Medical device maker Steris lifts 2024 results view, records quarterly beat
01/08/2023 22:37
Aug 1 (Reuters) - Medical equipment provider Steris
STE.N on Tuesday raised its profit forecast for fiscal 2024
after strength in its core healthcare business boosted
first-quarter results above Wall Street estimates.
The Dublin-based company raised its forecasts to reflect the
recent acquisition of Becton Dickinson and Co's BDX.N surgical
instrumentation platform.
Steris now sees per-share adjusted profit of $8.60 to $8.80,
from $8.55 to $8.75 earlier. Analysts expect $8.68, according to
Refinitiv data.
The company, which makes surgical instruments, expects its
2024 reported revenue to increase between 9% and 10%, from a
prior forecast of 7% to 8% growth.
In a boost to medical device makers, the healthcare industry
is seeing a recovery in some medical procedures including
orthopedics and gastrointestinal surgeries as pandemic-induced
staffing shortages ease.
Steris posted a 11% rise in quarterly revenue to $1.28
billion, ahead of estimates of $1.21 billion.
Excluding items, the company reported a profit of $2 per
share, compared with estimates of $1.87.
(Reporting by Sriparna Roy in Bengaluru; Editing by Devika
Syamnath)
((Sriparna.Roy@thomsonreuters.com;))