Sotera Health Co Stock Price, News & Analysis

CLEVELAND, April 18, 2023 (GLOBE NEWSWIRE) -- Sotera Health Company (Nasdaq: SHC) plans to release its financial results for the first quarter ended March 31, 2023, before market opens on May 3, 2023. Following the release, management will host a conference call at 9:00 a.m. Eastern Time to discuss operational highlights.

Participants can join the call by dialing 1-866-777-2509 from the U.S. or 1-412-317-5413 from other locations. A live webcast and materials will be available via the Company's Investor Relations section. A replay will be available later on May 3.

Sotera Health Company (Nasdaq: SHC) announced an amendment to its First Lien Credit Agreement, increasing its revolving loan commitments by $76.3 million. This boosts the total commitments under the Revolving Credit Facility from $347.5 million to $423.8 million and enhances lender commitments for letters of credit from about $196 million to $361 million. The amendment replaces the LIBOR interest rate option with Term SOFR or Daily SOFR rates. No balance is currently outstanding under this facility, and the company does not anticipate needing to borrow in the near term, maintaining a maturity date of June 13, 2026.

Sotera Health Company (SHC) reported a 4.3% increase in Q4 2022 net revenues to $252 million, despite a net loss of $320 million, significantly influenced by a $408 million legal reserve. Adjusted EBITDA rose 4% to $130 million, with Adjusted EPS improving to $0.25. For FY 2022, net revenues grew 7.8% to $1,004 million, while net loss was $234 million. The outlook for FY 2023 includes net revenue growth of 5% to 9%, with Adjusted EPS expected to decline by 10% to 19% due to rising interest expenses. The company closed a $500 million Term Loan B to address the EO settlement and enhance liquidity.