Filing Flows › ICU Medical (ICUI) › Q3 2026
ICU Medical (ICUI) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
ICU Medical (ICUI) reported revenue of $560M for the third quarter 2026 (Q3 2026), +4% from a year earlier and +2% from the quarter before. Operating margin was 9.3%, net earnings $26.8M (4.8% of revenue).
ICU Medical, Q3 2026: revenue $560M (+4% year over year), operating margin 9.3%, net earnings $26.8M, operating cash flow $99.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $560M | +2% | +4% |
| Gross profit | $235M | -0.1% | +17% |
| Operating profit | $52.3M | +34% | +281% |
| Net earnings | $26.8M | +41% | — |
| Operating cash flow | $99.6M | +24% | +76% |
| Free cash flow | $83.4M | — | +202% |
What changed
Revenue was $560.4M in Q3 2026, up 4% year over year and up 2% from the previous quarter. Infusion Consumables was the largest line at 53% of revenue. Infusion Systems added $18.6M year over year (up 11%), 79% of the total change. Vital Care declined 11%.
Gross margin was 41.9%, up 4.5 points from Q3 2025. Operating profit was $52.3M, a 9.3% margin (up 6.8 points year over year). Of the extra revenue versus Q3 2025, 165% reached operating profit, above the 3% margin then. Operating expenses fell 3% while revenue rose 4%. Net earnings were $26.8M. The effective tax rate was 21.1%.
Operating cash flow was $99.6M (up 76% year over year), 371% of net earnings. Non-cash charges added back $49.6M of depreciation and amortization and $11.9M of share-based compensation. Working capital and other items added $11.3M. After purchase of property, plant and equipment, net ($16.2M), free cash flow as the company reports it was $83.4M.
Questions
What was ICU Medical's revenue in the third quarter 2026?
ICU Medical (ICUI) reported revenue of $560M for the third quarter 2026 (Q3 2026), +4% from a year earlier and +2% from the quarter before.
Was ICU Medical profitable in the third quarter 2026?
Operating profit was $52.3M (9.3% of revenue) and net earnings $26.8M.
Source: ICU Medical 10-Q on SEC EDGAR.