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STERIS plc provides healthcare and life sciences products and services that support patient care, with an emphasis on infection prevention. Its recurring news includes financial results and outlook updates for continuing operations, quarterly dividend actions, conference-call announcements, and board or executive governance changes.
The company’s business updates center on sterilization services, Applied Sterilization Technologies, sterilizers, washer-disinfectors, and decontamination equipment and supplies used by care providers and biopharma manufacturing sites. Corporate announcements also address capital spending, cash flow expectations, and shareholder distribution information.
STERIS plc (NYSE: STE) reported a 3% increase in revenue for Q2 fiscal 2021, totaling $756.1 million, with a 2% rise in constant currency organic revenue. Net income rose to $105.9 million, or $1.23 per diluted share, and adjusted net income reached $127.3 million, or $1.48 per diluted share. Significant growth was observed in the Applied Sterilization Technologies and Life Sciences segments, which posted increases of 11% and 17% respectively. The company announced a quarterly dividend of $0.40 per share, payable on December 18, 2020.
STERIS plc (NYSE: STE) will hold a conference call on November 3, 2020, at 10:00 a.m. ET to discuss its fiscal 2021 Q2 financial results. A press release detailing these results will be issued after market close on November 2, 2020. The call can be accessed via www.steris-ir.com or by phone at 1-833-535-2199 (U.S.) or 1-412-902-6776 (international). A replay will be available after the call. STERIS aims to provide innovative healthcare solutions globally, ensuring safety and health in various environments.
STERIS plc (NYSE: STE) has signed an agreement to acquire Key Surgical for $850 million, expected to close by December 31, 2020. This strategic purchase aims to enhance STERIS's consumable product portfolio, particularly in sterile processing, operating rooms, and endoscopy. Key Surgical is projected to generate approximately $170 million in annual revenue with an adjusted EBIT of about $50 million in 2020. The acquisition is anticipated to yield annualized pre-tax earnings synergies of $10-$15 million by year three and will be accretive to STERIS’s earnings in the fiscal 2021 fourth quarter.
STERIS reported a 4% decline in first-quarter revenue, totaling $668.9 million, attributed to reduced deferrable procedures, particularly in the Healthcare segment, which fell 10%. However, net income grew low-single digits to $88.2 million or $1.03 per share, supported by margin expansion. The Life Sciences segment saw a strong performance with a 21% revenue increase to $116.9 million. Notably, the Board increased the dividend for the 15th consecutive year, now at $0.40 per share.
STERIS plc (NYSE: STE) will host a conference call on August 4, 2020, at 10:00 a.m. ET, to discuss its fiscal 2021 first quarter financial results. The press release detailing these results will be published after market close on August 3, 2020. Interested parties can join the call via the internet or by phone. A replay will be accessible after the live event. STERIS aims to contribute to a healthier world through innovative healthcare and life science solutions.
STERIS plc (NYSE: STE) announced the U.S. FDA has granted an Emergency Use Authorization for their new respirator decontamination method using AMSCO Steam Sterilizers. This allows healthcare providers to decontaminate surgical N95 respirators, enabling up to 30 million respirators per day to be processed. This is STERIS's second EUA, following one for vaporized hydrogen peroxide. The company will install this upgrade free of charge for healthcare facilities that coordinate maintenance.
STERIS reported a strong fourth quarter for fiscal 2020, with revenue increasing 7% to $823 million, driven by growth across all segments. The company achieved a net income of $123.3 million, or $1.44 per diluted share, up from $108.7 million, or $1.27 per diluted share, in Q4 2019. Adjusted net income rose 7% to $140.5 million. Full-year revenue reached $3.2 billion, with net income of $407.6 million. However, due to COVID-19 uncertainties, STERIS is not providing guidance for fiscal 2021. The company declared a quarterly dividend of $0.37 per share.
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