CONMED’s third quarter sales were $335.6 million, down 0.7 percent year on year as reported and down 0.8 percent in constant currency, the company reported on October 28 in results furnished to the SEC. Excluding the gastroenterology product lines it has exited, net sales rose 6.7 percent on an organic constant currency basis, with balanced contributions from the orthopedic and general surgery lines. Domestic sales fell 11.0 percent as reported but rose 0.8 percent organically, while international sales rose 13.1 percent as reported and 13.8 percent organically in constant currency.
Profitability moved the other way from the reported top line. Net income was $19.8 million, against $2.9 million a year earlier, and GAAP diluted earnings per share were $0.66. Adjusted diluted earnings per share were $1.04, down 3.2 percent, a reminder that the GAAP comparison is flattered by charges in the prior year period. Gross margin was 56.4 percent of sales, against 49.2 percent a year earlier.
Chief executive Patrick Beyer said organic growth was consistent with company expectations and adjusted earnings exceeded them, crediting commercial traction in the AirSeal, Buffalo Filter and BioBrace platforms. The company also noted that its AirSeal robotic solution was cleared in July for use with Intuitive’s da Vinci 5 platform cannulas, tying part of its general surgery growth to the robotic surgery installed base.
Updated full year 2026 guidance puts net sales at $1,360 million to $1,366 million, narrowing the prior $1,358 million to $1,373 million range, and adjusted diluted earnings per share at $4.54 to $4.61, against $4.48 to $4.60 previously. The guidance still implies a reported sales decline of about 1 percent for the year, which is the arithmetic of the exit strategy: the portfolio CONMED kept is growing at a mid single digit organic rate, and the portfolio it sold is still in the comparison base.