Utah Medical Products (UTMD) Q3 2026 earnings summary

Executive summary

• 3Q 2026 sales fell 12.1% YoY to $8.621M; net income rose 5.9% to $2.787M and diluted EPS increased 6.8% to $0.876.

• Lost PendoTECH and China distributor sales, lower Filshie demand, and weaker neonatal device sales drove declines; Orion acquisition sales and new customer wins partly offset them.

Financial highlights

• 9M sales declined 12.2% to $25.873M; gross profit fell 11.1% to $14.880M, operating income fell 10.6% to $8.009M, and net income fell 7.4% to $8.077M.

• 3Q operating income rose 7.0% to $2.795M despite gross profit decreasing 13.6% to $4.840M; lower litigation and amortization expenses offset lower sales.

• Adjusted EBITDA was $3.735M, or 43.3% of sales, in 3Q and $11.303M, or 43.7%, in 9M; TTM adjusted EBITDA was $15.269M.

Outlook and guidance

• FY 2026 sales are projected to decline close to 7%, versus the 12% 9M decline; projections remain uncertain.

• 4Q 2026 replacement sales are expected to exceed sales to the two former customers in both 4Q 2025 and 4Q 2024.

• Biopharma OEM replacement sales developed more slowly than projected; the new China BPM distributor and Orion acquisition were not included in the initial outlook.