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Mar 31, 2021
STERIS Q4 2021 Earnings Report
STERIS's Q4 2021 financial results were announced, with revenue increasing by 6% and adjusted EPS remaining flat year-over-year. The company also provided its outlook for fiscal year 2022, including the impact of the Cantel Medical acquisition.
Key Takeaways
STERIS plc reported a 6% increase in revenue to $873.5 million for the fourth quarter of fiscal year 2021, driven by growth in all three segments. Net income was $87.4 million, or $1.02 per diluted share, while adjusted net income was $140.3 million, or $1.63 per diluted share.
Fourth quarter revenue increased 6% as reported.
Constant currency organic revenue increased 0.3%.
Net income for the fourth quarter was $87.4 million, or $1.02 per diluted share.
Adjusted net income for the fourth quarter was $140.3 million, or $1.63 per diluted share.
STERIS
STERIS
STERIS Revenue by Segment
Revenue by Segment
AST Revenue
CapyFin.comLife Sciences Revenue
CapyFin.com Forward Guidance
STERIS expects as reported revenue of approximately $4.5 billion for fiscal 2022. Constant currency organic revenue growth is expected to be in the range of 8-9%. Adjusted earnings per diluted share are anticipated to be in the range of $7.40 - $7.65.
Positive Outlook
- As reported revenue of approximately $4.5 billion.
- Constant currency organic revenue growth is expected to be in the range of 8-9%.
- Currency movements are anticipated to be favorable to revenue by approximately $15 million.
- Adjusted earnings per diluted share are anticipated to be in the range of $7.40 - $7.65.
- Free cash flow for fiscal 2022 is expected to be approximately $380 million.
Challenges Ahead
- Integration and deal related costs primarily for the purchase of Cantel Medical are expected to be approximately $200 million.
- Capital spending is anticipated to be approximately $320 million for the combined company.
- The failure to obtain Cantel stockholder approval of the proposed transaction.
- The possibility that the closing conditions to the proposed transaction may not be satisfied or waived.
- Delay in closing the proposed transaction or the possibility of non-consummation of the proposed transaction.
Revenue & Expenses
Visualization of income flow from segment revenue to net income