Strong Year-Over-Year Sales and Income Growth
Sales grew 9% in Q3 2024, with adjusted operating income increasing by 17%. Year-to-date, sales have grown 10% and operating income is up 23%, significantly outpacing sales growth.
Improved Profit and Earnings Outlook
The company has raised the midpoint of its full-year profit and earnings per share outlook, expecting a 20% adjusted operating income growth and a 16% year-over-year growth in adjusted EPS.
Successful Strategy Execution Leads to Divestiture
Integer announced a definitive agreement to divest Electrochem, making it a pure-play medical technology company, expected to generate $50 million in cash.
Manufacturing Efficiency Gains
The company's Manufacturing Excellence Initiatives are leading to operational improvements, including a reduction in direct labor turnover and material scrap, with significant improvements in gross margins.