Enovis Raises 2026 Adjusted EBITDA and EPS Outlook

The Tip Desk · November 11, 2026 · 3 min read

Third-quarter sales of $559 million grew 5% organically as the medical-technology company lifted full-year adjusted EBITDA to $428 million–$438 million.

Enovis Corporation (ENOV), an innovation-driven medical technology company, raised its full-year 2026 outlook for adjusted EBITDA and adjusted earnings per share after third-quarter sales of $559 million grew 2% on a reported basis and 5% organically from the year-earlier period.

The company now expects adjusted EBITDA of $428 million to $438 million, versus the prior range of $425 million to $435 million, and adjusted earnings of $3.58 to $3.79 a share, up from $3.52 to $3.73. Revenue guidance was narrowed to $2.32 billion to $2.35 billion from $2.31 billion to $2.37 billion, with organic growth now incorporated at 5% rather than 4% to 6%. Full-year free cash flow conversion remains expected at 25% or higher. Foreign currency is now seen as a 0.5% to 1.0% benefit to revenue growth, compared with 0.5% to 1.5% previously.

Reconstructive sales grew 6% on both a reported and organic basis, down from 8% reported and 6% organic in the second quarter. Prevention & Recovery sales declined 2% on a reported basis and grew 3% organically, matching the second-quarter organic rate after a 1% organic increase in the first quarter. Chief Executive Officer Damien McDonald said growth was consistent with the company’s expectations, with continued share gains in Reconstructive and steady performance in Prevention & Recovery.

GAAP net income was $3 million, or 0.6% of sales, versus a $1 million net loss in the second quarter and an $8 million net loss in the first quarter. Adjusted net earnings were $0.88 a share. Adjusted EBITDA was $104 million, or 18.5% of sales, compared with 17.9% of sales in the second quarter and 17.6% in the first quarter. Gross profit margin was 60.8%.

Selling, general and administrative expense was $259.4 million. Research and development expense was $31.3 million. Amortization of acquired intangibles was $43.3 million. Restructuring charges were $2.6 million. Operating income was $3.4 million. Interest expense, net, was $7.6 million.

Strategic transaction costs were $15.6 million, including $9.2 million of Lima integration costs, $6.1 million of other non-Lima acquisition and project costs, and $0.3 million related to the separation of the former fabrication technology business. MDR and other costs were $0.9 million. Stock-based compensation was $7.5 million.

The company said it is investing in technologies that will define the next phase of growth, including an agreement to acquire eCential Robotics, while maintaining cost and capital discipline. McDonald said the environment remains dynamic, including volatility and cost inflation in many markets.

The board approved a new share repurchase authorization of up to $200 million, replacing the existing $100 million authorization. The timing and amount of any repurchases will be determined by management based on market conditions and capital allocation priorities.

The company said its focus remains on continuously improving how it operates and executes to make its performance repeatable, and increasingly profitable.