Shares of the medical company Integra plummeted. The company lowered its forecast due to flooding

Shares of Integra LifeSciences, a small-cap manufacturer of brain surgery equipment and advanced wound care technologies, plummeted 21% on October 2. The company reported that the July flooding in Ohio destroyed part of the inventory and equipment at its plant. This led to weak quarterly results and a downward revision of its full-year forecast.

Integra's stock fell 21% on the Nasdaq on October 2, to $12.7. This is the lowest level since early May.

According to the company’s preliminary third-quarter results, its revenue increased by approximately 2% year-over-year, ranging from $410 million to $412 million. Adjusted earnings per diluted share (EPS) for the reporting period reached approximately $0.55–$0.59, compared with a loss of $0.17 for the same period in 2025.

The third-quarter results were impacted by the damage caused to Integra by the July flood in Cincinnati, Ohio, explained CEO Stuart Essig. At that time, the city received more than 15 cm of rainfall in one hour—more than is typical during a storm—which caused a river floodgate to fail and resulted in the flooding of several roads, homes, and businesses. This disrupted the plant’s operations—part of the equipment, inventory, and other assets were destroyed—and consequently led to supply disruptions. Because of this, the small-cap company lost approximately $7 million in revenue in the third quarter and, according to forecasts, will lose about $15–20 million in the fourth.

Integra has lowered its revenue guidance for the full year 2026. The previous range was $1.65–$1.7 billion, which implied growth of 1–3.5%. According to the updated forecast, the company expects revenue of $1.63–$1.65 billion, which is roughly in line with last year’s results. In addition, it reported that EPS for 2026 will be $2.3–2.4, down from the previously expected $2.4–2.5. For 2025, the company reported a loss of $6.74.

The company believes that production at the site will be fully restored in the second quarter of 2027.

Despite the stock's plunge, Integra remains in positive territory this year: it has gained 2% since the beginning of January. Wall Street, on the whole, takes a cautious view of the company’s prospects: seven Wall Street analysts recommend holding the stock, three recommend buying it, and two recommend selling it. The average price target is $18.9, which implies a 49% upside from the last closing price.