Steris Plc Stock Price, News & Analysis

STERIS plc (NYSE: STE) announced the retirement of David B. Lewis from its Board effective July 29, 2021, after serving since 2010. Paul E. Martin, former CIO at Baxter International, has been appointed as a new Board member as of May 5, 2021. The Board will return to nine members post-Annual Meeting. CEO Walt Rosebrough will also not stand for re-election, with COO Dan Carestio expected to be appointed as new CEO. These transitions aim to enhance Board effectiveness and bring in valuable insights from experienced leaders.

STERIS plc (NYSE: STE) announced a conference call scheduled for May 19, 2021, at 11:00 a.m. ET to discuss its fiscal 2021 fourth quarter and full-year financial results. A press release detailing these financial results will follow on May 18, 2021, after U.S. market close. The call can be accessed via www.steris-ir.com or by phone. This event highlights STERIS's commitment to transparency with investors regarding its financial performance and future outlook.

STERIS expects to finalize the acquisition of Cantel Medical by June 2, 2021, pending a shareholder vote on April 29, 2021. For fiscal 2021, the company reported a revenue increase of approximately 3%, totaling $3.1 billion, and an anticipated income from operations of about $548 million. Additionally, adjusted income is projected at $699 million, with free cash flow around $447 million. The effective tax rate is expected between 19-20%. Comprehensive results will be shared in an earnings call on May 19, 2021.

Cantel Medical Corp. (NYSE: CMD) reported its second quarter financial results for 2021, achieving net sales of $294.0M, up 1.9% year-over-year. Despite the pandemic's ongoing impact on elective procedures, GAAP earnings per diluted share rose to $0.27, compared to a loss of $(0.05) a year prior. Non-GAAP EPS increased by 29.5% to $0.79, driven by strong demand in dental and medical segments. The company has reduced its debt by $175.0M and ended the quarter with $243.1M in cash and gross debt of $988.4M, indicating solid financial health amidst challenges.

STERIS plc (NYSE: STE) announced the planned resignation of CEO Walt Rosebrough, effective July 29, 2021. Chief Operating Officer Dan Carestio will succeed him. Rosebrough will transition to a role as CEO Emeritus and Senior Advisor for two years. Under Rosebrough's leadership, STERIS achieved significant milestones, including tripling revenue and completing nearly 50 acquisitions, resulting in a market capitalization increase of over $14 billion. The Board expressed confidence in Carestio's leadership skills and successful integration of various business segments.

STERIS plc (NYSE: STE) announced a conference call to discuss its fiscal 2021 third quarter financial results on February 3, 2021, at 10:00 a.m. ET. Interested parties can join via phone or listen live online. A detailed press release will follow after market close on February 2, 2021. This call aims to provide insights into STERIS's financial performance and outlook. The company emphasizes its mission to create a healthier world through innovative healthcare solutions.

STERIS has announced its acquisition of Cantel Medical Corp for approximately $3.6 billion, valuing Cantel shares at $84.66. The deal includes expected synergies of $110 million by the fourth year and is aimed at enhancing STERIS's offerings in infection prevention, particularly in endoscopy and dental markets. The transaction is anticipated to close by the end of STERIS's first fiscal quarter of 2022, pending regulatory approvals. This acquisition positions STERIS strongly in a market focused on infection control, leveraging Cantel's existing infrastructure and customer base.

STERIS plc (NYSE: STE) will webcast presentations by CEO Walt Rosebrough at two upcoming investor conferences. The first is at 3:30 p.m. ET on January 11, 2021, during the Needham & Company Healthcare Conference, followed by the J.P. Morgan Healthcare Conference at 7:30 a.m. ET on January 13, 2021. The presentations will be accessible at steris-ir.com for thirty days. Furthermore, the company plans to announce its third-quarter fiscal 2021 results on February 2, followed by an investor call on February 3.

STERIS plc has completed its acquisition of Key Surgical, enhancing its product offerings and global reach. The acquisition is expected to generate approximately $55 million in revenue and $0.13 in adjusted earnings per diluted share for fiscal 2021, surpassing initial estimates by 35%. STERIS aims to leverage Key Surgical's capabilities to improve customer service and create shareholder value. Goldman Sachs served as the financial advisor for STERIS, while Piper Sandler advised Key Surgical.