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.