Integer Holdings Corp (ITGR): Results of Operations and Financial Condition
Integer Holdings Corp (ITGR) filed an SEC Form 8-K — Results of Operations and Financial Condition. EXHIBIT 99.1 Integer Holdings Corporation Reports Second Quarter 2026 Results PLANO, Texas, Aug. 03, 2026 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (NYSE:ITGR) today announced results for the three months ended July 3, 2026. Second Quarter 2026 Highlights (compared to Seco
How this was made
The 30-second read
Why it matters
The definitive all-cash acquisition at $127 per share and withdrawal of guidance/cancellation of the earnings call make this primarily an M&A-driven trading event, with Q2 numbers providing secondary context for fundamentals and leverage.
Market read
Traders should focus on deal mechanics and closing risk after a definitive agreement, using the $127 per-share cash price as the anchor while monitoring any deal-related updates.
What to watch
Integer’s leverage increased and GAAP operating income declined year over year; if deal closing faces delays, the operating deterioration could matter more than the headline cash price.
Integer reported second-quarter sales of $464 million, down 2.6%, while adjusted EPS increased 3.2% to $1.60; the company withdrew its outlook following a definitive agreement for KKR to acquire Integer.
Sales, GAAP operating income, adjusted operating income and adjusted EBITDA declined year over year, while adjusted EPS increased and Cardiac Rhythm Management & Neuromodulation sales grew.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Total Salesother | $ 464,110 | – | (2.6 )% |
| Organic sales changenon-GAAP | (1.5 )% | – | – |
| Operating incomeGAAP | $ 34,528 | – | (41.8 )% |
| Income from continuing operationsGAAP | $ 23,605 | – | (36.2 )% |
| Diluted EPS from continuing operationsGAAP | $ 0.69 | – | (33.7 )% |
| EBITDAnon-GAAP | $ 67,964 | – | (22.4 )% |
| Adjusted EBITDAnon-GAAP | $ 94,939 | – | (4.1 )% |
| Adjusted operating incomenon-GAAP | $ 72,991 | – | (10.2 )% |
| Adjusted net incomenon-GAAP | $ 54,707 | – | (0.2 )% |
| Adjusted EPSnon-GAAP | $ 1.60 | – | 3.2 % |
| Six Months Total Salesother | $ 903,690 | – | (1.1 )% |
| Six Months Operating incomeGAAP | $ 66,397 | – | (39.0 )% |
| Six Months Income from continuing operationsGAAP | $ 40,111 | – | 175.8 % |
| Six Months Diluted EPS from continuing operationsGAAP | $ 1.17 | – | 185.4 % |
| Six Months EBITDAnon-GAAP | $ 133,060 | – | 11.6 % |
| Six Months Adjusted EBITDAnon-GAAP | $ 180,000 | – | (5.5 )% |
| Six Months Adjusted operating incomenon-GAAP | $ 134,044 | – | (11.9 )% |
| Six Months Adjusted net incomenon-GAAP | $ 96,002 | – | (4.7 )% |
| Six Months Adjusted EPSnon-GAAP | $ 2.80 | – | (1.8 )% |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Cardio & VascularReflecting the previously communicated impact from the two new Electrophysiology products. | $ 280,308 | – | (2.3 )% |
| Cardiac Rhythm Management & NeuromodulationGrowth was partially offset by the previously communicated impact from the one new Neuromodulation product. | $ 173,712 | – | 1.0 % |
| Other MarketsPrimarily due to the Portable Medical exit. | $ 10,090 | – | (42.8 )% |
What drove it
- Cardio & Vascular sales reflected the previously communicated impact from the two new Electrophysiology products.
- Cardiac Rhythm Management & Neuromodulation sales increased 1.0 %.
- Other Markets sales declined primarily due to the Portable Medical exit.
- Integer and KKR announced a definitive agreement under which an affiliate of investment funds managed by KKR will acquire all outstanding Integer shares in an all-cash transaction valued at an enterprise value of $5.7 billion.
Concerns
- Total Sales decreased (2.6 )% and organic sales decreased (1.5 )%.
- GAAP operating income decreased (41.8 )% and adjusted operating income decreased (10.2 )%.
- Adjusted EBITDA decreased (4.1 )%.
- Other Markets sales decreased (42.8 )%.
- Total debt increased $53 million from the end of 2025.
What to watch
- Completion of the pending KKR transaction, under which Integer stockholders will receive $127 per share in cash.
- The company has withdrawn its previously issued financial outlook.
- Integer will not host its previously scheduled earnings conference call and webcast scheduled for Thursday, August 6, 2026.
- Sales trends in Cardio & Vascular following the impact from the two new Electrophysiology products.
- The effect of the Portable Medical market exit on Other Markets sales.
Balance sheet and cash flow
- From the end of 2025, total debt increased $53 million to $1.238 billion.
- Non-GAAP net total debt increased $46 million to $1.236 billion.
- Leverage ratio was 3.2 times adjusted EBITDA as of July 3, 2026.
Analysis
Integer reported a softer second quarter, with total sales of $ 464,110 declining (2.6 )% year over year and organic sales declining (1.5 )%. Cardio & Vascular, the largest reported product line, declined (2.3 )% to $ 280,308. The release attributed this result to the previously communicated impact from two new Electrophysiology products. Cardiac Rhythm Management & Neuromodulation was the sole product line with growth, rising 1.0 % to $ 173,712, although its growth was partially offset by the impact from one new Neuromodulation product.
Other Markets was the principal reported area of weakness, with sales declining (42.8 )% to $ 10,090, primarily due to the Portable Medical exit. For the six months ended July 3, 2026, total sales were $ 903,690, down (1.1 )%, while organic sales change was (0.1 )%. Six-month Cardiac Rhythm Management & Neuromodulation sales increased 2.9 %, while Cardio & Vascular sales declined (0.7 )% and Other Markets sales declined (45.1 )%.
Profitability weakened more sharply under GAAP than under the company's adjusted measures. GAAP operating income declined (41.8 )% to $ 34,528 and income from continuing operations declined (36.2 )% to $ 23,605. Adjusted operating income declined (10.2 )% to $ 72,991 and adjusted EBITDA declined (4.1 )% to $ 94,939. Adjusted net income was nearly unchanged at $ 54,707, while adjusted EPS increased 3.2 % to $ 1.60.
The balance-sheet update showed total debt increased $53 million from the end of 2025 to $1.238 billion. Non-GAAP net total debt increased $46 million to $1.236 billion, and the leverage ratio was 3.2 times adjusted EBITDA as of July 3, 2026. The release did not report operating cash flow, free cash flow, cash and cash equivalents, dividends, or share repurchases.
The earnings outlook is superseded by the announced transaction. Integer and KKR entered into a definitive agreement for an affiliate of investment funds managed by KKR to acquire all outstanding shares in an all-cash transaction valued at an enterprise value of $5.7 billion. Stockholders are to receive $127 per share in cash. Given the pending transaction, Integer withdrew its previously issued financial outlook and cancelled its previously scheduled earnings conference call and webcast.
Not in the filing
stated, not guessed- Gross profit and gross margin
- Operating expenses
- GAAP net income other than income from continuing operations
- Cash and cash equivalents
- Operating cash flow
- Free cash flow
- Capital expenditures
- Dividends
- Share repurchases
- Prior-quarter comparisons for reported metrics
- Forward financial guidance, which was withdrawn
- Named executive commentary or quotes
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Integer Holdings filed an 8-K with Q2 2026 operating results and an accompanying press release exhibit, alongside a separate announcement of a definitive acquisition agreement with KKR.
Ticker impact
Integer reported Q2 2026 results and simultaneously disclosed a definitive KKR-led all-cash acquisition at $127 per share, withdrawing guidance.
Near-term price action should track deal probability and financing/regulatory expectations more than Q2 fundamentals; volatility likely elevated around deal terms and process.
The article states a definitive agreement with KKR affiliate to acquire all shares for $127 per share and notes Integer is withdrawing its financial outlook and canceling its earnings call, indicating the deal is the primary driver.
Market effects
Medical device CDMO peers may see read-through on valuation and deal appetite for contract manufacturing platforms, but no peer-specific actions were disclosed here.
Primarily US-listed single-name impact; no regional macro or cross-border regulatory actions were specified.
KKR involvement and a $5.7B enterprise value transaction can influence global private-equity appetite for medtech manufacturing, though the article provides no additional global spillover facts.
Counterpoint
The deal price may already be largely reflected, so incremental upside could be limited unless traders gain new information on closing timeline, regulatory hurdles, or financing conditions.
Key entities
- issuerInteger Holdings Corporation
NYSE-listed medical device CDMO reporting Q2 2026 results and announcing a definitive KKR-led acquisition agreement.
- acquirerKKR
Investment funds managed by KKR, via an affiliate, to acquire all outstanding Integer shares in an all-cash transaction.
