Integra LifeSciences Lowers 2026 Outlook After Cincinnati Plant Flooding

Integra LifeSciences lowered its full-year 2026 revenue and adjusted earnings outlook on Oct. 2, citing the effect of July flooding at its Cincinnati manufacturing facility, according to a press release filed with the Securities and Exchange Commission.

The Princeton, New Jersey, company now expects 2026 revenue of $1.634 billion to $1.654 billion, down from a previous range of $1.654 billion to $1.695 billion. It lowered its adjusted earnings per diluted share guidance to $2.30 to $2.40, from $2.40 to $2.50, and said it expects operating cash flow of about $190 million to $200 million for the year.

For the third quarter, Integra said it expects to report revenue of about $410 million to $412 million and adjusted earnings per diluted share of $0.55 to $0.59. The company said the preliminary figures are unaudited and subject to completion of its closing procedures, and that it will report full third-quarter results on a call in October.

The flood's cost

The flooding damaged portions of the Cincinnati facility, equipment, inventory and other assets and disrupted operations at the site, which manufactures and supports several products in Integra's Specialty Surgical Technologies portfolio, the company said. Integra estimates the supply disruption reduced third-quarter revenue by about $7 million and will reduce fourth-quarter revenue by about $15 million to $20 million. It expects a return to full manufacturing at the site during the second quarter of 2027.

Since the flood, Integra said, it has drawn on available inventory, activated alternate sources of supply for certain products and advanced restoration work at the plant. The company carries property and business interruption insurance on the facility and said it expects insurance recoveries to offset a "substantial portion of the earnings impact associated with the disruption throughout the recovery period and until the facility returns to full manufacturing capacity."

"Our third quarter results were impacted by the July flooding event at our Cincinnati facility," Chairman and Chief Executive Stuart Essig said in the release. He said the company has gained "additional visibility into the recovery timeline and production ramp."

Refinancing and share reaction

Separately, Integra launched a proposed $600 million, seven-year senior secured Term Loan B as part of a broader refinancing intended to extend debt maturities and maintain financial flexibility, RTTNews reported. The company said the final size, terms and pricing remain subject to change, according to the outlet.

Integra shares were down 11.19% at $14.29 in pre-market trading on Friday after closing Thursday at $16.09, RTTNews reported.