Haemonetics Q3 2022 Earnings Report
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
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