Intuitive Surgical Q1 Slightly Ahead Of Expectations, Revises FY22 Outlook

Loading...
Loading...
  • Intuitive Surgical Inc ISRG reported Q1 FY22 adjusted EPS of $1.13, ahead of the consensus of $1.08.
  • It reported revenues of $1.49 billion, +15% Y/Y, marginally ahead of Wall Street's estimate of $1.43 billion, driven by growth in da Vinci procedure volume and system placements.
  • Worldwide da Vinci procedures increased approximately 19% Y/Y, with placements of 311 systems, resulting in an expansion of the installed base of da Vinci systems of roughly 13%.
  • According to the Q1 conference call, system average selling prices were $1.54 million, higher than the $1.45 million last quarter. 
  • Instrument and accessory revenue per procedure were approximately $1,870 compared with $1,940 in Q4 FY21 and down 4% from $1,950 realized a year ago.
  • Pro forma gross margin of 69.8% was lower than 71.8% a year ago and 70.1% last quarter, primarily due to higher logistics and increased fixed costs.
  • Guidance: During 2022, Intuitive Surgical anticipates procedure growth of 12% - 16% versus prior guidance of 11%-15%, the lower end assumes ongoing COVID pressure and hospital staffing shortages.
  • The company expects a pro forma gross profit margin of 69% - 70.5%, versus the previous range of 69.5% - 70.5%.
  • The lower end of the range was updated to reflect the impact on input costs related to supply chain inflation and some impact from a stronger U.S. dollar.
  • Price Action: ISRG shares are down 4.44% at $281.50 during the premarket session on the last check Friday.
Loading...
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsLarge CapNewsGuidanceHealth CareMoversTrading IdeasGeneralBriefs
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...