Integer Holdings Corporation (NYSE: ITGR) announced its financial results for the third quarter ended October 2, 2026. The company reported total sales of $450 million for the quarter, a decrease of 3.9% compared to the same period in the prior year. On an organic basis, sales decreased by 2.2%.
Regarding profitability, GAAP operating income from continuing operations totaled $28 million, a decrease of 50% year-over-year. Non-GAAP adjusted operating income was $66 million, down 23%. GAAP income from continuing operations was $15 million, a decline of 62%. Non-GAAP adjusted net income totaled $46 million, a decrease of 27%. The company reported GAAP diluted EPS of $0.43, down 61%, and non-GAAP adjusted EPS of $1.34, down 25%.
Segment performance varied during the quarter. Cardio & Vascular sales decreased 5% to $263 million, reflecting the impact of two new Electrophysiology products. Cardiac Rhythm Management & Neuromodulation sales increased 4% to $176 million, partially offset by the impact of one new Neuromodulation product. Other Markets sales totaled $11 million, a decrease primarily due to the exit of the Portable Medical market.
As of October 2, 2026, total debt increased $34 million to $1.219 billion, and non-GAAP net total debt increased $33 million to $1.223 billion. The company reported a leverage ratio of 3.3 times adjusted EBITDA.
The filing notes that Integer is in the process of being acquired by an affiliate of investment funds managed by KKR. The Merger Agreement was dated August 2, 2026. The company received early termination of the Hart-Scott-Rodino Antitrust waiting period on September 29, 2026, and stockholder approval was received on October 21, 2026. The transaction is anticipated to close by the end of 2026, subject to the satisfaction of customary closing conditions, including regulatory approvals. Due to the pending transaction, the company is not providing a financial outlook or hosting a conference call to discuss the results.
