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Steris beats The Street on sales and profits

November 2, 2020 By Nancy Crotti

Steris (NYSE:STE) posted second-quarter 2021 results after market close today that beat the consensus forecast on Wall Street, but did not provide full-year guidance.

The Mentor, Ohio-based infection-prevention company reported profits of $105.9 million, or $1.23 per share, on sales of $756.13 million for the three months ended Sept. 30, 2020, for a bottom-line gain of 11.7% on sales growth of 2.6% compared with Q2 2020.

Adjusted to exclude one-time items, earnings per share were $1.48, 21¢ ahead of The Street, where analysts were looking for sales of $722.87 million.

“Our second-quarter results demonstrate the resilience of our business and the good work by Steris associates,” said company president & CEO Walt Rosebrough in a news release. “Our revenue growth reflects the improvement in procedure volumes during the quarter as well as continued strength in segments with exposure to COVID-19-related products and services. Although our first-half performance has exceeded our expectations, due to the continued uncertainty surrounding COVID-19, we are not providing guidance at this time.”

Shares in STE remained unchanged at $181.57 after market close. An investor call was planned for 10 a.m. Eastern time on Nov. 3.

 

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  • Home
  • Medical Device Business
    • Mergers & Acquisitions
    • Financial
    • Regulatory
  • Applications
    • Cardiovascular
    • Devices
    • Imaging
    • Implantables
    • Medical Equipment
    • Orthopedic
    • Surgical
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    • Supplies and Components Index
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    • Components
    • Electronics
    • Extrusions
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    • Motion Control
    • Prototyping
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    • Tubing
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