Welcome to our dedicated page for Sotera Health news (Ticker: SHC), a resource for investors and traders seeking the latest updates and insights on Sotera Health stock.
Sotera Health Company provides sterilization solutions, lab testing and advisory services for the healthcare industry through Sterigenics, Nordion and Nelson Labs. News about SHC commonly covers quarterly and annual operating results, constant-currency revenue trends, Adjusted EBITDA commentary and outlook updates across those businesses.
Recurring company developments also include segment performance in outsourced terminal sterilization, irradiation services and laboratory testing, as well as governance changes, board committee assignments and capital-structure activity involving its Nasdaq-listed common stock. Sterigenics uses gamma irradiation, EO processing and E-beam irradiation for medical device, pharmaceutical, food safety and other application markets.
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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.
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.