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[8-K] Canadian Pacific Kansas City Limited Reports Material Event

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Merit Medical Systems (MMSI) – Q2 2025 10-Q highlights

  • Revenue: $382.5 m, up 13.1 % YoY; six-month revenue $737.8 m, up 11.5 %.
  • Mix: Cardiovascular +11 % to $364.0 m; Endoscopy devices +81 % to $18.4 m.
  • Margins: Gross margin 48.3 % (+60 bp); SG&A +19 %, R&D +20 % drove operating margin down 130 bp to 12.3 %.
  • Earnings: Net income $32.6 m (-8.8 %); diluted EPS $0.54 vs $0.61. 1H EPS $1.03 (-5.5 %).
  • Cash flow: 1H operating cash flow $123.9 m (+18 %); capex $34.8 m; acquisitions $122.6 m.
  • Balance sheet: Cash $341.8 m (-9 % YTD); long-term convertible notes $731.8 m; equity $1.49 bn (+7.9 %). Leverage covenants remain compliant.
  • Acquisitions: Closed $126 m Biolife deal in May (hemostatic devices); prior Cook ($210 m) and EGS ($105 m) integrations ongoing. Goodwill now $504.6 m.
  • Tax: Effective rate 24.9 % vs 22.1 %, pressuring earnings.

Overall, strong top-line growth and cash generation were offset by higher operating costs, acquisition spending and a rising tax rate, leading to lower YoY earnings.

Merit Medical Systems (MMSI) – Principali dati del 10-Q del secondo trimestre 2025

  • Ricavi: 382,5 milioni di dollari, in aumento del 13,1% su base annua; ricavi semestrali di 737,8 milioni di dollari, +11,5%.
  • Composizione: Cardiovascolare +11% a 364,0 milioni di dollari; dispositivi per endoscopia +81% a 18,4 milioni di dollari.
  • Margini: Margine lordo al 48,3% (+60 punti base); SG&A +19%, R&S +20% hanno ridotto il margine operativo di 130 punti base al 12,3%.
  • Utili: Utile netto 32,6 milioni di dollari (-8,8%); EPS diluito 0,54 dollari contro 0,61 dollari; EPS primo semestre 1,03 dollari (-5,5%).
  • Flusso di cassa: Flusso operativo primo semestre 123,9 milioni di dollari (+18%); investimenti in capitale fisso 34,8 milioni; acquisizioni 122,6 milioni.
  • Bilancio: Liquidità 341,8 milioni di dollari (-9% da inizio anno); obbligazioni convertibili a lungo termine 731,8 milioni; patrimonio netto 1,49 miliardi (+7,9%). Covenant di leva finanziaria rispettati.
  • Acquisizioni: Conclusa a maggio l’acquisizione da 126 milioni di dollari di Biolife (dispositivi emostatici); integrazioni in corso di Cook (210 milioni) ed EGS (105 milioni). Avviamento ora a 504,6 milioni.
  • Imposte: Aliquota effettiva 24,9% contro 22,1%, con impatto negativo sugli utili.

In generale, una forte crescita dei ricavi e generazione di cassa sono state compensate da costi operativi più elevati, spese per acquisizioni e un aumento dell’aliquota fiscale, con conseguente calo degli utili su base annua.

Merit Medical Systems (MMSI) – Resumen del 10-Q del segundo trimestre de 2025

  • Ingresos: 382,5 millones de dólares, un aumento del 13,1% interanual; ingresos semestrales de 737,8 millones, +11,5%.
  • Composición: Cardiovascular +11% a 364,0 millones; dispositivos de endoscopia +81% a 18,4 millones.
  • Márgenes: Margen bruto del 48,3% (+60 puntos básicos); SG&A +19%, I+D +20% redujeron el margen operativo en 130 puntos básicos a 12,3%.
  • Ganancias: Ingreso neto de 32,6 millones (-8,8%); EPS diluido de 0,54 frente a 0,61; EPS primer semestre 1,03 (-5,5%).
  • Flujo de caja: Flujo operativo primer semestre 123,9 millones (+18%); capex 34,8 millones; adquisiciones 122,6 millones.
  • Balance: Efectivo 341,8 millones (-9% en el año); notas convertibles a largo plazo 731,8 millones; patrimonio 1,49 mil millones (+7,9%). Convenios de apalancamiento cumplidos.
  • Adquisiciones: Cerrada en mayo la compra por 126 millones de Biolife (dispositivos hemostáticos); integraciones en curso de Cook (210 millones) y EGS (105 millones). Plusvalía ahora 504,6 millones.
  • Impuestos: Tasa efectiva 24,9% vs 22,1%, presionando las ganancias.

En general, el fuerte crecimiento de ingresos y generación de efectivo se vio compensado por mayores costos operativos, gastos en adquisiciones y un aumento en la tasa impositiva, resultando en menores ganancias interanuales.

Merit Medical Systems (MMSI) – 2025년 2분기 10-Q 주요 내용

  • 매출: 3억 8,250만 달러로 전년 동기 대비 13.1% 증가; 6개월 누적 매출 7억 3,780만 달러로 11.5% 증가.
  • 제품 구성: 심혈관 부문 11% 증가한 3억 6,400만 달러; 내시경 기기 81% 증가한 1,840만 달러.
  • 마진: 총마진 48.3% (+60bp); 판매관리비 19%, 연구개발비 20% 증가로 영업마진 130bp 하락한 12.3% 기록.
  • 수익: 순이익 3,260만 달러 (-8.8%); 희석 주당순이익(EPS) 0.54달러, 전년 0.61달러 대비 감소; 상반기 EPS 1.03달러 (-5.5%).
  • 현금 흐름: 상반기 영업현금흐름 1억 2,390만 달러 (+18%); 자본적 지출 3,480만 달러; 인수 비용 1억 2,260만 달러.
  • 재무상태: 현금 3억 4,180만 달러 (-9% 연초 대비); 장기 전환사채 7억 3,180만 달러; 자본 14억 9천만 달러 (+7.9%). 레버리지 계약 조건 준수 중.
  • 인수합병: 5월에 1억 2,600만 달러 규모의 Biolife(지혈 기기) 인수 완료; 이전 Cook(2억 1,000만 달러) 및 EGS(1억 500만 달러) 통합 진행 중. 영업권 현재 5억 460만 달러.
  • 세금: 유효 세율 24.9%로 전년 22.1% 대비 상승, 수익에 부담 요인.

전반적으로 매출과 현금 창출은 강했으나, 운영 비용 증가, 인수 지출, 세율 상승으로 인해 전년 대비 수익은 감소했다.

Merit Medical Systems (MMSI) – Points clés du 10-Q du 2e trimestre 2025

  • Chiffre d'affaires : 382,5 M$, en hausse de 13,1 % en glissement annuel ; chiffre d'affaires semestriel de 737,8 M$, +11,5 %.
  • Répartition : Cardiovasculaire +11 % à 364,0 M$ ; dispositifs d'endoscopie +81 % à 18,4 M$.
  • Marges : Marge brute de 48,3 % (+60 points de base) ; SG&A +19 %, R&D +20 % ont fait baisser la marge opérationnelle de 130 points de base à 12,3 %.
  • Bénéfices : Résultat net de 32,6 M$ (-8,8 %) ; BPA dilué de 0,54 $ contre 0,61 $ ; BPA semestriel de 1,03 $ (-5,5 %).
  • Flux de trésorerie : Flux de trésorerie d'exploitation semestriel de 123,9 M$ (+18 %) ; investissements 34,8 M$ ; acquisitions 122,6 M$.
  • Bilan : Trésorerie 341,8 M$ (-9 % depuis le début de l'année) ; obligations convertibles à long terme 731,8 M$ ; capitaux propres 1,49 Md$ (+7,9 %). Les clauses de levier restent respectées.
  • Acquisitions : Acquisition de Biolife de 126 M$ finalisée en mai (dispositifs hémostatiques) ; intégrations en cours de Cook (210 M$) et EGS (105 M$). Goodwill à présent à 504,6 M$.
  • Impôts : Taux effectif d'imposition de 24,9 % contre 22,1 %, pesant sur les bénéfices.

Globalement, une forte croissance du chiffre d'affaires et de la génération de trésorerie a été compensée par des coûts opérationnels plus élevés, des dépenses liées aux acquisitions et une hausse du taux d'imposition, entraînant une baisse des bénéfices en glissement annuel.

Merit Medical Systems (MMSI) – Highlights des 10-Q-Berichts zum 2. Quartal 2025

  • Umsatz: 382,5 Mio. USD, ein Anstieg von 13,1 % im Jahresvergleich; Halbjahresumsatz 737,8 Mio. USD, +11,5 %.
  • Segmentmix: Kardiovaskulär +11 % auf 364,0 Mio. USD; Endoskopiegeräte +81 % auf 18,4 Mio. USD.
  • Margen: Bruttomarge 48,3 % (+60 Basispunkte); SG&A +19 %, F&E +20 % führten zu einem Rückgang der operativen Marge um 130 Basispunkte auf 12,3 %.
  • Ergebnisse: Nettogewinn 32,6 Mio. USD (-8,8 %); verwässertes Ergebnis je Aktie (EPS) 0,54 USD gegenüber 0,61 USD; EPS im ersten Halbjahr 1,03 USD (-5,5 %).
  • Cashflow: Operativer Cashflow im ersten Halbjahr 123,9 Mio. USD (+18 %); Investitionen in Sachanlagen 34,8 Mio.; Akquisitionen 122,6 Mio.
  • Bilanz: Zahlungsmittel 341,8 Mio. USD (-9 % seit Jahresbeginn); langfristige Wandelanleihen 731,8 Mio.; Eigenkapital 1,49 Mrd. USD (+7,9 %). Verschuldungsvereinbarungen bleiben eingehalten.
  • Akquisitionen: Im Mai wurde die Biolife-Übernahme für 126 Mio. USD abgeschlossen (Blutstillungsgeräte); Integration der vorherigen Übernahmen Cook (210 Mio.) und EGS (105 Mio.) läuft. Firmenwert beträgt nun 504,6 Mio. USD.
  • Steuern: Effektiver Steuersatz 24,9 % gegenüber 22,1 %, belastet das Ergebnis.

Insgesamt wurde das starke Umsatz- und Cashflow-Wachstum durch höhere Betriebskosten, Akquisitionsausgaben und eine steigende Steuerquote ausgeglichen, was zu einem Rückgang der Gewinne im Jahresvergleich führte.

Positive
  • Revenue growth of 13 % YoY and broad-based segment gains signal strong demand.
  • Gross margin expansion of 60 bp despite inflation indicates pricing/efficiency traction.
  • Operating cash flow up 18 % to $124 m enhances internal funding capacity.
  • Balance-sheet strength: $342 m cash and $697 m unused revolver provide liquidity for further R&D and M&A.
Negative
  • Diluted EPS fell 11 % YoY due to higher SG&A, R&D and tax rate.
  • Net margin compression: operating margin down 130 bp to 12.3 %.
  • Cash balance down 46 % vs prior-year quarter following heavy acquisition spend.
  • Interest expense remains elevated ($6.8 m in Q2) reflecting convertible-debt issuance.

Insights

TL;DR – Solid revenue beat, but cost inflation and taxes eroded EPS; outlook hinges on acquisition synergies.

Double-digit sales growth, particularly in peripheral and endoscopy lines, confirms healthy procedure volumes and early contribution from recent tuck-ins. Gross margin expanded slightly, yet SG&A and R&D rose faster (partly Biolife/Cook integration), trimming operating leverage. Interest and tax headwinds compounded, driving an 11 % EPS decline. Cash generation remains robust and liquidity ample, though cash pile fell following $123 m Biolife payment. Net leverage is manageable (<2× EBITDA est.) under covenant limits. Investors will focus on realizing cost synergies to restore earnings momentum and on potential dilution from 2029 converts if the stock trades above the ~$86.83 strike.

TL;DR – Biolife buy widens wound-closure portfolio and adds IP; integration risk appears contained.

Management paid ~4.2× projected 2025 sales for Biolife, securing patented StatSeal/WoundSeal technology with 12-year amortization life. Goodwill of $38 m signals expectation of cross-selling through Merit’s cardiovascular channel. Prior Cook and EGS assets are bedding in without material P&L disruption. Cumulative intangible amortization will step up (> $80 m in 2026), but cash tax impact is limited. No covenant stress post-deal: $697 m of revolver headroom and senior secured leverage at ~0×. Successful commercialization could lift organic growth above the current low-double-digit rate.

Merit Medical Systems (MMSI) – Principali dati del 10-Q del secondo trimestre 2025

  • Ricavi: 382,5 milioni di dollari, in aumento del 13,1% su base annua; ricavi semestrali di 737,8 milioni di dollari, +11,5%.
  • Composizione: Cardiovascolare +11% a 364,0 milioni di dollari; dispositivi per endoscopia +81% a 18,4 milioni di dollari.
  • Margini: Margine lordo al 48,3% (+60 punti base); SG&A +19%, R&S +20% hanno ridotto il margine operativo di 130 punti base al 12,3%.
  • Utili: Utile netto 32,6 milioni di dollari (-8,8%); EPS diluito 0,54 dollari contro 0,61 dollari; EPS primo semestre 1,03 dollari (-5,5%).
  • Flusso di cassa: Flusso operativo primo semestre 123,9 milioni di dollari (+18%); investimenti in capitale fisso 34,8 milioni; acquisizioni 122,6 milioni.
  • Bilancio: Liquidità 341,8 milioni di dollari (-9% da inizio anno); obbligazioni convertibili a lungo termine 731,8 milioni; patrimonio netto 1,49 miliardi (+7,9%). Covenant di leva finanziaria rispettati.
  • Acquisizioni: Conclusa a maggio l’acquisizione da 126 milioni di dollari di Biolife (dispositivi emostatici); integrazioni in corso di Cook (210 milioni) ed EGS (105 milioni). Avviamento ora a 504,6 milioni.
  • Imposte: Aliquota effettiva 24,9% contro 22,1%, con impatto negativo sugli utili.

In generale, una forte crescita dei ricavi e generazione di cassa sono state compensate da costi operativi più elevati, spese per acquisizioni e un aumento dell’aliquota fiscale, con conseguente calo degli utili su base annua.

Merit Medical Systems (MMSI) – Resumen del 10-Q del segundo trimestre de 2025

  • Ingresos: 382,5 millones de dólares, un aumento del 13,1% interanual; ingresos semestrales de 737,8 millones, +11,5%.
  • Composición: Cardiovascular +11% a 364,0 millones; dispositivos de endoscopia +81% a 18,4 millones.
  • Márgenes: Margen bruto del 48,3% (+60 puntos básicos); SG&A +19%, I+D +20% redujeron el margen operativo en 130 puntos básicos a 12,3%.
  • Ganancias: Ingreso neto de 32,6 millones (-8,8%); EPS diluido de 0,54 frente a 0,61; EPS primer semestre 1,03 (-5,5%).
  • Flujo de caja: Flujo operativo primer semestre 123,9 millones (+18%); capex 34,8 millones; adquisiciones 122,6 millones.
  • Balance: Efectivo 341,8 millones (-9% en el año); notas convertibles a largo plazo 731,8 millones; patrimonio 1,49 mil millones (+7,9%). Convenios de apalancamiento cumplidos.
  • Adquisiciones: Cerrada en mayo la compra por 126 millones de Biolife (dispositivos hemostáticos); integraciones en curso de Cook (210 millones) y EGS (105 millones). Plusvalía ahora 504,6 millones.
  • Impuestos: Tasa efectiva 24,9% vs 22,1%, presionando las ganancias.

En general, el fuerte crecimiento de ingresos y generación de efectivo se vio compensado por mayores costos operativos, gastos en adquisiciones y un aumento en la tasa impositiva, resultando en menores ganancias interanuales.

Merit Medical Systems (MMSI) – 2025년 2분기 10-Q 주요 내용

  • 매출: 3억 8,250만 달러로 전년 동기 대비 13.1% 증가; 6개월 누적 매출 7억 3,780만 달러로 11.5% 증가.
  • 제품 구성: 심혈관 부문 11% 증가한 3억 6,400만 달러; 내시경 기기 81% 증가한 1,840만 달러.
  • 마진: 총마진 48.3% (+60bp); 판매관리비 19%, 연구개발비 20% 증가로 영업마진 130bp 하락한 12.3% 기록.
  • 수익: 순이익 3,260만 달러 (-8.8%); 희석 주당순이익(EPS) 0.54달러, 전년 0.61달러 대비 감소; 상반기 EPS 1.03달러 (-5.5%).
  • 현금 흐름: 상반기 영업현금흐름 1억 2,390만 달러 (+18%); 자본적 지출 3,480만 달러; 인수 비용 1억 2,260만 달러.
  • 재무상태: 현금 3억 4,180만 달러 (-9% 연초 대비); 장기 전환사채 7억 3,180만 달러; 자본 14억 9천만 달러 (+7.9%). 레버리지 계약 조건 준수 중.
  • 인수합병: 5월에 1억 2,600만 달러 규모의 Biolife(지혈 기기) 인수 완료; 이전 Cook(2억 1,000만 달러) 및 EGS(1억 500만 달러) 통합 진행 중. 영업권 현재 5억 460만 달러.
  • 세금: 유효 세율 24.9%로 전년 22.1% 대비 상승, 수익에 부담 요인.

전반적으로 매출과 현금 창출은 강했으나, 운영 비용 증가, 인수 지출, 세율 상승으로 인해 전년 대비 수익은 감소했다.

Merit Medical Systems (MMSI) – Points clés du 10-Q du 2e trimestre 2025

  • Chiffre d'affaires : 382,5 M$, en hausse de 13,1 % en glissement annuel ; chiffre d'affaires semestriel de 737,8 M$, +11,5 %.
  • Répartition : Cardiovasculaire +11 % à 364,0 M$ ; dispositifs d'endoscopie +81 % à 18,4 M$.
  • Marges : Marge brute de 48,3 % (+60 points de base) ; SG&A +19 %, R&D +20 % ont fait baisser la marge opérationnelle de 130 points de base à 12,3 %.
  • Bénéfices : Résultat net de 32,6 M$ (-8,8 %) ; BPA dilué de 0,54 $ contre 0,61 $ ; BPA semestriel de 1,03 $ (-5,5 %).
  • Flux de trésorerie : Flux de trésorerie d'exploitation semestriel de 123,9 M$ (+18 %) ; investissements 34,8 M$ ; acquisitions 122,6 M$.
  • Bilan : Trésorerie 341,8 M$ (-9 % depuis le début de l'année) ; obligations convertibles à long terme 731,8 M$ ; capitaux propres 1,49 Md$ (+7,9 %). Les clauses de levier restent respectées.
  • Acquisitions : Acquisition de Biolife de 126 M$ finalisée en mai (dispositifs hémostatiques) ; intégrations en cours de Cook (210 M$) et EGS (105 M$). Goodwill à présent à 504,6 M$.
  • Impôts : Taux effectif d'imposition de 24,9 % contre 22,1 %, pesant sur les bénéfices.

Globalement, une forte croissance du chiffre d'affaires et de la génération de trésorerie a été compensée par des coûts opérationnels plus élevés, des dépenses liées aux acquisitions et une hausse du taux d'imposition, entraînant une baisse des bénéfices en glissement annuel.

Merit Medical Systems (MMSI) – Highlights des 10-Q-Berichts zum 2. Quartal 2025

  • Umsatz: 382,5 Mio. USD, ein Anstieg von 13,1 % im Jahresvergleich; Halbjahresumsatz 737,8 Mio. USD, +11,5 %.
  • Segmentmix: Kardiovaskulär +11 % auf 364,0 Mio. USD; Endoskopiegeräte +81 % auf 18,4 Mio. USD.
  • Margen: Bruttomarge 48,3 % (+60 Basispunkte); SG&A +19 %, F&E +20 % führten zu einem Rückgang der operativen Marge um 130 Basispunkte auf 12,3 %.
  • Ergebnisse: Nettogewinn 32,6 Mio. USD (-8,8 %); verwässertes Ergebnis je Aktie (EPS) 0,54 USD gegenüber 0,61 USD; EPS im ersten Halbjahr 1,03 USD (-5,5 %).
  • Cashflow: Operativer Cashflow im ersten Halbjahr 123,9 Mio. USD (+18 %); Investitionen in Sachanlagen 34,8 Mio.; Akquisitionen 122,6 Mio.
  • Bilanz: Zahlungsmittel 341,8 Mio. USD (-9 % seit Jahresbeginn); langfristige Wandelanleihen 731,8 Mio.; Eigenkapital 1,49 Mrd. USD (+7,9 %). Verschuldungsvereinbarungen bleiben eingehalten.
  • Akquisitionen: Im Mai wurde die Biolife-Übernahme für 126 Mio. USD abgeschlossen (Blutstillungsgeräte); Integration der vorherigen Übernahmen Cook (210 Mio.) und EGS (105 Mio.) läuft. Firmenwert beträgt nun 504,6 Mio. USD.
  • Steuern: Effektiver Steuersatz 24,9 % gegenüber 22,1 %, belastet das Ergebnis.

Insgesamt wurde das starke Umsatz- und Cashflow-Wachstum durch höhere Betriebskosten, Akquisitionsausgaben und eine steigende Steuerquote ausgeglichen, was zu einem Rückgang der Gewinne im Jahresvergleich führte.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
 
July 30, 2025
Date of Report (Date of earliest event reported) 
 
Canadian Pacific Kansas City Limited
(Exact name of registrant as specified in its charter)
 
Canada001-0134298-0355078
(State or other jurisdiction
of incorporation)		(Commission
File Number)		(IRS Employer
Identification No.)
7550 Ogden Dale Road S.E., Calgary, Alberta
CanadaT2C 4X9
(Address of principal executive offices)(Zip Code)
 
(403) 319-7000
Registrant’s telephone number, including area code
 
Not Applicable
(Former name or former address, if changed since last report.)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  
Securities registered pursuant to Section 12(b) of the Act:
 Title of each class Trading Symbol(s)  Name of each exchange on which Registered 
Common Shares, without par value, of
Canadian Pacific Kansas City Limited		CP New York Stock Exchange
Common Shares, without par value, of
Canadian Pacific Kansas City Limited		CPToronto Stock Exchange
Perpetual 4% Consolidated Debenture Stock of Canadian Pacific Railway CompanyCP40New York Stock Exchange
Perpetual 4% Consolidated Debenture Stock of Canadian Pacific Railway CompanyBC87London Stock Exchange



Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨





ITEM 2.02    Results of Operations and Financial Condition.
 
The following information is furnished pursuant to Item 2.02, “Results of Operations and Financial Condition.”

On July 30, 2025, Canadian Pacific Kansas City Limited (“CPKC”) issued a press release setting forth its financial results for its three and six months ended June 30, 2025. A copy of CPKC’s press release is attached hereto as Exhibit 99.1. CPKC does not intend for this Item 2.02 or Exhibit 99.1 to be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or to be incorporated by reference into filings under the Securities Act of 1933, as amended.


ITEM 9.01    Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.Exhibit Description
Exhibit 99.1
Press release issued July 30, 2025 by Canadian Pacific Kansas City Limited and furnished pursuant to Item 2.02, “Results of Operations and Financial Condition."
Exhibit 104Cover Page Interactive Data File (embedded within the Inline XBRL document)



SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
Dated: July 30, 2025
 
  
 CANADIAN PACIFIC KANSAS CITY LIMITED
  
  
 By:/s/ Tyler Robinson
  Name:Tyler Robinson
  Title:General Counsel and Assistant Corporate Secretary


Source: View Original Filing on SEC EDGAR

FAQ

How much did MMSI earn per share in Q2 2025?

Diluted EPS was $0.54, down from $0.61 a year earlier.

What drove Merit Medical Systems’ revenue growth in Q2 2025?

Cardiovascular products added $364 m (+11 %) and endoscopy devices rose 81 % to $18 m, boosted by portfolio realignment and acquisitions.

How large is MMSI’s cash position after the Biolife acquisition?

Cash and cash equivalents were $341.8 million at 30 Jun 2025.

What is the status of Merit’s convertible notes?

The $747.5 m 3.0 % notes mature Feb 1 2029 with an initial conversion price of about $86.83 per share.

Did Merit meet its credit-facility covenants in Q2 2025?

Yes. The company reported compliance with leverage and interest-coverage ratios and has about $697 m borrowing capacity remaining.

What was the effective tax rate for Q2 2025?

The rate increased to 24.9 % from 22.1 % in the prior year.
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Canadian Pacific Kansas City Limited

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CP Latest SEC Filings

Jul 31, 2025
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