CONMED Q3 Organic Revenue Rises 6.7%, 2026 Outlook Narrows

CONMED Corp. reported third-quarter revenue of $335.6 million, down 0.7% from a year earlier as reported and 0.8% in constant currency, as strategic product-line exits weighed on headline sales. Excluding those exits and currency effects, organic constant-currency revenue grew 6.7%, while the medical technology company narrowed its full-year organic growth outlook and increased its adjusted earnings-per-share range.

For the quarter ended September 30, 2026, GAAP diluted earnings per share rose 613.7% year over year to $0.66. Adjusted diluted EPS, which excludes operational optimization costs and other specified items, declined 3.2% to $1.04.

Orthopedics and international sales lead growth

Orthopedic Surgery generated $148.8 million in third-quarter revenue and grew 7.2% in constant currency. General Surgery revenue was $186.7 million, representing a 6.4% constant-currency decline, but increased 6.4% on an organic constant-currency basis after excluding the effect of strategic product-line exits.

International revenue rose 12.8% in constant currency to $162.9 million, while domestic revenue fell 11.0% to $172.7 million. Domestic sales accounted for 51% of quarterly revenue and international markets contributed 49%.

Single-use products remained CONMED’s largest product category, generating $285.7 million, or 85% of total revenue. Single-use revenue declined 1.3% in constant currency, while capital-product revenue increased 2.1% to $49.8 million.

For the first nine months of 2026, total revenue was $996.1 million, down 0.5% as reported and 1.4% in constant currency. Organic constant-currency growth was 5.0%. GAAP diluted EPS increased 92.5% to $1.87, while adjusted diluted EPS rose 4.5% to $3.31.

Year-to-date Orthopedic Surgery revenue reached $448.8 million and grew 6.2% in constant currency. General Surgery generated $547.3 million, declining 6.8% in constant currency but growing 4.0% organically. International revenue increased 7.7% in constant currency to $474.9 million, while domestic revenue fell 8.3% to $521.2 million.

Full-year outlook narrowed

CONMED now expects 2026 GAAP net sales of $1.360 billion to $1.366 billion, compared with its previous range of $1.358 billion to $1.373 billion. That implies reported revenue growth of negative 1.1% to negative 0.6% and constant-currency growth of negative 1.7% to negative 1.3%.

After excluding sales associated with gastroenterology product offerings covered by the company’s strategic exits, management expects organic constant-currency revenue growth of 5.0% to 5.5%. The previous range was 5.0% to 6.0%.

Adjusted diluted EPS is expected to be $4.54 to $4.61, compared with the prior forecast of $4.48 to $4.60. The updated range represents year-over-year growth of negative 1.2% to positive 0.4%. CONMED did not provide a reconciliation of forecast adjusted EPS to GAAP EPS because it said the timing and impact of acquisition, integration and other charges could not be estimated with reasonable certainty.

Management’s operating priorities include focusing on higher-growth, higher-margin products such as AirSeal, Buffalo Filter and BioBrace. The company is also exiting gastroenterology offerings to direct resources toward minimally invasive surgery, smoke evacuation and orthopedic soft-tissue repair. Other priorities include improving supply-chain resiliency, predictability, scalability and efficiency, as well as strengthening the balance sheet.

CONMED cautioned that its outlook remains subject to industry and economic conditions and other risks disclosed in its regulatory filings. The company also noted that non-GAAP measures are intended to supplement, rather than replace, results prepared under GAAP.