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.

Sotera Health Company (Nasdaq: SHC) announced the successful closure of a $500 million senior secured Term Loan B facility, aimed at funding a $408 million ethylene oxide litigation settlement and enhancing liquidity. This loan, which exceeded the initially planned $425 million, will help pay down existing borrowings and address general corporate needs. The interest rates vary, and there is a mandatory annual paydown of $5 million. The company’s CEO highlighted strong market reception, emphasizing the solid profile of Sotera Health's business.

Sotera Health Company (Nasdaq: SHC) has announced the release date for its financial results for the fourth quarter and full year ending December 31, 2022. The results will be published on February 28, 2023, before the market opens. A conference call discussing the financial results will take place at 9:00 a.m. ET on the same day. Investors can participate by dialing the provided numbers or accessing the webcast via Sotera's Investor Relations website. Sotera Health, known for its sterilization solutions and lab services, operates through Sterigenics, Nordion, and Nelson Labs, focusing on its mission of safeguarding global health.

Sotera Health Company (NASDAQ: SHC) announced plans to secure a $425 million Term Loan B facility, expected to close in Q1 2023. The funds will be utilized for a $408 million ethylene oxide litigation settlement, pay down revolving credit, and improve liquidity. Preliminary 2022 financial results indicate full-year net revenues between $995 million and $1.005 billion, alongside a net loss estimated at $226 million to $236 million, largely due to the legal reserve. Adjusted EBITDA is anticipated to lie within the range of $500 million to $510 million. Final results will be disclosed on February 28, 2023, with potential revisions forthcoming.