Merit Medical Q4 EPS Rises 12% to $1.04, Revenue Grows 11%
Merit Medical reported Q4 adjusted EPS of $1.04, up 12% year over year and beating estimates by 8.3%, while GAAP EPS rose 37% to $0.63. Revenues totaled $393.9 million, up 11% year over year, with U.S. sales up 12% to $238.2 million and international sales up 9.9% to $155.7 million; 2026 guidance calls for $1.61–$1.63 billion in revenues.
1. Q4 Financial Highlights
Merit Medical’s Q4 adjusted EPS rose 12% to $1.04, surpassing estimates by 8.3%, while GAAP EPS jumped 37% to $0.63. Revenues reached $393.9 million, up 11% year over year, driven by robust demand across key product lines.
2. Segment and Geographic Performance
The Cardiovascular segment generated $373.9 million in Q4 sales, up 11%, with cardiac intervention revenues surging 23% and peripheral intervention up 15%. Endoscopy revenues climbed 15% to $20.1 million, and U.S. sales increased 12% while international sales rose 9.9%.
3. Margin Expansion and Cash Flow
Gross profit expanded 12.9% to $195.3 million, pushing adjusted gross margin up 100 basis points to 54.5%. Adjusted operating margin widened 140 basis points to 21%, and cash and equivalents grew to $446.4 million as operating cash flow reached $297.4 million.
4. 2026 Outlook
For 2026, Merit Medical forecasts revenues of $1.61–$1.63 billion, reflecting 6–8% growth, and anticipates adjusted EPS between $4.01 and $4.15, representing a 5–8% increase year over year.