Carl Zeiss Meditec AG Misses EPS by 28%, Analysts Predict 6.5% Revenue Growth in 2026.

Carl Zeiss Meditec AG reported Q3 results that fell 28% short of analyst estimates, with revenues of €550m in line with predictions. Analysts forecast a 6.5% revenue growth to €2.32b in 2026, and a 29% increase in statutory earnings per share to €2.22. The average price target fell 9.1% to €57.01, with a broad range of estimates from €35.10 to €72.00 per share.

Carl Zeiss Meditec AG reported its third-quarter results for the fiscal year 2024/25, with revenues of €549.6 million, in line with analyst expectations. However, the company's earnings per share (EPS) fell 28% short of estimates, with EPS reported at €0.32 compared to the expected €0.45. The company's net income decreased to €28.4 million, a 17% decline from the previous quarter.

Despite the miss in EPS, analysts remain optimistic about the company's future. They forecast a 6.5% revenue growth to €2.32 billion for 2026, with a 29% increase in statutory earnings per share to €2.22. The average price target has fallen by 9.1% to €57.01, with estimates ranging from €35.10 to €72.00 per share.

The company's President and Chief Executive Officer, Maximilian Foerst, commented on the results, stating, "We are satisfied with the level of growth. We had to contend with headwinds in the third quarter, in particular in the form of negative currency effects and the introduction of US trade tariffs, were nevertheless able to achieve both organic growth and earnings growth. In the fourth quarter, it is particularly important to continue accelerating device deliveries in order to secure our targets for the fiscal year."

The company's revenue growth was driven by strong performance in the Americas region, which saw a 14.2% increase in revenue to €407.5 million, and the EMEA region, which saw a 11.7% increase to €482.8 million. The APAC region recorded a slight increase in revenue of +1.8% to €709.9 million.

However, the company's gross margin declined to 52.7% from 53.7% in the previous quarter, mainly due to negative product mix effects and price declines for intraocular lenses in China.

Looking ahead, the company expects moderate growth in revenue for the 2024/25 fiscal year, with the EBITA and EBITA margin expected to be stable or slightly higher. The introduction of 15% trade tariffs by the US on imports from Europe is expected to have a negative impact on earnings in the current fiscal year.

[1] https://www.zeiss.com/meditec-ag/en/media-news/press-releases/2025/quarterly-statement-9-months.html
[2] https://finance.yahoo.com/news/carl-zeiss-meditec-third-quarter-063609824.html