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Jun 30, 2023
Sotera Health Q2 2023 Earnings Report
Sotera Health's financial performance was impacted by Nordion Cobalt-60 harvest schedule timing and volume softness at Sterigenics and Nelson Labs.
Key Takeaways
Sotera Health reported a decrease in second-quarter net revenues by 4% to $255 million, primarily due to Nordion Cobalt-60 harvest schedule timing. Net income decreased to $24 million, or $0.08 per diluted share. The company has adjusted its full-year 2023 net revenue outlook to $1.035 billion to $1.055 billion and Adjusted EBITDA to $520 million to $535 million due to continued volume softness.
Q2 2023 net revenues decreased 4% to $255 million, driven by Nordion Cobalt-60 harvest schedule timing.
Q2 2023 net income decreased to $24 million, or $0.08 per diluted share.
Adjusted EBITDA for Q2 2023 decreased 6% to $128 million, impacted by Nordion Cobalt-60 timing.
Full-year 2023 net revenue outlook adjusted to $1.035 billion to $1.055 billion and Adjusted EBITDA to $520 million to $535 million.
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 is updating its 2023 outlook. Net revenues are expected to be in the range of $1.035 to $1.055 billion, and Adjusted EBITDA in the range of $520 to $535 million.
Positive Outlook
- Net revenues in the range of $1.035 to $1.055 billion, representing growth of approximately 3% to 5%, compared to the prior year
- Adjusted EBITDA in the range of $520 to $535 million, representing growth of approximately 3% to 6%, compared to the prior year
- Tax rate applicable to Adjusted Net Income in the range of 30% to 32%
- Adjusted EPS remains in the range of $0.78 to $0.86
- 2023 year-end Net Leverage Ratio expected to end the year at or below 4.0x
Revenue & Expenses
Visualization of income flow from segment revenue to net income