STERIS Q3 2020 Earnings Report
Key Takeaways
STERIS plc announced financial results for its fiscal 2020 third quarter ended December 31, 2019. Revenue as reported for the quarter increased 11% to $774.3 million. Net income for the third quarter was $104.9 million, or $1.23 per diluted share. Adjusted net income for the third quarter of fiscal 2020 was $124.0 million, or $1.45 per diluted share.
Third quarter revenue grew 11% as reported, 12% constant currency organic
EPS as reported increased to $1.23, adjusted EPS increased to $1.45
Outlook updated to reflect stronger than anticipated performance
The company is increasing its guidance for revenue, earnings and cash flow for the full fiscal year.
STERIS
STERIS
STERIS Revenue by Segment
STERIS Revenue by Geographic Location
Forward Guidance
Based on current performance and expectations for the full fiscal year, the Company is updating its prior outlook. Constant currency organic revenue growth is now expected to be approximately 9%. Adjusted earnings per diluted share are now anticipated to be at the high-end of the previously communicated range of $5.50 - $5.65. Capital spending is anticipated to be approximately $240 million and free cash flow is expected to be approximately $340 million.
Positive Outlook
- Constant currency organic revenue growth is now expected to be approximately 9%
- Adjusted earnings per diluted share are now anticipated to be at the high-end of the previously communicated range of $5.50 - $5.65
- Capital spending is anticipated to be approximately $240 million
- Free cash flow is expected to be approximately $340 million
Challenges Ahead
- Currency movements will negatively impact as reported revenue by approximately $20 million in fiscal 2020
Revenue & Expenses
Visualization of income flow from segment revenue to net income