ICU Medical, Inc. (ICUI) Earnings
ICU Medical, Inc. is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $1.91. ICUI has beaten EPS estimates in 12 of its last 12 reported quarters (average surprise +28.0% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $1.78 | $1.97 | +10.7% | $526M | +1.0% |
| Feb 19, 2026 | $1.68 | $1.91 | +13.7% | $540M | +3.6% |
| Nov 6, 2025 | $1.43 | $2.03 | +42.0% | $537M | +5.0% |
| Aug 7, 2025 | $1.44 | $2.10 | +45.8% | $549M | +7.3% |
| May 8, 2025 | $1.23 | $1.72 | +39.8% | $605M | +0.2% |
| Feb 27, 2025 | $1.48 | $2.11 | +42.6% | $630M | +5.1% |
| Feb 27, 2024 | $1.18 | $1.57 | +33.1% | $588M | +4.4% |
| Feb 27, 2023 | $1.50 | $1.60 | +6.7% | $578M | -0.1% |
| Feb 24, 2022 | $1.63 | $1.82 | +11.7% | $341M | +6.4% |
| Nov 3, 2021 | $1.79 | $2.07 | +15.6% | $336M | +6.9% |
| Aug 4, 2021 | $1.64 | $1.88 | +14.6% | $322M | +3.3% |
| May 6, 2021 | $1.53 | $1.62 | +5.9% | $318M | +5.7% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Vivek Jain walked through Q1 revenue and earnings, commenting on businesses. Brian Bunnell recapped Q1 P&L, balance sheet, and cash flow. Product development initiatives: consumables had new 510K submissions, infusion systems received FDA approval on LifeShield safety software but new hardware submissions face more FDA testing. Near-term goals include more balanced IV systems growth and lower cash consumption in integration/remediation activities. Strategic goals involve building a comprehensive infusion therapy company, investing in R&D and manufacturing, and exiting certain non-core product lines in vital care
Guidance
Previously provided full-year guidance remains applicable. There are risks and opportunities from macroeconomic factors and trade policies, but impacts are largely offset. Tariffs are expected to be slightly lower in the second and third quarters, and the benefit from lower tariffs and accelerated operational efficiencies should offset higher diesel costs. Full-year free cash flow guidance is to improve on the previous year and be close to $150 million
Segment performance
Total company revenue was $526 million, with 1% organic growth or -12% reported. Consumables business saw 5% reported growth and 2% organic growth. IV systems business had 8% reported growth and 6% organic growth, with a record quarter in pumps. Vital care decreased 14% organically and 59% reported due to the deconsolidation of IV solutions from the income statement
Risks & headwinds
Risks such as oil price impact on diesel costs increasing logistics expense, uncertainty around tariffs and new trade frameworks, and risks related to product development and regulatory approvals for new infusion system hardware
Analyst Q&A
Q: Inquired about infusion systems growth, LVP growth, timing on new hardware, vital care exit, and free cash flow.
A: LVP was the strongest growth driver, new hardware testing takes time, vital care exit related to a shrinking product line, and full-year free cash flow is guided to be close to $150 million.
Q: Asked about systems business growth timing and consumables hospital volume trends.
A: Systems business growth is more balanced due to better synchronization of installations, and January weakness is part of historical Q1-Q4 sequential decline.
Q: Questioned about Smith's warning letter, consumables customer pipeline, and infusion systems growth calendarization.
A: Smith's warning letter is resolved, customer pipeline is active for competitive pump situations, and infusion systems growth for the full year remains as originally guided but with less back-end weighting.
Q: Inquired about guidance commentary, price points, vital care exit revenue, and replacement cycle.
A: Higher logistics costs are offset by lower tariffs and accelerated efficiencies, price points are held firm as technology is commensurate with value, vital care exit doesn't provide deep guidance, and replacement cycle opportunities are starting but energy is towards the end of the year.
Q: Asked about gross margin sustainability, guidance reiteration, and share trends.
A: Gross margin is improving, the original guidance is still held, and the company prefers not to comment on share trends as results speak for themselves