ICU Medical Holds 2026 Outlook as Third-Quarter Revenue Rises

ICU Medical maintained its 2026 adjusted profit outlook after third-quarter revenue rose and net income turned positive, with the company expecting full-year results toward the upper ends of its guidance ranges.

On Thursday, Nov. 5, ICU Medical reaffirmed its adjusted EBITDA outlook of $415 million to $435 million and its adjusted diluted earnings-per-share range of $8.60 to $9.00. The company expects results toward the higher end of both ranges but did not give a specific point forecast.

On Aug. 6, ICU Medical raised adjusted EBITDA guidance from $400 million-$430 million to $415 million-$435 million and adjusted diluted EPS guidance from $7.75-$8.45 to $8.60-$9.00.

For the three months ended Sept. 30, revenue was $560.4 million, up from $537.0 million a year earlier. Net income totaled $26.8 million, or $1.07 per diluted share, compared with a $3.4 million net loss, or $0.14 per diluted share, in the same quarter of 2025.

Adjusted EBITDA increased to $113.9 million from $105.9 million. Adjusted diluted EPS was $2.44, compared with $2.03 a year earlier.

Revenue by product line included $298.4 million from Consumables, $192.5 million from Infusion Systems and $69.5 million from Vital Care.

ICU Medical also kept its 2026 GAAP outlook at $73 million to $83 million in net income and $2.89 to $3.29 in diluted EPS. Those figures are separate from the adjusted guidance ranges.

CEO Vivek Jain said, “Third quarter results were ahead of our expectations for Infusion Systems and generally in line with expectations for the remainder of the business.”

ICU Medical makes infusion systems, infusion consumables and critical-care products for hospitals, alternate care sites and home care. Adjusted EBITDA and adjusted diluted EPS are non-GAAP measures, which the company describes as supplemental to its GAAP results and not a replacement for them.