STERIS sinks on annual forecast cut
09/02/2023 18:16
** Shares of infection prevention and other procedural
products and services provider STERIS plc STE.N down 9.36% at
$195.65
** STE trims FY23 adj profit forecast to $8.00 to $8.10 per
share from prior forecast of $8.40 to $8.60 a share
** Expects annual revenue to grow 6% vs prior guidance of 8%
growth urn:newsml:reuters.com:*:nGNX3SsWJM
** Stock also among top three S&P 500 .PL.INX pct losers
** Anticipate continued supply chain improvements, which
will aid in reducing our backlog and allow us to achieve more
normal lead times for our customers over coming quarters - STE
** Also posts Q3 revenue and adj profit below analysts'
estimates - Refinitiv
** Stock was down 24.1% in 2022
(Reporting by Vedant Vinayak Vichare)
((Vedant.VinayakVichare@thomsonreuters.com))