STERIS Q3 2024 Earnings Report
Key Takeaways
STERIS announced a 15% increase in revenue to $1.40 billion for the third quarter of fiscal 2024. As reported diluted earnings per share increased to $1.42, and adjusted earnings per share increased to $2.22. The company updated its fiscal 2024 outlook, expecting revenue to increase by 10-11% and adjusted earnings per diluted share to be in the range of $8.60 to $8.70.
Third quarter revenue increased by 15% as reported, with a 10% increase in constant currency organic revenue.
As reported diluted earnings per share increased to $1.42; adjusted earnings per share increased to $2.22.
The Healthcare segment experienced continued momentum, reflecting solid procedure volume growth in the United States and the easing of supply chain constraints.
Revenue outlook for fiscal 2024 has increased due to outperformance within the Healthcare segment.
STERIS
STERIS
STERIS Revenue by Segment
STERIS Revenue by Geographic Location
Forward Guidance
For fiscal year 2024, STERIS expects as reported revenue to increase 10-11%, with constant currency organic revenue growth of 7-8%. Adjusted earnings per diluted share are anticipated to be in the range of $8.60 to $8.70.
Positive Outlook
- Revenue is expected to increase 10-11%.
- Constant currency organic revenue growth is expected to be 7-8%.
- Primary driver of the increase in revenue growth is the outperformance of the Healthcare segment.
Challenges Ahead
- Adjusted earnings per diluted share are anticipated to be in the range of $8.60 to $8.70, compared with prior expectations of $8.60 to $8.80.
- Shift in operating income mix from AST to Healthcare.
Revenue & Expenses
Visualization of income flow from segment revenue to net income