The earnings call highlighted significant growth in procedures, revenue, and the expansion of the Ion platform, alongside strong international performance and positive feedback on new products. However, there were challenges in specific international markets, particularly in Europe, South Korea, and China, as well as a decline in U.S. bariatric procedures.

Company Guidance

During the Intuitive Surgical earnings call for Q3 2024, several metrics were highlighted in the guidance. The company raised its full-year 2024 procedure growth forecast to a range of 16% to 17%, up from the previous range of 15.5% to 17%. This adjustment considers potential headwinds in Asia, such as physician strikes in Korea and challenges in China due to delayed tenders and domestic competition. The guidance for pro forma gross profit margin remains at 68.5% to 69% of net revenue, with expectations for operating expense growth adjusted to a range of 10% to 12%, down from the earlier forecast of 10% to 13%. Intuitive also projected other income to reach between $325 million and $345 million for 2024, with capital expenditures expected to be between $1 billion and $1.2 billion. The pro forma income tax rate for the year is estimated to be between 22% and 23%.

Strong Procedure and Revenue Growth

Q3 2024 saw an 18% growth in Da Vinci procedures and a 17% increase in revenue compared to the previous year. The company installed 379 Da Vinci systems, including 110 of the new Da Vinci 5 systems.

Ion Platform Expansion

Ion procedures grew 73% to approximately 25,000 in Q3 2024. The installed base of Ion systems increased by 50% year-over-year to 736 systems.

Notable International Growth

The 5-year compound annual growth rate for procedures was 21% in Europe and 25% in Asia. Da Vinci procedure growth in Q3 was particularly strong in the U.K., Japan, Germany, France, and India.

Da Vinci 5 Launch and Adoption

The company successfully installed 110 Da Vinci 5 systems in Q3 and reported positive feedback on performance and efficiency improvements.

Operational and Financial Efficiency

Pro forma operating margin improved to 36% year-to-date, with a gross margin of 69.1% in Q3 2024, aided by reduced logistics and component costs.

---

Intuitive Surgical (ISRG) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

ISRG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jan 23, 2025	2024 (Q4)	1.75 / -	1.6	―	―	―
Oct 17, 2024	2024 (Q3)	1.64 / 1.84	1.46	26.03% (+0.38)	―
Jul 18, 2024	2024 (Q2)	1.54 / 1.78	1.42	25.35% (+0.36)	―
Apr 18, 2024	2024 (Q1)	1.42 / 1.50	1.23	21.95% (+0.27)	―
Jan 23, 2024	2023 (Q4)	1.48 / 1.60	1.23	30.08% (+0.37)	―
Oct 19, 2023	2023 (Q3)	1.42 / 1.46	1.19	22.69% (+0.27)	―
Jul 20, 2023	2023 (Q2)	1.33 / 1.42	1.14	24.56% (+0.28)	―
Apr 18, 2023	2023 (Q1)	1.20 / 1.23	1.13	8.85% (+0.10)	―
Jan 24, 2023	2022 (Q4)	1.25 / 1.23	1.3	-5.38% (-0.07)	―
Oct 18, 2022	2022 (Q3)	1.14 / 1.19	1.19	0.00% (0.00)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

---

ISRG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 17, 2024	$473.73	$521.15	+10.01%
Jul 18, 2024	$416.14	$455.01	+9.34%
Apr 18, 2024	$372.63	$366.34	-1.69%
Jan 23, 2024	$371.41	$370.07	-0.36%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

---