Why Integra LifeSciences Stock Is Tumbling
Portfolio Pulse from Adam Eckert
Integra LifeSciences Holdings Corp (IART) has initiated a voluntary global recall of products manufactured in its Boston facility, resulting in an anticipated impairment charge of $22 million for Q2. The company now expects Q2 revenue to be between $372 million and $376 million, and adjusted earnings to be between 55 cents and 59 cents per share.
May 23, 2023 | 1:28 pm
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Integra LifeSciences initiated a voluntary global recall, leading to a $22 million impairment charge for Q2 and revised revenue and earnings estimates.
Integra LifeSciences has initiated a voluntary global recall of products manufactured in its Boston facility, which will result in an impairment charge of approximately $22 million for Q2. This will negatively impact the company's financial performance, leading to revised revenue and earnings estimates for the quarter. As a result, the stock price is likely to go down in the short term.
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