Lemaitre Vascular Lowers Full-Year Guidance Following Sales Deceleration
The medical device maker reduced its full-year earnings per share midpoint to $2.89 from a previous projection of $3.00.
Lemaitre Vascular (LMAT), the medical device maker, reported second-quarter sales of $70.4 million.
The results marked a slight deceleration in growth for the company. Sales rose 10% year-over-year, compared to the 11% growth reported in the first quarter.
Operating income grew 26% year-over-year to $20.4 million. This growth rate slowed from the 41% increase recorded in the prior quarter. Gross margin expanded 210 basis points year-over-year to 72.1%, though the figure declined from 72.7% in the first quarter.
Performance was driven by the Artegraft product line, which saw sales grow 34% in the second quarter. The product now accounts for 21% of total sales, though its growth rate slowed from 36% in the first quarter. Conversely, catheter sales declined 11% in the second quarter due to recall-driven overstocking in the second quarter of 2025.
Lemaitre lowered its full-year 2026 sales guidance to a midpoint of $276.3 million, representing 11% organic growth, down from the $280 million midpoint provided in the first quarter. The company also reduced its full-year operating income guidance to a midpoint of $76.8 million from $79.8 million.
Full-year earnings per share guidance was lowered to a midpoint of $2.89 from the previous $3.00 midpoint.
Cash increased $9.0 million sequentially to $376.2 million in the second quarter. The company also authorized a new share repurchase program of up to $100.0 million on February 19, 2026, replacing a previous $75.0 million program.