Enovis reported third-quarter sales of $559 million, with organic growth led by its Reconstructive business. The medical technology company also raised its full-year adjusted EBITDA and adjusted earnings-per-share outlook, while narrowing its revenue forecast.
The board approved a new authorization allowing Enovis to repurchase up to $200 million of its shares, replacing a previous $100 million authorization. The company also cited its agreement to acquire eCential Robotics as part of its investment in future growth, but provided no further deal terms in this announcement.
Third-quarter results
- Sales rose 2% from a year earlier on a reported basis and 5% organically.
- Reconstructive sales increased 6% both on a reported and organic basis.
- Prevention & Recovery sales fell 2% on a reported basis but grew 3% organically.
- Net income was $3 million, equal to $0.02 per share. Adjusted net earnings were $0.88 per diluted share.
- Adjusted EBITDA was $104 million, or 18.5% of sales.
Updated 2026 outlook
- Revenue guidance was narrowed to $2.32 billion to $2.35 billion, from a previous range of $2.31 billion to $2.37 billion. The company now expects 5% organic revenue growth, versus its prior 4% to 6% range.
- Adjusted EBITDA guidance increased to $428 million to $438 million, from $425 million to $435 million.
- Adjusted earnings-per-share guidance rose to $3.58 to $3.79, from $3.52 to $3.73.
- Enovis expects foreign exchange to add 0.5% to 1.0% to revenue growth, compared with its previous expectation of a 0.5% to 1.5% benefit. Revenue and adjusted EBITDA outlook ranges are based on current exchange rates.
- Full-year free cash flow conversion is expected to be 25% or higher.
Share repurchases and business context
- The new authorization permits repurchases of up to $200 million of common stock and replaces the prior $100 million authorization. It does not require the company to buy shares; management will determine the timing and amount based on market conditions and capital-allocation priorities.
- Chief Executive Damien McDonald said the company was seeing continued share gains in Reconstructive and steady performance in Prevention & Recovery. He also cited volatility and cost inflation in many markets, while saying Enovis remains focused on investment, cost discipline and improving execution.
The higher adjusted EBITDA and earnings outlook accompanies a narrower revenue range. The expanded repurchase authorization gives Enovis additional capacity to return capital, though actual buybacks remain subject to management’s decisions and market conditions.