ICU Medical, Inc. (NASDAQ:ICUI) Q2 2022 Earnings Conference Call August 8, 2022 4:30 PM ET

Company Participants

John Mills - ICR

Vivek Jain - CEO & Chairman

Brian Bonnell - CFO & Treasurer

Conference Call Participants

Jayson Bedford - Raymond James & Associates

Matthew Mishan - KeyBanc

Lawrence Solow - CJS Securities

Operator

Good day, and welcome to the ICU Medical, Inc. Second Quarter 2022 Earnings Conference Call. [Operator Instructions]. Please note this event is be recorded. I would now like to turn the conference over to John Mills with ICR. Please go ahead.

John Mills

Good afternoon, everyone. Thank you for joining us to discuss ICU Medical's financial results for the second quarter of 2022. On the call today representing ICU Medical is Vivek Jain, Chief Executive Officer and Chairman; and Brian Bonnell, Chief Financial Officer. We wanted to let everyone know that we have a presentation accompanying today's prepared remarks.

To view the presentation, please go to our Investor page and click on Events Calendar, and it will be under the second quarter 2022 events. Before we start our prepared remarks, I want to touch upon any forward-looking statements made during the call, including beliefs and expectations about the company's future results.

Please be aware, they are based on the best available information to management and assumptions that are reasonable. Such statements are not intended to be a representation of future results and are subject to risks and uncertainties. Future results may differ materially from management's current expectations. We refer all of you to the company's SEC filings for more detailed information on the risks and uncertainties that have a direct bearing on operating results and financial position.

Please note that during today's call, we will also discuss non-GAAP financial measures, including results on an adjusted basis. We believe these financial measures can facilitate a more complete analysis and greater transparency into ICU Medical's ongoing results of operations, particularly when comparing underlying results from period to period.

We've also included a reconciliation of these non-GAAP measures in today's release and provided as much detail as possible on any addendums that are added back. And with that, it is my pleasure to turn the call over to Vivek.

Vivek Jain

Thanks, John. Good afternoon, everybody, and we hope you are well. It's been a quick 90-or-so days since the last call, and our legacy ICU business unit revenues are on track in 2022, and we have now seen weekly improvements over the last 8 to 10 weeks through today in our operational performance for the businesses that came with Smiths Medical. The external economic volatility in the supply chain around freight and fuel that we've been describing for a while, hit its highest peak in Q2 for any time our team has been in the industry.