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Steris up on Street-beating Q3 results

February 9, 2022 By Chris Newmarker

SterisSteris (NYSE:STE) reported fiscal third-quarter results that beat the consensus forecast on Wall Street, upping its fiscal 2022 forecast.

The infection prevention technology company — headquartered in Dublin, Ireland, and run operationally out of Mentor, Ohio — earned $143.6 million, or $1.42 per share, off $1.2 billion in revenue for the quarter ended Dec. 31, 2021. The results, posted yesterday evening, represented 25% bottom-line growth and 49% top-line growth compared with the previous Q3.

Adjusted to exclude one-time items, earnings per share were $2.12, 16¢ ahead of The Street, where analysts were looking EPS of $1.96 on sales of $1.19 billion.

“While supply chain and inflation continue to be a challenge, our teams have worked to manage through with minimal impact on our ability to serve our customers,” Steris CEO Dan Carestio said in a news release.

Steris said it expects to log adjusted EPS of $7.85–7.95 this fiscal year, up from prior guidance of $7.60–7.85. It now projects constant currency organic revenue growth of roughly 11%, compared with prior expectations of 10–11%.

“We continue to anticipate another record year for Steris and are updating our outlook for the full fiscal year 2022 based on better than anticipated performance,” Carestio said.

Investors reacted by sending STE shares up nearly 3% to $237.37 apiece near today’s trading close. MassDevice’s and MDO’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up nearly 2%.

About The Author

Chris Newmarker

Chris Newmarker is the executive editor of WTWH Media life science's news websites and publications including MassDevice, Medical Design & Outsourcing and more. A professional journalist of 18 years, he is a veteran of UBM (now Informa) and The Associated Press whose career has taken him from Ohio to Virginia, New Jersey and, most recently, Minnesota. He’s covered a wide variety of subjects, but his focus over the past decade has been business and technology. He holds bachelor’s degrees in journalism and political science from Ohio State University. Connect with him on LinkedIn or email at cnewmarker@wtwhmedia.com.

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