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Jul 01, 2023
Haemonetics Q1 2024 Earnings Report
Haemonetics reported first quarter fiscal 2024 results and updated fiscal 2024 guidance.
Key Takeaways
Haemonetics Corporation reported a strong first quarter in fiscal year 2024, with a 19% increase in revenue to $311 million and adjusted earnings per diluted share of $1.05. The company's performance was driven by market-leading results across all business segments and advancements in innovation and commercial pipelines.
Revenue increased by 19% to $311 million.
Organic revenue increased by 21%.
Earnings per diluted share were $0.80.
Adjusted earnings per diluted share were $1.05.
Haemonetics
Haemonetics
Haemonetics Revenue by Segment
Revenue by Segment
Plasma Revenue
CapyFin.comBlood Center Revenue
CapyFin.comHospital Revenue
CapyFin.com Forward Guidance
The Company updated its previous fiscal 2024 GAAP total revenue and organic revenue growth guidance. Additionally, the Company reaffirmed its adjusted operating margin guidance and updated its adjusted earnings per diluted share guidance and free cash flow before restructuring and restructuring related costs guidance
Positive Outlook
- Total Company Reported: 6 - 9%
- Total Company Organic: 7 - 10%
- Plasma revenue: 8 - 11%
- Hospital revenue: 16 - 18%
- Adjusted operating margin: 20 - 21%
Challenges Ahead
- Currency impact: (1)%
- Blood Center revenue: (2 - 6)%
- Adjusted earnings per diluted share: $3.60 - $3.90
- Free cash flow, before restructuring & restructuring related costs: $85M - $105M
- The Company does not attempt to provide reconciliations of forward-looking adjusted operating margin guidance, adjusted earnings per diluted share guidance or free cash flow before restructuring and restructuring related costs guidance to the comparable GAAP measures because the combined impact and timing of recognition of certain potential charges or gains, such as restructuring costs and impairment charges, is inherently uncertain and difficult to predict and is unavailable without unreasonable efforts.
Revenue & Expenses
Visualization of income flow from segment revenue to net income