STERIS Announces Financial Results for Fiscal 2024 Fourth Quarter and Full Year

• Total fiscal 2024 revenue increased 12% to $5.5 billion
  
• Total fiscal 2024 U.S. GAAP earnings per diluted share of $3.81; adjusted earnings per diluted share increased to $8.83
• Targeted restructuring plan announced
  
  

DUBLIN, IRELAND , May 08, 2024 (GLOBE NEWSWIRE) --  STERIS plc (NYSE: STE) (“STERIS” or the “Company”) today announced financial results for its fiscal 2024 fourth quarter ended March 31, 2024. Total revenue for the fourth quarter of fiscal 2024 increased 10% to $1.5 billion compared with $1.4 billion in the fourth quarter of fiscal 2023. Constant currency organic revenue from continuing operations for the fourth quarter increased 7% to $1.4 billion compared with $1.3 billion in the fourth quarter of fiscal 2023.

Total revenue for fiscal 2024 increased 12% to $5.5 billion compared with $5.0 billion in fiscal 2023. Constant currency organic revenue from continuing operations for fiscal 2024 increased 10% to $5.0 billion compared with $4.5 billion in fiscal 2023.

“We are pleased with the strong finish to the fiscal year, as our Healthcare segment continued their trend of outperformance, driven primarily by strength in the United States,” said Dan Carestio, President and CEO of STERIS. “We have made several strategic decisions in fiscal 2024 that will position STERIS for future growth, including today’s targeted restructuring announcement and the announcement to divest the Dental segment. Heading into fiscal 2025, I am confident in our ability to deliver on our long-term commitments of mid-to-high single digit revenue growth and double-digit earnings growth.”

Total Company Fourth Quarter and Full Year Operating Results
U.S. GAAP net loss for the fourth quarter was $1.4 million or ($0.01) per diluted share, compared with net income of $187.2 million or $1.88 per diluted share in the fourth quarter of fiscal 2023. Adjusted net income (see Non-GAAP Financial Measures) for the fourth quarter of fiscal 2024 was $256.3 million or $2.58 per diluted share, compared with the previous year’s fourth quarter of $229.2 million or $2.30 per diluted share.

U.S. GAAP full year net income was $378.2 million, or $3.81 per diluted share, compared with $107.0 million, or $1.07 per diluted share in fiscal 2023. Adjusted net income for fiscal 2024 was $877.6 million, or $8.83 per diluted share, compared with adjusted net income of $822.2 million, or $8.20 per diluted share in fiscal 2023.