Conmed Raises 2026 Adjusted Earnings Outlook

The Tip Desk · November 9, 2026 · 3 min read

Organic constant-currency sales grew 6.7% in the third quarter as the Largo, Florida medical-technology company lifted full-year adjusted diluted EPS to $4.54–$4.61.

CONMED Corporation (CNMD) reported third-quarter sales of $335.6 million, down 0.7% from a year earlier, and said organic constant-currency growth excluding gastroenterology exits accelerated to 6.7% from 6.0% in the second quarter.

The medical-technology company, which provides devices and equipment for surgical procedures, said the underlying sales increase was consistent with its expectations and that adjusted diluted earnings of $1.04 a share exceeded them. GAAP diluted earnings were $0.66 a share, up 613.7% from $0.09 a year earlier.

President and Chief Executive Officer Patrick J. Beyer said net sales growth on an organic, constant-currency basis included balanced contributions from Orthopedic and General Surgery, powered by commercial traction across AirSeal, Buffalo Filter, and BioBrace. On July 22, 2026, the company announced the AirSeal Robotic Solution is now indicated for use with Intuitive’s 8 mm hex cannulas used as part of the Intuitive da Vinci 5 platform.

Domestic sales were $172.7 million, down 11.0% as reported and up 0.8% on an organic basis. International sales were $162.9 million, up 13.1% as reported, 12.8% in constant currency, and 13.8% on an organic constant-currency basis.

Orthopedic Surgery sales were $148.8 million, up 7.7% as reported and 7.2% in constant currency. General Surgery sales were $186.7 million, down 6.5% as reported and 6.4% in constant currency, but up 6.4% on an organic constant-currency basis after adding back GI exits. Single-use products were $285.7 million and capital products $49.8 million.

Gross profit was $189.1 million, or 56.4% of sales, versus 49.2% of sales a year earlier. Operating income was $37.1 million, or 11.1% of sales, versus 3.5%. Adjusted EBITDA was $67.9 million, or 20.2% of sales, versus $65.6 million, or 19.4% of sales, a year earlier.

Adjusted diluted EPS of $1.04 compared with $1.38 in the second quarter, which had included a $0.21 benefit from IEEPA tariff refunds. Current adjusted diluted EPS of $1.04 was down 3.2% from $1.08 a year earlier.

The company is updating full-year 2026 guidance to $1,360 million to $1,366 million in net sales, from $1,358 million to $1,373 million issued on July 29, 2026. Organic constant-currency growth guidance is now 5.0% to 5.5%, from 5.0% to 6.0%. Adjusted diluted EPS guidance was raised to $4.54 to $4.61 from $4.48 to $4.60.

Beyer said the updated guidance reflects third-quarter performance and the latest outlook as the company closes out the year. Looking ahead, he said the global team remains focused on expanding awareness and adoption of the key product platforms across minimally invasive surgery, smoke evacuation, and orthopedic soft tissue repair markets, and that a sharpened strategic focus following recent portfolio optimization leaves CONMED better positioned to support customers, expand market share, and drive long-term growth.