What factors drove the changes in Enovis's revenue and profit?

What guidance did Enovis's management provide for the next earnings period?

What does Enovis do and what are its main business segments?

What were the key takeaways from Enovis's earnings call?

What were the key takeaways from Enovis’s earnings call?

What is Enovis's latest dividend and current dividend yield?

What is the revenue and EPS growth rate for Enovis year over year?

Did Enovis beat or miss consensus estimates last quarter?

- **Revenue Growth**: Q3 2025 revenue up 9% YoY, driven by 12% international Recon growth and 7% U.S. Hips/Knees expansion. 
- **Margin Expansion**: Adjusted gross margin +140bps to 52.3%, EBITDA margin 17.3%. 
- **Strategic Moves**: $60M sale of Dr. Comfort reduces debt, sharpening focus on higher-margin P&R segments. 
- **Product Pipeline**: Arvis Ultra launch in H1 2026 expected to accelerate U.S. Hip/Knee growth. 
- **2026 Targets**: High-single-digit Recon growth, mid-single-digit P&R growth, 70-80% free cash flow conversion. 
- **Risk Management**: Tariff mitigation efforts underway, but $4M Q3 impact mostly offset by price increases in P&R. 


**【CEO Summary Section】**
- **Revenue Growth**: Q3 2025 revenue of $549M, up 9% YoY (7% organic). Recon grew 9% organically, driven by 12% international expansion and 7% U.S. Hips/Knees growth. P&R grew 4% organically.
- **Product Highlights**: ARG shoulder system shows strong traction; Arvis Ultra launch in H1 2026 expected to drive growth. Nebula Stem and Orthodrive Impactor implants performing well.
- **Portfolio Optimization**: Sold Dr. Comfort for $60M, reducing debt and sharpening focus on higher-margin P&R segments. 50% of P&R portfolio now mid-single-digit growth.
- **Operational Focus**: Adjusted gross margin +140bps to 52.3%, EBITDA margin 17.3%. Free cash flow $30M, up 100% YoY. 
- **Guidance Update**: Full-year 2025 revenue $2.24-2.27B, EBITDA $395-405M, EPS $3.10-3.25. 2026 targets include high-single-digit Recon growth and 70-80% free cash flow conversion.

**【CFO Financial Commentary】**
- **Financial Performance**: Q3 2025 adjusted EPS $0.75 (up 3% YoY). Year-to-date EPS +27% due to margin expansion and lower interest costs. 
- **Tariff Impact**: $4M tariffs paid Q3, mostly P&R. Mitigation efforts underway but some costs flowing through P&L. 
- **Balance Sheet**: Reduced debt by $45M from Dr. Comfort sale. Leverage ratio now low 3x. 
- **Goodwill Impairment**: $548M non-cash charge due to share price decline, no impact on operations.

**【Q&A Highlights】**
- **Market Trends**: U.S. procedure volumes stable Q4, but cautious on 2026 due to entitlement cuts and inflation. 
- **Arvis Impact**: No implant sales impact from delayed launch. Full launch in Q1 2026 expected to drive U.S. Hip/Knee growth. 
- **Tariff Mitigation**: Price increases in P&R offsetting 50bps of tariff impact. 
- **Free Cash Flow**: 2026 targets 70-80% conversion, enabled by reduced integration/EU MDR costs. 
- **Divestiture Benefits**: Dr. Comfort sale removes 5% of P&R revenue but improves margin mix. 
- **2026 Outlook**: High-single-digit Recon growth, mid-single-digit P&R growth. 


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