AUDUBON, PA — Globus Medical (NYSE: GMED) raised its 2026 earnings outlook after first-quarter revenue climbed 27% and profit growth outpaced sales gains, driven by spine procedure demand and contributions from its acquisition of Nevro.
The musculoskeletal technology company reported first-quarter worldwide net sales of $759.9 million for the period ended March 31, up from the prior year, while GAAP net income rose 64.7% to $124.3 million. Diluted earnings per share increased to $0.90 from $0.54 a year earlier.
Excluding Nevro, acquired last year, base business revenue increased 13.2% to $677.2 million. Nevro contributed $82.7 million in quarterly sales, according to the company.
Globus increased its full-year 2026 non-GAAP diluted earnings guidance to a range of $4.70 to $4.80 per share, up from prior guidance of $4.40 to $4.50. The company reaffirmed projected annual revenue of $3.18 billion to $3.22 billion.
President and Chief Executive Officer Keith Pfeil attributed the quarter’s performance to gains in the company’s core spine business and operational efficiencies.
“We’re off to a strong start in 2026 with 27% overall revenue growth and record first quarter earnings,” Pfeil stated. He added that manufacturing, supply chain and cost-control initiatives helped expand margins faster than sales growth.
U.S. sales increased 25% during the quarter, while international sales rose 35.6% on a reported basis and 27.8% in constant currency terms.
Chief Financial Officer Kyle Kline noted that U.S. Spine posted its third consecutive quarter of double-digit growth and that the Nevro integration remained on track.
“Nevro performed as expected as we continue to diligently work through the integration and adapt the business to Globus’ systems, processes, and metrics,” Kline stated.
Non-GAAP diluted earnings per share, which exclude items including amortization, acquisition-related costs and restructuring expenses, rose to $1.12 from $0.68 in the prior-year quarter.
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