STERIS Announces Financial Results for Fiscal 2025 First Quarter

• Total revenue from continuing operations increased 8%; constant currency organic revenue grew 6%
• As reported EPS from continuing operations increased to $1.41; adjusted EPS increased to $2.03
• Fiscal 2025 outlook reiterated
  
  

DUBLIN, IRELAND , Aug. 06, 2024 (GLOBE NEWSWIRE) -- STERIS plc (NYSE: STE) (“STERIS” or the “Company”) today announced financial results for its fiscal 2025 first quarter ended June 30, 2024. Total revenue from continuing operations for the first quarter of fiscal 2025 increased 8% to $1.3 billion compared with $1.2 billion in the first quarter of fiscal 2024. Constant currency organic revenue from continuing operations for the first quarter increased 6%.

“We are pleased with the start to our new fiscal year and continue to experience positive momentum across each of our segments,” said Dan Carestio, President and CEO of STERIS. “With one quarter behind us, we are reiterating our outlook for fiscal 2025 and are confident in our ability to deliver on our full year guidance.”

First Quarter Results from Continuing Operations
As reported, net income for the first quarter was $139.9 million or $1.41 per share, compared with net income of $130.6 million or $1.31 per diluted share in the first quarter of fiscal 2024. Adjusted net income for the first quarter of fiscal 2025 was $201.7 million or $2.03 per diluted share, compared with the previous year’s first quarter of $182.5 million or $1.84 per diluted share.  

Healthcare revenue as reported grew 10% in the quarter to $901.2 million compared with $818.9 million in the first quarter of fiscal 2024. This performance reflected 23% improvement in consumable revenue and 14% growth in service revenue, partially offset by a 10% decline in capital equipment revenue. Constant currency organic revenue increased 5% for the quarter compared with the prior year. Healthcare operating income was $216.9 million compared with $198.2 million in last year’s first quarter. This improvement was primarily attributable to an increase in volume along with favorable pricing and the addition of the surgical instrumentation assets purchased from BD.