Q1 2026 Integer Holdings Corp Earnings Call Transcript
Key Points
- Integer Holdings Corp (ITGR) reported first-quarter sales of $440 million, up 0.5% on a reported basis and 1.3% on an organic basis.
- The company has strong relationships with leading players in the electrophysiology market and a robust new product pipeline.
- Integer Holdings Corp (ITGR) completed a $50 million share repurchase in the first quarter, reflecting confidence in its financial position.
- The company expects organic sales, excluding three new products, to grow approximately 3% to 4% in 2026.
- Integer Holdings Corp (ITGR) is focused on high-growth markets such as electrophysiology, structural heart, neurovascular, and neuromodulation, which present attractive opportunities.
- Adjusted operating income declined 230 basis points due to lower fixed cost absorption, impacting gross margin performance.
- The company updated its 2026 outlook, expecting reported sales to decline by 1% to 3% compared to the prior year.
- Integer Holdings Corp (ITGR) faces a 3% to 4% headwind from three new products, affecting its 2026 growth outlook.
- The electrophysiology market is experiencing normalization, leading to forecast adjustments and impacting the second half of 2026.
- Adjusted net income decreased by 10% year over year, and adjusted earnings per share fell by 8% compared to the same period last year.
Good morning, and thank you for standing by. Welcome to Integer Holdings Corporation's first-quarter 2026 earnings call. My name is Kate, and I will be your conference operator today. (Operator Instructions) I would now like to turn the conference over to Kristen Stewart, Director of Investor Relations. Please go ahead.
Good morning, everyone. Thank you for joining us, and welcome to Integer's first-quarter 2026 earnings conference call. With me today are Payman Khales, President and Chief Executive Officer; and Diron Smith, Executive Vice President and Chief Financial Officer.
This morning, we issued a press release announcing our first-quarter 2026 financial results. We have posted a presentation to accompany today's call on the investor relations page on our website at integer.net. On today's call, Payman will provide opening comments. Diron will then review our adjusted financial results for the first quarter 2026 and our financial outlook. Payman will provide his closing
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