Steris beats quarterly estimates on continued demand for medical procedures
06/11/2024 22:42
Nov 6 (Reuters) - Medical equipment maker Steris STE.N
beat second-quarter profit estimates on Wednesday, on continued
demand for non-urgent medical procedures that boosted sales of
its surgical and examination tools.
The company has seen strong sales for the last few quarters
due to sustained demand for healthcare services.
Steris continues to expect its fiscal 2025 revenue to
increase in the range of 6.5% to 7.5%.
The Dublin-based company reiterated its adjusted profit
forecast for fiscal 2025 of $9.05 per share to $9.25 per share.
Analysts expect a profit of $9.16 apiece for the year.
The company posted quarterly revenue of $1.3 billion, in
line with analysts' estimates, according to data compiled by
LSEG.
Revenue from the healthcare segment, under which Steris
sells sterilization products to hospitals and other healthcare
providers, grew 9% in the quarter to $944.2 million, ahead of
estimates of $941.35 million.
Excluding items, the company reported adjusted profit of
$2.14 per share, compared with analysts' estimates of $2.12 per
share.
(Reporting by Sruthi Narasimha Chari in Bengaluru; editing by
Alan Barona)
((mailto:SruthiNarasimha.Chari@thomsonreuters.com))