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Dec 31, 2021
STERIS Q3 2022 Earnings Report
STERIS's third quarter revenue increased, with solid growth in a challenging environment.
Key Takeaways
STERIS announced financial results for its fiscal 2022 third quarter ended December 31, 2021. Revenue increased 49% to $1.2 billion compared to the third quarter of fiscal 2021. Constant currency organic revenue increased 9%. As reported, net income for the third quarter was $143.6 million, or $1.42 per diluted share, compared to $114.5 million, or $1.33 per diluted share, in the third quarter of fiscal 2021.
Third quarter revenue increased 49% as reported; 9% constant currency organic
As reported EPS of $1.42; adjusted EPS of $2.12
Healthcare revenue grew 46% to $759.7 million
Outlook for FY22 raised
STERIS
STERIS
STERIS Revenue by Segment
Revenue by Segment
AST Revenue
CapyFin.comLife Sciences Revenue
CapyFin.com Forward Guidance
The Company is updating its expectations for fiscal 2022. Constant currency organic revenue growth is now anticipated to be approximately 11%. Adjusted earnings per diluted share are now anticipated to be in the range of $7.85 to $7.95.
Positive Outlook
- Constant currency organic revenue growth is now anticipated to be approximately 11%
- Adjusted earnings per diluted share are now anticipated to be in the range of $7.85 to $7.95
- The increased outlook reflects solid growth across the business
- Higher cost synergies from the Cantel acquisition
- Capital expenditures are now anticipated to be approximately $300 million and free cash flow is expected to be approximately $420 million.
Challenges Ahead
- Continued challenges from supply chain
- Inflation
- Earnings dilution from the recent divestiture of the Renal Care business
- Supply chain constraints
- Lower patient volumes
Revenue & Expenses
Visualization of income flow from segment revenue to net income