Sotera Health Co Stock Price, News & Analysis

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.

Sotera Health Company (Nasdaq: SHC) announced a $408 million settlement for over 870 ethylene oxide cases against its subsidiary Sterigenics in Illinois. The agreement, expected to finalize in 90-120 days, does not admit liability and aims to resolve claims while allowing the company to focus on operations. Conditions for the settlement include opt-in consents from plaintiffs and a stay on lawsuits. Sterigenics will fund the settlement through debt financing in the first half of 2023, recording a charge for the settlement in FY 2022.

Sotera Health Company (Nasdaq: SHC) announced robust top-line growth for 2022, with projected revenues between $995 million and $1.005 billion. Despite macroeconomic challenges, the company remains focused on its core values. To enhance liquidity due to litigation needs, Sotera borrowed $200 million under its secured revolving credit facility. The company is also contemplating further debt financing in Q1 2023 to support its appeal in ongoing litigation, which may increase leverage beyond its target range of 2.0x – 4.0x.

Sotera Health Company (NASDAQ: SHC) announced that its Chairman and CEO, Michael B. Petras, Jr., will present at the 41st Annual J.P. Morgan Healthcare Conference on January 9, 2023, at 7:30 PM Eastern. The presentation will provide insights into Sotera Health’s business operations. Additionally, Mr. Petras and Vice President Jason Peterson will conduct one-on-one meetings with investors during the event. Investors can listen to the presentation via live webcast on the Sotera Health website, where a replay will also be available.

Sotera Health Company (SHC) announced Q3 2022 financial results, showcasing a 10% increase in net revenues to $249 million, with adjusted EBITDA rising 7.3% to $125 million. Net income slightly decreased to $25 million from $27 million in Q3 2021. The company adjusted its full-year revenue guidance to $995-$1,005 million and EBITDA to $500-$510 million, reflecting macroeconomic pressures, including foreign exchange impacts. Sotera emphasized ongoing capacity expansion and operational excellence while announcing the appointment of Alex Dimitrief as General Counsel, effective November 1.

Sotera Health Company (Nasdaq: SHC) has appointed Alex Dimitrief as its new Senior Vice President and General Counsel. Dimitrief brings over 40 years of experience from General Electric and Kirkland & Ellis LLP, where he specialized in litigation, M&A, and regulatory affairs. He succeeds Terry Hammons and will report directly to CEO Michael B. Petras, Jr.. Dimitrief's extensive leadership in complex legal matters is expected to enhance Sotera's mission-critical operations in sterilization solutions and advisory services.

Sotera Health Company (Nasdaq: SHC) announced its plan to release third-quarter financial results for the period ending September 30, 2022, before market open on November 2, 2022. Following this release, a conference call will take place at 9:00 a.m. Eastern Time to discuss the company’s operating highlights and financial outcomes. Investors can access the call via webcast on the company's website. Sotera Health provides vital sterilization solutions and lab testing services to the healthcare industry.

Sotera Health Company (SHC) reported Q2 2022 net revenues of $267 million, a 6% increase from Q2 2021. Net income was $30 million or $0.11 per diluted share, down from $43 million or $0.15 per share in the prior year. Adjusted EBITDA rose 1% to $136 million. The company narrowed its 2022 revenue outlook to $1.0 to $1.022 billion and adjusted EBITDA to $515 to $525 million. Segment performance showed mixed results, with Sterigenics up 8.7% while Nelson Labs faced declines.