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Oct 01, 2022
Haemonetics Q2 2023 Earnings Report
Haemonetics' second quarter results for fiscal year 2023 showed strong revenue growth, driven by plasma and hospital segments, with updated fiscal year 2023 guidance.
Key Takeaways
Haemonetics reported a strong second quarter in fiscal year 2023, with revenue increasing by 24% to $297.5 million. The company's plasma and hospital business units showed significant growth, and Haemonetics updated its fiscal year 2023 guidance, projecting higher revenue and earnings per share.
Second quarter fiscal 2023 revenue increased by 24.0% compared to the prior year.
Earnings per diluted share were $0.64, up from $0.29 in the same quarter of the previous year.
Adjusted earnings per diluted share were $0.83, a 38.3% increase year-over-year.
The company updated its fiscal 2023 revenue growth guidance to 12-15% and organic revenue growth guidance to 15-18%.
Revenue by Segment
Forward Guidance
The Company updated its previous fiscal 2023 GAAP total revenue growth guidance from 8 - 11% to 12 - 15% and its fiscal 2023 organic revenue growth guidance as follows:
Positive Outlook
- Total revenue growth is projected between 12-15%.
- Organic revenue growth is projected between 15-18%.
- Plasma revenue growth is projected between 30-35%.
- Hospital revenue growth is projected between 19-22%.
- Free cash flow, before restructuring & restructuring related costs is projected between $150M - $180M.
Challenges Ahead
- Blood Center revenue growth is projected between -2% to -5%.
- Currency impact of 3% on revenue growth.
- Strategic exits within the liquid solution business are projected to be less than 1%.
- Adjusted operating margin is projected between 18-19%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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