 EPS was $5.30, up 14.9% from 2023, but lagged the Zacks Consensus Estimate by 0.6% [2] Revenue Analysis - Q4 2024 revenues reached $449.5 million, an 11.1% increase year over year, surpassing the Zacks Consensus Estimate by 0.8% [3] - Organic revenue growth for Q4 was 10.6% [3] - Full-year 2024 revenues totaled $1.72 billion, reflecting a 10.3% increase from 2023, aligning with the Zacks Consensus Estimate [3] Segment Performance - Cardio and Vascular (C&V) revenues were $255.3 million, up 14.7% year over year [7] - Cardiac Rhythm Management & Neuromodulation (CRM&N) revenues were $170.5 million, up 11.3% year over year [8] - Other Markets revenues were $23.7 million, down 17.3% year over year, attributed to the planned exit from Portable Medical [9] Margin and Expense Analysis - Gross profit for Q4 was $116.8 million, a 6.6% increase year over year, but gross margin contracted to 25.9% [10] - Selling, general and administrative expenses rose to $47.5 million, up 4.8% year over year [11] - Adjusted operating profit was $58.7 million, reflecting a 14.6% increase year over year, with adjusted operating margin expanding to 13.1% [11] Financial Position - Cash and cash equivalents at the end of 2024 were $46.5 million, up from $23.7 million at the end of 2023 [12] - Total debt increased to $990.2 million from $959.9 million at the end of 2023 [12] - Cumulative net cash flow from operating activities was $205.2 million, compared to $180.2 million a year ago [12] Future Guidance - For 2025, the company expects revenues between $1.846 billion and $1.880 billion, indicating an 8-10% improvement from 2024 [13] - Full-year adjusted EPS is projected to be in the range of $5.84-$6.20, representing a 10-17% increase from 2024 [13] Strategic Developments - The company continues to execute its strategy by launching new products and expanding capabilities, including the acquisition of Precision Coating and a definitive agreement to acquire VSi Parylene [15] - Management has rebranded its Advanced Surgical, Orthopedics & Portable Medical product line to Other Markets to better reflect its strategic focus [6]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________ FORM 10-K _____________________________________ ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Fiscal Year Ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ ...