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LeMaitre Vascular shares rise on 130% profit gains in Q2

August 2, 2023 By Danielle Kirsh

lemaitre-vascular-logo-newLeMaitre Vascular (Nasdaq:LMAT) this week posted second-quarter results that beat the overall consensus on Wall Street.

The Burlington, Massachusetts-based company reported profits of $8.1 million, or 36¢ per share, on sales of $50.1 million, for a sales growth of 19.02% and profit gains of 130.4% compared to Q3 2022.

Earnings per share were 37¢, 5¢ ahead of The Street, where analysts were looking for sales of $45.91 million.

“16% organic sales growth and 25% adjusted EPS growth was a result of increased hospital procedures and our 9% price increase. In retrospect, our 2022 hiring surge seems well-timed,” CEO George LeMaitre said in a news release.

LeMaitre Vascular is anticipating sales of $46.5 million to $48.9 million for Q3. It expects sales for the full year to be in the range of $193 million to $197.8 million.

Shares in LMAT were up 3.6% to $65.08 apiece in mid-morning trading.

Filed Under: Catheters Tagged With: LeMaitre Vascular

About Danielle Kirsh

Danielle Kirsh is an award-winning journalist and senior editor for Medical Tubing + Extrusion, Medical Design & Outsourcing and MassDevice. She received her bachelor's degree in broadcast journalism and mass communication from Norfolk State University and is pursuing her master's in global strategic communications at the University of Florida. You can connect with her on Twitter and LinkedIn, or email her at dkirsh@wtwhmedia.com.

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