CNMD · CONMED Corporation Q2 FY2026 earnings call record财报电话会记录

“Our net sales increased 0.3% year-over-year on an as-reported basis and decreased 0.5% on a constant currency basis.”

“In conjunction with the second quarter transaction, we've entered into a manufacturing services agreement to continue producing certain GI products for the buyer over the next 12 months, ensuring continuity for our customers through the transition.”

“Our adjusted operating margin was 18.2%, compared to 15.7% in the prior year period, an increase of 250 basis points year-over-year.”

“As Pat mentioned, we have completed a refinancing during the quarter, drawing on our new $450 million term loan and our existing revolving credit facility to repurchase $645.2 million of our $800 million 2.25% convertible notes ahead of their June 2027 maturity.”

“As of June 30th, 2026, CONMED had cash of $37.3 million, total debt obligations of $834.2 million, and additional available borrowing capacity of $455.5 million.”

“Specifically, our full year 2026 revenue guidance now assumes GI revenue in the range of $20 million to $22 million, compared to our prior guidance range of $14.5 million to $17.5 million.”

“With respect to profitability guidance for 2026, we now expect non-GAAP adjusted diluted earnings per share in the range of $4.48-$4.60 compared to our prior guidance range of $4.30-$4.45.”

“We expect to generate free cash flow of approximately $115 million compared to approximately $125 million previously.”

“Third quarter organic constant currency growth is expected to be in the range of 6.4%-7.6%, excluding expected GI revenue in the range of $3 million-$3.6 million, and an FX impact of approximately 10 basis points.”

“Ortho sales increased 6.8% globally, international was 10.8%, and domestic was essentially flat or U.S.”

“Again, we see the news and the publications that come out, some would challenge surgical volumes are going to go lower.”

“Some challenge surgical volumes are going up.”