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Mar 31, 2024
Sotera Health Q1 2024 Earnings Report
Sotera Health's first quarter performance in 2024 showed revenue and net income growth.
Key Takeaways
Sotera Health reported a solid start to 2024 with a 12.5% increase in net revenues to $248 million and a rise in net income to $6 million, or $0.02 per diluted share. The company reaffirmed its 2024 outlook, focusing on strategic priorities amidst market headwinds.
Net revenues increased by 12.5% to $248 million compared to Q1 2023.
Net income was $6 million, or $0.02 per diluted share, up from $3 million, or $0.01 per diluted share in Q1 2023.
Adjusted EBITDA increased by 13.7% to $112 million compared to Q1 2023.
Adjusted EPS was $0.13, consistent with Q1 2023.
Sotera Health
Sotera Health
Sotera Health Revenue by Segment
Revenue by Segment
Sterigenics Revenue
CapyFin.comNordion Revenue
CapyFin.comNelson Labs Revenue
CapyFin.com Forward Guidance
Sotera Health reaffirmed its 2024 outlook, initially provided on February 27, 2024.
Positive Outlook
- Net revenues and Adjusted EBITDA growth in the range of 4.0% to 6.0%.
- Interest Expense in the range of $170 million to $180 million.
- Tax rate applicable to Adjusted Net Income in the range of 31.5% to 34.5%.
- Adjusted EPS in the range of $0.67 to $0.75.
- A weighted-average fully diluted share count in the range of 283 million to 285 million shares.
Challenges Ahead
- Capital expenditures in the range of $205 million to $225 million.
- Supply chain continuity, particularly for the supply of EO and Cobalt-60.
- The impact of inflationary trends including their impact on energy prices and the supply of labor.
- The expectation that exchange rates as of March 31, 2024 remain constant for the remainder of 2024.
- Uncertainties caused by changes to the regulatory landscape, restructuring items and certain fair value measurements.
Revenue & Expenses
Visualization of income flow from segment revenue to net income