LeMaitre Q3 Sales Up 11% to $68.0M; EPS $0.65, FY26 Guidance $2.77-$2.82
LMAT is trading near its 52-week low of $78.22 (2.7% below the low).
Summary
LeMaitre reported Q3 2026 sales of $68.0 million (+11%, +12% organic) and GAAP EPS of $0.65, down 14% on last year's tax-credit benefit but up 5% adjusted. It also disclosed a $19.2 million October purchase of B. Braun vascular assets and reiterated full-year guidance of $2.77-$2.82 EPS.
Updates
· Reuters — LeMaitre Vascular's Q3 sales rose 11% to $67.97 mln, slightly beating the $67.39 mln consensus of 8 analysts.
- Organic sales growth driven by a 7% increase in average selling prices and a 5% rise in units sold
- Americas sales increased 9% and APAC sales 5%
- Q3 net income $15.02 mln; gross profit $48.7 mln; pretax profit $19.67 mln
Key Events · Earnings and Guidance · LMAT
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Q3 Sales Up 11% to $68.0M
Sales of $68.0 million rose 11% (+12% organic) versus Q3 2025, driven by grafts (+20%) and shunts (+14%); Artegraft sales increased 18% and EMEA grew 18%.
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GAAP EPS Falls 14% on Tax Credit
GAAP EPS of $0.65 was down 14% because Q3 2025 included a non-recurring Employee Retention Tax Credit; adjusted EPS rose 5% and adjusted operating income rose 5% to $17.7 million.
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$19.2M B. Braun Asset Purchase
In October the company acquired certain vascular assets from B. Braun for $19.2 million; the polyester and silver-coated grafts, valve cutters and vein strippers recorded $9.4 million of 2025 sales, all outside North America, transitioning into LeMaitre's channel over 18-24 months.
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Full-Year Guidance Reiterated
FY2026 guidance is sales of $274.8-$276.8 million (+11%) and EPS of $2.77-$2.82 (+11% GAAP, +18% adjusted); Q4 guidance is sales of $69.9-$71.9 million and EPS of $0.70-$0.75.
Analysis · LMAT · Industrial Applications And Services
Q3 sales grew 11% to $68.0 million, with organic growth of 12%, yet GAAP EPS fell 14% to $0.65 because last year's quarter carried a non-recurring Employee Retention Tax Credit; on an adjusted basis, EPS rose 5% and operating income rose 5%. The bigger news is capital deployment: in October the company bought certain vascular assets from B. Braun for $19.2 million, adding products that did 2025 sales of $9.4 million entirely outside North America, with sales transitioning into LeMaitre's channel over 18-24 months. Full-year guidance of $274.8-$276.8 million in sales and $2.77-$2.82 in EPS keeps the mid-teens adjusted profit growth story intact, and the $0.25 quarterly dividend is unchanged in size from the prior payout. With the stock near its 52-week low, the market is focused on whether the margin compression and slower EPS growth are temporary.
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At the time of this filing, LMAT was trading at $76.11 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $2B. The 52-week trading range was $78.22 to $118.01. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.