Filing Flows › ICU Medical (ICUI) › Q2 2026
ICU Medical (ICUI) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 6, 2026
ICU Medical (ICUI) reported revenue of $552M for the second quarter 2026 (Q2 2026), +0.5% from a year earlier and +4% from the quarter before. Operating margin was 7.1%, net earnings $19.1M (3.5% of revenue).
ICU Medical, Q2 2026: revenue $552M (+0.5% year over year), operating margin 7.1%, net earnings $19.1M, operating cash flow $80.2M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $552M | +4% | +0.5% |
| Gross profit | $235M | +14% | +13% |
| Operating profit | $39.1M | +188% | +270% |
| Net earnings | $19.1M | -37% | -46% |
| Operating cash flow | $80.2M | +106% | +615% |
| Free cash flow | $61.7M | — | — |
What changed
Revenue was $551.7M in Q2 2026, up 1% year over year and up 4% from the previous quarter. Infusion Consumables was the largest line at 52% of revenue. Infusion Systems added $21.3M year over year (up 13%), 756% of the total change. Vital Care declined 32%.
Gross margin was 42.6%, up 4.7 points from Q2 2025. Operating profit was $39.1M, a 7.1% margin (up 5.2 points year over year). Of the extra revenue versus Q2 2025, 1013% reached operating profit, above the 2% margin then. Operating expenses fell 1% while revenue rose 1%. The fastest-growing cost line was Other operating costs (+31%). Net earnings were $19.1M, down 46% year over year. The effective tax rate was 27.0%.
Operating cash flow was $80.2M (up 615% year over year), 420% of net earnings. Non-cash charges added back $49.6M of depreciation and amortization and $11.9M of share-based compensation. After purchase of property, plant and equipment, net ($18.5M), free cash flow as the company reports it was $61.7M.
Questions
What was ICU Medical's revenue in the second quarter 2026?
ICU Medical (ICUI) reported revenue of $552M for the second quarter 2026 (Q2 2026), +0.5% from a year earlier and +4% from the quarter before.
Was ICU Medical profitable in the second quarter 2026?
Operating profit was $39.1M (7.1% of revenue) and net earnings $19.1M.
Source: ICU Medical 10-Q on SEC EDGAR.