ICU Medical, Inc. (NASDAQ:ICUI) Q1 2022 Earnings Conference Call May 9, 2022 4:30 PM ET

Company Participants

John Mills - Managing Partner

Vivek Jain - Chairman & Chief Executive Officer

Brian Bonnell - Chief Financial Officer

Conference Call Participants

Jayson Bedford - Raymond James

Larry Solow - CJS Securities

Matthew Mishan - KeyBanc Capital Markets

Operator

Greetings and welcome to the ICU Medical Inc. First Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder this conference is being recorded.

It is now my pleasure to introduce your host, Mr. John Mills with ICR. Thank you. You may begin.

John Mills

Good afternoon everyone. Thank you for joining us to discuss ICU Medical's financial results for the first 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 first 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. The 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 be discussing 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.

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 hectic 70-or-so days since the last call as our legacy ICU businesses have continued to progress well and we've been consumed with trying to improve the performance of the businesses that came with Smiths Medical. The external volatility in the supply chain that we've been describing for the last year continued primarily on fuel freight and raw material availability, while hospital census for our customers was more balanced throughout the quarter than it has been in a long time.