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Sep 30, 2023
Haemonetics Q2 2024 Earnings Report
Haemonetics' financial performance strengthened with revenue growth and strategic investments.
Key Takeaways
Haemonetics reported a 7% increase in revenue for the second quarter of fiscal year 2024, reaching $318 million. The company's adjusted earnings per diluted share increased by 19.3% to $0.99. They have also updated their fiscal 2024 guidance with increased expectations for revenue, adjusted operating margin, adjusted EPS, and free cash flow.
Second quarter revenue increased by 7% to $318 million.
Adjusted earnings per diluted share rose by 19.3% to $0.99.
Operating income was $35.3 million with an 11.1% operating margin.
The company updated its fiscal 2024 guidance with higher expectations for revenue and profitability.
Revenue by Segment
Forward Guidance
The Company updated its previous fiscal 2024 GAAP total revenue and organic revenue growth guidance.The increase in free cash flow guidance before restructuring and restructuring-related costs is due to benefits from working capital and changes in capital expenditures, which were understated in our previously issued guidance.
Positive Outlook
- Total Company Reported: 7 - 9%
- Total Company Organic: 8 - 10%
- Plasma revenue: 10 - 12%
- Hospital revenue: 16 - 18%
- Adjusted operating margin: ~21%
Challenges Ahead
- Currency impact: (1)%
- Blood Center revenue: (2 - 4)%
- Adjusted earnings per diluted share: $3.75 - $3.95
- Free cash flow, before restructuring & restructuring related costs: $170M - $190M
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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