EarningsQ2 2026 Earnings Report
CH:C520 Q2 2026 EPS Results
Actual EPSCHF0.74
Consensus EPSCHF0.70
Beat/MissBeat by +CHF0.04
One Year Ago EPSCHF0.65
CH:C520 Q2 2026 Revenue Results
Actual RevenueCHF480.12M
Expected RevenueCHF479.34M
Beat/MissBeat by +CHF778.53K
YoY Revenue Growth+3.23%
Earnings Announcement Details
QuarterQ2 2026
Date08/06/2026
TimeBefore Open
Conference CallThursday, August 6, 2026
CH:C520 Upcoming Earnings
Enovis's next earnings date is estimated for November 5, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
CH:C520 Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was broadly positive. Enovis delivered 5% organic growth, strong U.S. Recon and new-product momentum, improved margins, higher adjusted EPS, a significant improvement in free cash flow, and progress on deleveraging while reaffirming 2026 guidance. The principal challenges were inflation, tariffs, Middle East-related disruption, softer Western European markets, and a seasonally more difficult third quarter, but management expressed confidence in commercial execution and second-half acceleration.Company Guidance
Strong Second-Quarter Organic Growth
Second-quarter sales were $583 million, up 3% versus the prior year on a reported basis and up 5% organically. Days-adjusted organic growth was 4% at the enterprise level, 5% in Recon, and 3% in P&R, in line with guidance.
Solid First-Half Performance
For the first half, Enovis grew 4% organically and 5% on a days-adjusted basis, with Recon up 7% and P&R up 3%.
U.S. Recon and Hip-and-Knee Growth
U.S. Recon grew 6% organically in the second quarter, led by 8% organic growth in hips and knees. Through the first half, both hips and knees and extremities were up 8%, driven by commercial execution and new products.
International Recon and Shoulder Momentum
International Recon grew 6% organically in the second quarter, including double-digit growth in shoulders. The company said it continues to strengthen its global portfolio and remains positioned to take market share.
Nebula Adoption and Competitive Conversions
Nebula continued to be a growth driver, with over 80% of new instrumentation sets in the second quarter going to competitive users. The company also reported continued customer conversions as the rollout progresses.
ARVIS Commercial Launch and Positive Early Feedback
ARVIS moved into full commercial launch in the U.S. during the second quarter. Management reported very positive early feedback from surgeons, clinicians, and commercial teams, a tremendous demand funnel, and plans to expand the rollout in shoulders and international markets during the second half of 2026.
P&R Segment Growth and Product Strength
P&R grew 3% organically year over year. Global bracing grew 4%, including mid-single-digit growth in the U.S., driven by revenue cycle management and spine bracing. Recovery Sciences and Bone Stim delivered mid- to high-single-digit growth.
New Product and Commercial Execution Opportunities
Management expects new products to contribute more later in the year. It cited continued penetration of Nebula and ARG, new P&R products and customer conversions, the Regen business meaningfully taking share, and the planned launch of CT-RevitL for laser treatment in the companion market.
Foot-and-Ankle Outperformance
The foot-and-ankle team had a strong quarter and grew meaningfully above the estimated 4%-6% market growth range, supported by commercial execution, account conversions, and a strong innovation pipeline.
Improved Gross Margin and EBITDA Margin
Adjusted gross margin was 62%, an underlying improvement of 120 basis points, driven by an $8 million benefit from 2025 tariff refunds and operational productivity. Adjusted EBITDA margin was 17.9%, an underlying improvement of 70 basis points and an improvement of 20 basis points through the first half.
Adjusted EPS Growth
Adjusted earnings per share was $0.90, representing 14% underlying growth in the quarter and 12% earnings growth through the first half.
Significant Free Cash Flow Improvement
Second-quarter free cash flow was $31 million, an improvement of $27 million versus the prior year. The company reached slightly positive free cash flow generation in the first half and reaffirmed its expectation for free cash flow conversion of greater than 25% in 2026.
Deleveraging and Balance-Sheet Progress
Management said it had moved from negative free cash flow to positive free cash flow, reduced leverage to 3.1 times, and refinanced the balance sheet to improve terms and capacity. The company continues to target leverage below three times this year.
2026 Guidance Reaffirmed
The company reaffirmed its 2026 guidance and said commercial execution, targeted share gains, new-product scaling, and continued market-share gains remain central to delivering its commitments.
Operational Discipline and Margin Expansion Initiatives
Management said it changed the operating cadence, attracted new senior leadership talent, strengthened daily management, revised incentive plans, expanded EGX, and embedded a One Enovis mindset. It also cited productivity, manufacturing and supply-chain improvements, Lima integration synergies, and a multi-year cadence of margin expansion.
Continued Investment in Innovation and Technology
Enovis is continuing to invest in people, process, products, technologies, teams, and capabilities intended to improve clinical outcomes, optimize surgical efficiency, respond to customer preferences, and support long-term growth.
ASC Opportunity and Commercial Positioning
Management said it is positive on the ASC setting because of patient and physician preference, reimbursement dynamics, and opportunities for account acquisition and market-share gains. ARVIS was described as well suited to ASCs because it is mobile, can move between rooms, and can be taken from account to account.
Positive Outlook for Value Creation
Management expects value creation to come from a combination of revenue growth, margin expansion, and free cash flow conversion. It also cited Global Business Services facilities in Portugal and Hyderabad, with a third being opened in the Americas, as initiatives expected to contribute to margin accretion.
CH:C520 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed