Intuitive’s surgical growth is offset in GAAP earnings by litigation charge

Intuitive Surgical ($ISRG) generated quarterly revenue of $3.05 billion, up 22%, as total procedures increased 15%. Da Vinci procedures rose 14% and Ion procedures increased 31%, while system placements reached 546 compared with 427 a year earlier. Adjusted net income was $1.05 billion, or $3.00 per share, versus $867 million and $2.40 previously, reflecting expansion in the underlying business.

GAAP net income instead fell to $523 million, or $1.49 per share, after a $450 million pretax charge for an antitrust settlement agreement. The after-tax impact was approximately $347 million. Intuitive denies liability, and the settlement still requires preliminary and final court approval. The quarter also benefited from $22 million of net tariff refunds. The charge separates the statutory earnings trend from the growth in procedures and adjusted profit, with the settlement’s final resolution still dependent on the court process.

Sources:

• Intuitive — issuer earnings release
• Intuitive — issuer earnings release