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Jan 01, 2022
Haemonetics Q3 2022 Earnings Report
Haemonetics' financial performance reflected agility and resilience in meeting pandemic challenges, with improved plasma collections and customer conversions to NexSys and Persona technologies. Hospital business achieved double-digit growth, marked by a record quarter for Hemostasis Management and Vascular Closure sales. Operational Excellence Program strengthened manufacturing and supply capabilities, significantly improving gross margins.
Key Takeaways
Haemonetics reported an 8.1% increase in revenue to $259.8 million for the third quarter of fiscal year 2022. Earnings per diluted share were $0.45, and adjusted earnings per diluted share reached $0.84. The company updated its fiscal 2022 revenue growth guidance to 12-14% and organic revenue growth to 5-7%.
Third-quarter revenue increased by 8.1% to $259.8 million compared to the previous year.
Earnings per diluted share (EPS) stood at $0.45, while adjusted EPS reached $0.84.
Gross margin improved to 53.3%, up from 50.0% in the prior year, driven by the Vascular Closure business acquisition and productivity savings.
The company updated its fiscal 2022 revenue growth guidance to 12-14% and organic revenue growth to 5-7%.
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 2022 GAAP total revenue growth guidance from 13 – 17% to 12 – 14% and its fiscal 2022 organic revenue growth guidance as follows:
Positive Outlook
- Total revenue guidance includes $90 - $95 million of revenue related to Vascular Closure.
- Hospital organic revenue guidance includes a Hemostasis Management organic revenue growth rate in the mid-twenties.
- Adjusted operating margin guidance: 18 - 19%
- Adjusted earnings per diluted share guidance: $2.45 - $2.55
- Previous Organic Guidance Total revenue 7 - 10%
Challenges Ahead
- Total revenue organic guidance: 5 - 7%
- Plasma revenue organic guidance: 8 - 10%
- Hospital revenue organic guidance: 16 - 18%
- Blood Center revenue organic guidance: (3 - 5%)
- Free cash flow, before restructuring & restructuring related costs guidance: $110M - $120M
Revenue & Expenses
Visualization of income flow from segment revenue to net income