Germany's Carl Zeiss Meditec misses Q1 revenue estimates, suspends FY outlook

Carl Zeiss Meditec AG

12/02/2026 06:12

Overview

Germany's medical technology firm's Q1 revenue declined, missing analyst expectations

Company's EBITA fell sharply due to negative currency effects and unfavorable product mix

Fiscal year 2025/26 outlook suspended amid geopolitical uncertainties and weak CapEx spending

Outlook

Company suspends FY 2025/26 outlook due to weak start and geopolitical uncertainties

Carl Zeiss Meditec plans to update FY 2025/26 outlook by May 2026

Company expects significant price erosion in China due to new tender competition

Result Drivers

CURRENCY EFFECTS - Negative currency effects significantly impacted revenue and EBITA, contributing to weaker results

PRODUCT MIX - Unfavorable product mix, including lower revenues from neurosurgical microscopes and refractive treatment packs, affected operating profit

REGIONAL FACTORS - Revenue declines in APAC and Americas due to geopolitical uncertainties and weak investment environments

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
EUR 467 mln
EUR 484.18 mln (4 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 15 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the advanced medical equipment & technology peer group is "buy."

Wall Street's median 12-month price target for Carl Zeiss Meditec AG is €36.00, about 32.7% above its February 11 closing price of €27.12

The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 21 three months ago

Press Release: ID:nEQchj9HNa

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)