The raised EPS guidance and margin expansion signal operational improvement, but the 4.1x leverage and flat Specialty Surgery segment limit upside. Watch for Q2 2026 results (guided $0.44-$0.52 EPS) and progress on Braintree facility production of SurgiMend for a Q4 launch. The stock's low consensus bullishness (13%) suggests potential for further positive surprise if execution continues.
Price Chart
Executive Summary
Integra LifeSciences reported Q1 2026 adjusted EPS of $0.54, beating the $0.41 consensus by 31.7%, on revenue of $391.9M (+2.4% YoY), slightly above the $381.8M estimate. The company reaffirmed FY2026 revenue guidance of $1.662B-$1.702B and raised adjusted EPS guidance from $2.30-$2.40 to $2.40-$2.50, citing first-quarter tariff benefits. This is a clear beat with raised guidance, but the stock's low market cap ($830M) and mixed analyst sentiment (only 13% bullish) suggest tempered expectations.
Key Financial Metrics
Key Facts
- Q1 2026 adjusted EPS of $0.54 vs consensus $0.41 (beat by 31.7%)
- Q1 2026 revenue of $391.9M vs consensus $381.8M (beat by 2.6%)
- Revenue grew 2.4% reported and 1.3% organic YoY
- Adjusted gross margin expanded to 64.1% from 62.2% YoY
- Adjusted EBITDA rose to $76.2M (19.4% margin) from $63.6M (16.6%) YoY
- FY2026 revenue guidance reaffirmed at $1.662B-$1.702B
- FY2026 adjusted EPS guidance raised to $2.40-$2.50 from $2.30-$2.40
- Net debt of $1.6B with leverage ratio of 4.1x
- Tissue Reconstruction segment grew 6.7% reported, driven by Integra Skin and PriMatrix relaunch
- Specialty Surgery segment revenue grew only 0.9% reported, with organic decline of 0.6%
Financial Impact
Adjusted EPS beat by $0.13 (31.7%) vs consensus; revenue beat by $10.1M (2.6%)
Risk Factors
- High net debt of $1.6B with 4.1x leverage ratio
- Specialty Surgery segment organic decline of 0.6% YoY
- Tariff uncertainty and macroeconomic headwinds
- Ongoing restructuring and recall-related costs ($7.7M in Q1)
- Negative free cash flow of -$5.0M in Q1
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000917520-26-000033 |
| Document: iart-20260505.htm | 0000917520-26-000033 |
| Document: 0000917520-26-000033-index-headers.html | 0000917520-26-000033 |
| Document: 0000917520-26-000033-index.html | 0000917520-26-000033 |
| Document: 0000917520-26-000033.txt | 0000917520-26-000033 |
| 8-K Data (Synthetic) | 0000917520-26-000033 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | 8-K | $11.84 | awaiting T+5 | — | $12.12 (−2.36%) |
Oct 19, 2026 6d ago | 8-K | $13.33 | awaiting T+5 | — | $12.12 (−9.08%) |
Oct 14, 2026 12d ago | Court Ruling | $13.53 $12.33 | ▼ −8.91% | ▼ −7.89% | $12.12 (−10.42%) |
Oct 13, 2026 12d ago | 3 | $13.18 $11.84 | ▼ −10.13% | ▼ −10.59% | $12.12 (−8.01%) |
Oct 9, 2026 16d ago | 8-K | $13.98 $13.45 | ▲ +3.79% | ▲ +2.30% | $12.12 (+13.30%) |
Oct 6, 2026 20d ago | Press Release | $13.32 | awaiting T+5 | — | $12.12 (−9.01%) |
Oct 2, 2026 24d ago | 8-K | $12.68 $13.44 | ▼ −5.99% | ▼ −4.83% | $12.12 (+4.42%) |
Oct 2, 2026 24d ago | Press Release | $12.68 $13.44 | ▼ −5.99% | ▼ −4.83% | $12.12 (+4.42%) |
Sep 8, 2026 6w ago | 8-K | $16.26 $15.71 | ▼ −3.38% | ▼ −2.72% | $12.12 (−25.46%) |
May 8, 2026 24w ago | 8-K | $13.97 $14.11 | ▲ +1.00% | ▲ +1.09% | $12.12 (−13.24%) |
US Market Status
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