Integer Holdings reported lower third-quarter earnings, with both reported and adjusted profitability measures down from a year earlier. The medical-device manufacturer also said its pending sale to an affiliate of KKR-managed investment funds is expected to close by the end of 2026, subject to remaining conditions.
The company is not providing a financial outlook or holding a conference call to discuss the quarter, citing the pending acquisition.
Third-quarter results
– For the three months ended Oct. 2, 2026, operating income fell 50% to $28.2 million, while income from continuing operations declined 62.3% to $15.0 million.
– Diluted earnings per share from continuing operations dropped 61.3% to $0.43.
– Adjusted EBITDA decreased 17% to $87.9 million. Adjusted operating income fell 22.8% to $66.3 million, and adjusted net income declined 26.9% to $46.1 million.
– Adjusted diluted EPS was $1.34, down 25.1% from $1.79 a year earlier.
– EBITDA, adjusted EBITDA, adjusted operating income, adjusted net income and adjusted EPS are non-GAAP measures.
Year-to-date results
– For the first nine months of 2026, operating income fell 42.8% to $94.6 million, and EBITDA declined 6.3% to $194.6 million.
– Adjusted EBITDA was down 9.6% to $267.9 million; adjusted operating income fell 15.9% to $200.3 million.
– Adjusted net income declined 13.3% to $142.1 million, and adjusted EPS fell 10.8% to $4.14.
– In contrast, income from continuing operations rose 1.6% to $55.1 million, and diluted EPS from continuing operations increased 5.3% to $1.60.
Pending acquisition
– Integer stockholders approved the merger agreement on Oct. 21. The waiting period under federal antitrust law ended early on Sept. 29.
– The deal is still subject to remaining customary closing conditions, including required regulatory approvals, and is anticipated to close by year-end 2026.
– The disclosed results do not include the transaction’s purchase price or other deal terms.
The quarter’s reported and adjusted profit measures were lower year over year. For the first nine months, reported income and EPS were slightly higher, while adjusted earnings measures declined.