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STERIS plc - STE STOCK NEWS

Welcome to our dedicated page for STERIS plc news (Ticker: STE), a resource for investors and traders seeking the latest updates and insights on STERIS plc stock.

STERIS plc (NYSE: STE) is a leading global provider of infection prevention and procedural surgical products and services, primarily serving healthcare, pharmaceutical, research, and medical device customers. With a mission to create a healthier today and a safer tomorrow, the company delivers innovative infection prevention, decontamination, and health science technologies that support patient care and safety.

Founded in 1985 as Innovative Medical Technologies and rebranded as STERIS in 1987, the company’s history traces back to 1894 with the American Sterilizer Company, a pioneer in sterilization products. Today, STERIS is headquartered in Dublin, Ireland, and has positioned itself as a formidable force in the industry through strategic acquisitions and continuous innovation.

STERIS operates through several segments:

  • Healthcare Services: Constituting approximately 70% of total revenue, this segment includes sterilizers, washer-disinfectors, and other decontamination equipment for healthcare facilities and biopharmaceutical manufacturing sites.
  • Applied Sterilization Technologies (AST): Generating 19% of revenue, AST provides contract sterilization services for single-use and implantable medical devices globally.
  • Life Sciences Services: Accounting for about 11% of revenue, this segment offers services and products for research and pharmaceutical environments.

In recent developments, STERIS has signed a definitive agreement to acquire surgical and sterilization assets from Becton, Dickinson and Company (BD) for $540 million. This acquisition, expected to close by September 2023, will expand STERIS’s product offerings within its Healthcare segment, focusing on operating rooms and sterile processing departments.

Financially, STERIS has demonstrated robust growth. For the first quarter of fiscal 2024, revenue increased by 11% to $1.28 billion, driven by improvements in procedure volumes and easing of supply chain challenges. The company continues to show strength across its segments, particularly in Healthcare, which saw a 17% growth in revenue to $818.9 million.

Moreover, STERIS is undergoing a targeted restructuring plan in its Healthcare surgical business in Europe, aiming to enhance its operational efficiency. This includes product rationalizations and facility consolidations, signaling a commitment to long-term profitability and growth.

STERIS remains committed to its vision of creating a safer world through continuous innovation and strategic expansions, making it a key player in the global healthcare industry.

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STERIS plc (NYSE: STE) has announced it will host a conference call on August 7, 2024, at 9:00 a.m. ET to discuss its fiscal 2025 first quarter financial results. The call can be accessed via www.steris-ir.com or by phone. A press release detailing the financial results will be issued after the U.S. market closes on August 6, 2024. For those unable to attend the live call, a replay will be available from 12:00 p.m. ET on August 7, 2024, accessible through the company website or by phone using the access code 5644736. This announcement provides investors and analysts an opportunity to gain insights into STERIS's recent financial performance and future outlook.

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An affiliate of Peak Rock Capital has completed the acquisition of HuFriedyGroup, the dental segment of STERIS plc (NYSE: STE). HuFriedyGroup, founded in 1908, is a global leader in dental instruments, infection prevention products, and instrument management systems. The company serves customers in approximately 100 countries and employs around 1,500 people across more than 20 global facilities. Peak Rock Capital sees this acquisition as a significant investment opportunity, aiming to drive new product innovation and organic growth. The firm also plans to support complementary acquisitions to expand the product and brand portfolio.

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STERIS plc (NYSE: STE) announced financial results for its fiscal 2024 fourth quarter and full year, with total revenue up 12% to $5.5 billion. U.S. GAAP earnings per diluted share were $3.81, adjusted earnings per diluted share increased to $8.83. The company reported a targeted restructuring plan. Fourth quarter revenue increased 10% to $1.5 billion. Healthcare segment outperformed, with revenue growth primarily in the United States. Fiscal 2025 outlook includes mid-to-high single digit revenue growth and double-digit earnings growth.

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STERIS plc (NYSE: STE) declared a quarterly interim dividend of $0.52 per share, payable on June 26, 2024. The Company focuses on infection prevention in healthcare and offers healthcare, life sciences, and dental products globally.

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STERIS plc (NYSE: STE) will host a conference call on May 9, 2024, to discuss its fiscal 2024 fourth quarter and full year financial results. The call will be accessible online and via phone. A press release with financial details will be issued on May 8, 2024.
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Peak Rock Capital's affiliate acquires HuFriedyGroup from STERIS plc, a leading dental industry manufacturer, aiming for new product innovation and organic growth.
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STERIS plc (NYSE: STE) announced the divestiture of its Dental segment to Peak Rock Capital for $787.5 million, with potential additional earnings of up to $12.5 million. The transaction aims to streamline focus on core markets, with proceeds intended to repay debt. The Dental segment contributed $407 million in revenue and $86 million in operating income in the last twelve months. The deal is expected to close in STERIS's first quarter of fiscal 2025.
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STERIS plc (STE) reported a 15% increase in revenue for the third quarter of fiscal 2024, reaching $1.40 billion. The company also saw a net income of $140.7 million or $1.42 per diluted share, a significant increase from the previous year. The Healthcare segment grew 19% in revenue, while the Life Sciences segment saw a 21% increase. The company also updated its fiscal 2024 outlook, expecting a 10-11% increase in revenue and adjusted earnings per diluted share in the range of $8.60 to $8.70.
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STERIS plc (STE) has declared a quarterly interim dividend of $0.52 per share, payable on March 22, 2024, to shareholders of record on February 23, 2024.
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STERIS plc (STE) will host a conference call to discuss its fiscal 2024 third quarter financial results on February 8, 2024. The call can be accessed live at www.steris-ir.com or via phone. A press release detailing financial results will be issued after the U.S. market closes on February 7, 2024. A replay of the call will be available for those unable to listen live.
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FAQ

What does STERIS plc specialize in?

STERIS plc specializes in infection prevention and procedural surgical products and services for healthcare, pharmaceutical, research, and medical device industries.

Where is STERIS plc headquartered?

STERIS plc is headquartered in Dublin, Ireland.

What are the main business segments of STERIS plc?

The main business segments of STERIS plc are Healthcare Services, Applied Sterilization Technologies (AST), and Life Sciences Services.

How much of STERIS’s revenue comes from Healthcare Services?

Approximately 70% of STERIS’s revenue comes from Healthcare Services.

What recent acquisition has STERIS plc announced?

STERIS plc has announced the acquisition of surgical instrumentation, laparoscopic instrumentation, and sterilization container assets from Becton, Dickinson and Company for $540 million.

What was STERIS’s revenue growth in the first quarter of fiscal 2024?

In the first quarter of fiscal 2024, STERIS’s revenue increased by 11% to $1.28 billion.

What is the anticipated revenue growth for fiscal 2024?

STERIS anticipates a revenue increase of 9-10% for fiscal 2024.

What restructuring efforts is STERIS undertaking?

STERIS is restructuring its Healthcare surgical business in Europe, including product rationalizations and facility consolidations.

What percentage of STERIS’s revenue is derived from Applied Sterilization Technologies (AST)?

Applied Sterilization Technologies (AST) contributes approximately 19% of STERIS’s revenue.

When was STERIS plc originally founded?

STERIS plc was initially founded in 1985 as Innovative Medical Technologies and rebranded as STERIS in 1987.

STERIS plc

NYSE:STE

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STE Stock Data

22.89B
98.85M
0.29%
98.94%
3.11%
Surgical Appliance and Supplies Manufacturing
Manufacturing
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United States of America
DUBLIN