Orthopedic device company Enovis has seen a decline in its stock prices following the release of its first quarter financial results, according to a May 8 report from MassDevice.
Enovis has predicted that tariffs levied by the Trump administration will impact its profits by $20 million, causing the company to drop its full year EBITDA from $405 million to $415 million to $385 million to $395 million.
The company’s shares dropped by more than 5% after news of the forecast was released.
“Even if current levels continue, we expect to exit the year on a path to recover a portion of the 2025 impact in 2026. The tariff situation remains very fluid,” Ben Berry, CFO of Enovis, said during the company’s earnings call.
Enovis did drop its predicted tariff impact from $40 million to $20 million after creating plans to move some of its sourcing and manufacturing out of China.
Despite predicted headwinds, Enovis reported Q1 sales of $559 million, up 8% from the first quarter of 2024, and an 11% year-over-year sales growth for its reconstructive segment.
