The following is a summary of the Integra LifeSciences Holdings Corporation (IART) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Integra LifeSciences reported Q3 2024 total revenue of $381 million, experiencing an 8.6% decrease in organic revenue year-over-year.

• Adjusted EPS for the quarter was $0.41, marking a 46% decrease from the previous year.

• Gross margin for Q3 2024 was 63%, down 160 basis points compared to Q3 2023.

• Adjusted EBITDA margins dropped significantly to 16.2%, a reduction of 680 basis points compared to the same period last year.

Business Progress:

• Integra LifeSciences is focused on addressing supply challenges and has made progress in resolving shipping holds impacting their CSS business.

• The company highlighted the successful integration of the Acclarent business, which continues to exceed performance expectations, particularly in the ENT segment.

• Upgrades and investments are ongoing in facilities and equipment to improve quality, resilience, and capacity, aiming to meet long-term customer demand.

• Construction at the Braintree facility is largely complete, with equipment installation in progress, targeting production resumption in the first half of 2026.

Opportunities:

• The future looks promising with the leadership transition to Mojdeh Poul, who brings nearly three decades of healthcare executive experience and a track record in operational excellence and innovation, poised to drive the next phase of growth and performance.

• There are significant growth opportunities in the ENT and neurosurgery segments, supported by strong product demand and geographic expansion efforts, particularly in international markets.

Risks:

• Ongoing supply chain challenges and quality holds continue to constrain product availability, impacting revenue performance.

• The company is working through compliance and manufacturing issues that necessitate product holds, which need resolution to stabilize and improve future performance.

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