CONMED Corporation (CNMD) on Wednesday said its first-quarter profit more than doubled despite lower sales as margins improved. Looking forward, the company raised its full-year growth outlook.
Net sales declined 1.3% year-over-year to $317.0 million from $321.3 million last year. Sales were impacted by a $15.5 million drop from exiting certain gastroenterology (GI) products. Domestic revenue fell 5.8%, while international revenue rose 4.7%.
Net income more than doubled to $13.8 million or $0.45 per share, compared to $6.0 million or $0.19 per share last year. Adjusted earnings per share came in at $0.89, slightly below $0.95 last year.
Looking ahead, CONMED raised its full-year 2026 organic revenue growth outlook to 5.0% to 6.5% in constant currency. Reported revenue is now expected between $1.35 billion and $1.375 billion, compared to previous guidance of $1.345 billion to $1.375 billion. Adjusted earnings per share guidance remains at $4.30 to $4.45.
"Our 2025 momentum continued in the first quarter as we delivered revenue and adjusted earnings ahead of our expectations," said Patrick J. Beyer, CONMED's President and Chief Executive Officer. "We continue to concentrate our resources and investment on our higher-growth, higher-margin areas: minimally invasive surgery, smoke evacuation, and orthopedic soft tissue repair."
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