Integer Holdings (ITGR): Q4 Revenue Beats Expectations, Full-Year Outlook Exceeds Estimates

Key Highlights:

* Revenue: $449.5 million vs. analyst estimates of $446.8 million (11.1% year-over-year growth, 0.6% beat)
* Adjusted EPS: $1.43 vs. analyst expectations of $1.46 (2% miss)
* Adjusted EBITDA: $95.07 million vs. analyst estimates of $98.03 million (21.1% margin, 3% miss)

Full-Year Outlook:

* Revenue guidance: $1.86 billion, 1.1% above analyst estimates
* Adjusted EPS guidance: $6.02, 0.7% below analyst estimates
* EBITDA guidance: $411.5 million, exceeding analyst estimates
* Operating margin: 12.7%, up from 10.8% last year
* Free cash flow margin: 9.8%, up from 4.6% last year
* Organic revenue growth: 10.6% year-over-year

Financial Performance:

* 5-year annualized revenue growth of 6.4%
* Last two years annualized revenue growth of 11.7%
* Operating margin of 12.1% for the trailing 12 months
* Earnings per share (EPS) growth of 2.5% compounded annual growth rate over the last five years

Analyst Sentiment:

Analysts expect revenue growth of 7.5% over the next 12 months.

Market Reaction:

Despite beating revenue expectations, the stock traded down 1.4% after reporting.

Conclusion:

Integer Holdings delivered a mixed quarter with strong revenue and EBITDA guidance but missed EPS and EBITDA expectations. The full-year outlook provides some optimism, but the overall picture remains uncertain. The market's negative reaction suggests investor concerns about the EPS miss.