Haemonetics (NYSE: HAE) Q1 2027 revenue hits $339M as guidance raised
Rhea-AI Filing Summary
Haemonetics reported first quarter fiscal 2027 revenue of $339.4 million, up 5.6% year over year with 5.9% organic growth. Apheresis revenue was $191.3 million and MedSurg revenue $148.1 million, both growing mid‑single digits, led by Plasma and Blood Management Technologies, while Interventional Technologies also returned to growth.
GAAP gross margin held at 59.8%. Operating income was $57.5 million with a 16.9% margin. Net income was $33.0 million and earnings per diluted share $0.72, slightly above $0.70 a year earlier despite a higher tax rate of 30.6%. Adjusted EPS was $1.14 on a 23.4% adjusted operating margin.
Cash flow from operating activities rose to $52.3 million and free cash flow to $39.1 million, supporting a cash balance of $223.4 million. Management raised fiscal 2027 guidance to 5–8% reported revenue growth and 4–7% organic growth, with 50–100 basis points of adjusted operating margin expansion and free cash flow conversion of about 80%.
Positive
- None.
Negative
- None.
Filing Explained
At June 27, 2026, cash was $223.4 million, down $22.1 million from fiscal year-end.
The August 6 Form 8-K furnishes the company’s first-quarter fiscal 2027 results under Item 2.02; the results and press release are not treated as “filed” for Section 18 purposes. A Form 8-K reports specified material events, while the disclosed cash position shows the balance-sheet effect: cash was
The cash decrease was primarily attributed to repayment of revolving-credit-facility borrowings and strategic investments. The cash-flow statement reports net repayments in financing activities and other investments, while long-term debt stood lower at June 27 than at March 28.
The release presents adjusted earnings, margins, and free cash flow as supplemental non-GAAP measures rather than substitutes for U.S. GAAP results. Its current fiscal 2027 guidance is forward-looking and remains subject to the risks and uncertainties described in the release.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Revenue: $339.4 million
Organic Revenue Growth: 5.9%
GAAP EPS: $0.72
+5 more
8 metrics
Revenue
$339.4 million
First quarter fiscal 2027 revenue, up 5.6% versus first quarter fiscal 2026
Organic Revenue Growth
5.9%
First quarter fiscal 2027 organic revenue growth versus prior-year quarter
GAAP EPS
$0.72
Earnings per diluted share for first quarter fiscal 2027
Adjusted EPS
$1.14
Adjusted earnings per diluted share for first quarter fiscal 2027
Operating Margin
16.9%
GAAP operating margin in first quarter fiscal 2027
Free Cash Flow
$39.1 million
Free cash flow in first quarter fiscal 2027
Cash and Cash Equivalents
$223.4 million
Cash on hand as of June 27, 2026
FY 2027 Revenue Growth Guidance
5–8%
Fiscal 2027 reported revenue growth guidance after Q1 2027
Key Terms
organic revenue growth, free cash flow, adjusted operating margin, forward-looking statements, +1 more
5 terms
organic revenue growth financial
"First quarter organic revenue growth was 5.9% compared with the same period"
Organic revenue growth is the increase in a company's sales that comes from its existing products and services, without including any gains from acquisitions or selling off parts of the business. It reflects the company’s ability to attract more customers or encourage existing customers to buy more over time. For investors, it indicates the company's underlying strength and efficiency in expanding its core operations.
free cash flow financial
"Free cash flow was $39.1 million, up $36.6 million, each when compared"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
adjusted operating margin financial
"Adjusted operating margin was 23.4%, down 70 basis points when compared"
Adjusted operating margin shows how much profit a company makes from its core business activities, after removing unusual or one-time costs and income. It helps investors see the company's true profitability by providing a clearer picture, similar to removing unexpected expenses to understand the regular performance. This metric is useful for comparing companies or tracking performance over time, as it highlights consistent earning power.
forward-looking statements regulatory
"Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
non-GAAP financial measures financial
"This press release contains financial measures that are considered “non-GAAP” financial measures"
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
Earnings Snapshot
Revenue: $339.4 million · Guidance included
First quarter of fiscal 2027 (three months ended June 27, 2026)
Revenue
$339.4 million
Up 5.6% vs first quarter fiscal 2026
Organic revenue growth
5.9%
5.9% organic growth vs prior-year quarter
GAAP EPS
$0.72
From $0.70 in first quarter fiscal 2026
Adjusted EPS
$1.14
From $1.10 in first quarter fiscal 2026
Free cash flow
$39.1 million
Up $36.6 million vs first quarter fiscal 2026
Guidance
For fiscal 2027, the company now expects 5–8% reported revenue growth, including an approximately 2% headwind from a 53rd week, and 4–7% organic revenue growth. Management anticipates 50–100 basis points of adjusted operating margin expansion year over year, adjusted EPS growth comparable to reported revenue growth, and approximately 80% free cash flow conversion.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
How did Haemonetics (HAE) perform in Q1 fiscal 2027?
Haemonetics delivered Q1 2027 revenue of $339.4 million, up 5.6% year over year, with 5.9% organic growth. GAAP earnings per diluted share were $0.72 and adjusted earnings per diluted share were $1.14, reflecting stable margins and modest profit growth.
What were Haemonetics (HAE) key business unit results in Q1 2027?
In Q1 2027, Apheresis revenue was $191.3 million with 6.0% organic growth, while MedSurg revenue reached $148.1 million with 5.9% organic growth. Plasma and Blood Management Technologies posted high single‑digit organic growth and Interventional Technologies also grew organically.
How did Haemonetics (HAE) margins and earnings trend in Q1 2027?
GAAP gross margin was 59.8%, flat year over year, and operating margin was 16.9%. Net income was $33.0 million, with GAAP EPS of $0.72. A higher tax rate of 30.6% weighed on net income, while adjusted EPS reached $1.14.
What was Haemonetics (HAE) cash flow and liquidity position in Q1 2027?
Q1 2027 cash flow from operating activities was $52.3 million and free cash flow was $39.1 million, both significantly higher year over year. Cash and cash equivalents totaled $223.4 million as of June 27, 2026, alongside long‑term debt of $1,169.2 million.
What fiscal 2027 guidance did Haemonetics (HAE) provide after Q1 2027?
Haemonetics now expects 5–8% reported revenue growth for fiscal 2027, including an approximately 2% headwind from a 53rd week, and 4–7% organic revenue growth. Management also targets 50–100 basis points of adjusted operating margin expansion and about 80% free cash flow conversion.
When is Haemonetics (HAE) Q1 2027 earnings call and how can investors listen?
The Q1 fiscal 2027 earnings call is scheduled for August 6, 2026 at 8:00 a.m. ET. Investors can access it via a teleconference registration link that provides dial‑in details or through a live webcast on Haemonetics’ investor relations website.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 6, 2026
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code 781 -848-7100
(Former name or former address, if changed since last report.)
| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): | |||||
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
| Securities registered pursuant to Section 12(b) of the Act: | ||||||||
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
| Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). | |||||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ | |||||
Item 2.02 Results of Operations and Financial Condition.
On August 6, 2026, Haemonetics Corporation issued a press release announcing financial results for the first quarter ended June 27, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The foregoing information in this Item 2.02, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit Number | Description | |||||||
99.1 | Press Release of Haemonetics Corporation dated August 6, 2026 announcing financial results for the first quarter ended June 27, 2026. | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| HAEMONETICS CORPORATION | ||||||||||||||
Date: August 6, 2026 | By: | /s/ Christopher A. Simon | ||||||||||||
| Name: | Christopher A. Simon | |||||||||||||
| Title: | President and Chief Executive Officer | |||||||||||||
| Exhibit 99.1 | |||||
| Investor Contacts | Media Contact | ||||
| Olga Guyette, Vice President-Investor Relations & Treasury | Josh Gitelson, Sr. Director-Global Communications | ||||
| (781) 356-9763 | (781) 356-9776 | ||||
| olga.guyette@haemonetics.com | josh.gitelson@haemonetics.com | ||||
| David Trenk, Sr. Manager-Investor Relations | |||||
| (203) 733-4987 | |||||
| david.trenk@haemonetics.com | |||||
Haemonetics Reports First Quarter Fiscal 2027 Results;
Raises Total Company Fiscal 2027 Guidance
Boston, MA, August 6, 2026 - Haemonetics Corporation (NYSE: HAE) reported financial results for its first quarter of fiscal 2027, which ended June 27, 2026:
1st Quarter 2027 | ||||||||
| n | Revenue, increase | $339 million, 5.6% | ||||||
| n | Organic(1) revenue increase | 5.9% | ||||||
| n | Earnings per diluted share | $0.72 | ||||||
| n | Adjusted earnings per diluted share | $1.14 | ||||||
| n | Cash flow from operating activities | $52 million | ||||||
| n | Free cash flow | $39 million | ||||||
__________
(1) Excludes the impacts of currency fluctuation and the exit of certain liquid solution products.
Chris Simon, Haemonetics’ CEO, stated: “We had a strong start to fiscal 2027, gaining Plasma share, sustaining Blood Management Technologies momentum, and returning Interventional Technologies to growth. With our evolved portfolio, transformed operating model and disciplined execution, we are strengthening our competitive position and demonstrating the durable growth of our diversified businesses. We raised full-year guidance, and Haemonetics is well-positioned to deliver sustainable long-term growth and shareholder value.”
1
GAAP RESULTS
First quarter fiscal 2027 revenue was $339.4 million, up 5.6% compared with the first quarter of fiscal 2026. Business unit revenue and growth rates compared with the prior year period were as follows:
| First Quarter Fiscal 2027 Reported | |||||||||||
| (Dollars in Millions) | |||||||||||
| Apheresis | $191.3 | 5.3% | |||||||||
| MedSurg | $148.1 | 6.0% | |||||||||
| Total net revenue | $339.4 | 5.6% | |||||||||
Gross margin was 59.8% in the first quarter of fiscal 2027, which was relatively flat when compared with 59.8% in the first quarter of fiscal 2026. Operating expenses were $145.3 million, up $7.0 million, or 5.0%, compared with the first quarter of fiscal 2026. The increase in operating expenses was driven by higher personnel-related costs and freight charges. The Company had operating income of $57.5 million and a 16.9% operating margin in the first quarter of fiscal 2027, compared with operating income of $53.9 million and a 16.8% operating margin in the first quarter of fiscal 2026. The effective income tax rate was 30.6% in the first quarter of fiscal 2027, compared with 24.7% in the first quarter of fiscal 2026. The increase in the effective income tax rate was primarily driven by stock compensation shortfalls and valuation allowance impacts related to losses in certain recently acquired jurisdictions. First quarter fiscal 2027 net income and earnings per diluted share were $33.0 million and $0.72, respectively, compared with $34.0 million and $0.70, respectively, in the first quarter of fiscal 2026.
ADJUSTED RESULTS
First quarter organic revenue growth was 5.9% compared with the same period of fiscal 2026. Year-over-year organic revenue growth rates by business unit were as follows:
| First Quarter Fiscal 2027 | |||||
| Organic | |||||
| Apheresis | 6.0% | ||||
| MedSurg | 5.9% | ||||
| Total net revenue | 5.9% | ||||
First quarter fiscal 2027 adjusted gross margin was 60.4%, down 40 basis points compared with the prior year period. The primary drivers of the decrease in the adjusted gross margin percentage included upfront revenue recognition upon the execution of a long-term software agreement in the prior year, partially offset by the continued transformation of the product portfolio to higher-margin offerings and benefits from product innovation.
Adjusted operating expenses were $125.6 million, up $7.9 million, or 6.7%, compared with the first quarter of fiscal 2026. The increase in adjusted operating expenses was driven by higher personnel-related costs and freight charges. Adjusted operating income for the first quarter of fiscal 2027 was $79.3 million, down $1.7 million, or 2.2%, compared with the first quarter of fiscal 2026. Adjusted operating margin was 23.4%, down 70 basis points when compared with the same period of fiscal 2026. The adjusted income tax rate for the first quarter of fiscal 2027 was 25.7%, up 180 basis points when compared with 24.9% in the first quarter of fiscal 2026. The increase in the effective income tax rate was primarily driven by stock compensation shortfalls.
First quarter fiscal 2027 adjusted net income was $52.3 million, up $0.9 million, or 1.8%, and adjusted earnings per diluted share was $1.14, up 3.6%, each when compared with the same period of fiscal 2026.
2
BALANCE SHEET AND CASH FLOW
Cash on hand as of June 27, 2026 was $223.4 million, a decrease of $22.1 million since the end of fiscal 2026, primarily driven by cash outflows for the repayment of revolving credit facility borrowings and strategic investments, partially offset by cash flow provided from operating activities.
First quarter fiscal 2027 cash flow from operating activities was $52.3 million, up $34.9 million, and free cash flow was $39.1 million, up $36.6 million, each when compared with the same period of fiscal 2026. The primary driver of increased operating cash flow as compared to the same period of fiscal 2026 was favorable working capital adjustments driven by the timing of collections on receivables. Free cash flow benefitted from lower non-cash transfers from Haemonetics equipment, partially offset by higher capital expenditures.
FISCAL 2027 GUIDANCE
The Company raised its previous fiscal 2027 GAAP revenue and organic revenue growth guidance as follows:
| Total Company | |||||||||||
| Previous Guidance | Current Guidance | ||||||||||
| Reported Revenue | 4 - 7% | 5 - 8% | |||||||||
| 53rd week impact | (~2%) | (~2%) | |||||||||
| Currency impact | 0 - 1% | 0 - 1% | |||||||||
Organic Revenue(1) | 3 - 6% | 4 - 7% | |||||||||
| Adjusted operating margin | 50 – 100 bps expansion YoY | 50 – 100 bps expansion YoY | |||||||||
| Adjusted earnings per diluted share | Comparable to reported revenue growth | Comparable to reported revenue growth | |||||||||
Free cash flow conversion(2) | ~80% | ~80% | |||||||||
__________
(1) Previous guidance includes approximately low-single-digit growth in Apheresis and mid-single digit growth in MedSurg. Current guidance includes low- to mid-single-digit growth in Apheresis and mid-single digit growth in MedSurg. Organic growth guidance also includes nominal historical pre-acquisition revenue of Vivasure to provide a comparable view of period-over-period performance.
(2) Free cash flow conversion is calculated as free cash flow divided by adjusted net income.
WEBCAST CONFERENCE CALL AND RESULTS ANALYSIS
The Company will host a conference call with investors and analysts to discuss first quarter fiscal 2027 results on Thursday, August 6, 2026 at 8:00 a.m. ET. The call can be accessed via teleconference at https://register-conf.media-server.com/register/BI10b970fcb46348a6ab6968b8585a2627. Once registration is completed, participants will receive a dial-in number along with a personalized PIN to access the call. While not required, it is recommended that participants join 10 minutes prior to the event start.
Alternatively, a live webcast of the call can be accessed on Haemonetics’ investor relations website at the following direct link: https://edge.media-server.com/mmc/p/r8e9tnfy.
The Company has also provided a supplemental earnings presentation for its first quarter of fiscal 2027, which is available on its website and can be found at the following direct link: https://haemonetics.gcs-web.com/static-files/18fd2149-925e-4f38-95ff-fa1bd50338b7.
3
ABOUT HAEMONETICS
Haemonetics is a global medical technology company dedicated to improving the quality, effectiveness and efficiency of health care. Our Apheresis business features proprietary technologies designed to enhance safety, yield, donor satisfaction and operational efficiency for plasma and blood collectors around the world. Our MedSurg business offers Blood Management Technologies to help inform treatment decisions and optimize the management of blood products, and Interventional Technologies, including advanced vascular closure systems and sensor-guided technologies, designed to drive procedural effectiveness and elevate the patient experience. To learn more about Haemonetics, visit www.haemonetics.com.
FORWARD-LOOKING STATEMENTS
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements in this press release may include, without limitation, statements regarding (i) plans and objectives of management for operations of the Company, including plans or objectives related to the Company’s strategy for growth; product development, commercialization and anticipated benefits; regulatory approvals; the impact of acquisitions and divestitures; market position and expenditures; and the Company’s market and regional alignment initiative; (ii) estimates or projections of future financial results, financial condition, capital expenditures, capital structure or other financial items, including with respect to the Company’s share repurchase program; and (iii) the assumptions underlying or relating to any statement described in points (i) and (ii) above.
Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company’s current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, availability and demand for the Company’s products; the Company’s ability to successfully develop and market new products and technologies; the impact of competitive products and pricing; product quality; disruptions caused by cybersecurity events; any failure to realize the anticipated strategic benefits and opportunities from acquisitions and divestitures; pricing pressures resulting from trends toward healthcare cost containment and the effect of industry consolidation; manufacturing, distribution and supply chain disruptions and cost increases; the Company’s ability to implement as planned and realize estimated cost savings from the market and regional alignment initiative; the effects of global economic and political conditions, including changing trade and tariff policies and inflationary pressures; regulatory uncertainties, including in the receipt or timing of regulatory approvals, and the impact of changes in global regulatory conditions; indebtedness incurred by the Company, including the conditional conversion feature of its convertible notes; the Company’s ability to protect its intellectual property; litigation; and the impact of share repurchases on the Company’s stock price and volatility as well as the effect of short-term price fluctuations on the share repurchase program’s effectiveness. These and other factors are identified and described in more detail in the Company’s periodic reports and other filings with the U.S. Securities and Exchange Commission (the “SEC”). The Company does not undertake to update these forward-looking statements.
4
MANAGEMENT’S USE OF NON-GAAP MEASURES
This press release contains financial measures that are considered “non-GAAP” financial measures under applicable SEC rules and regulations. Management uses non-GAAP measures to monitor the financial performance of the business, make informed business decisions, establish budgets and forecast future results. Performance targets for management are also based on certain non-GAAP financial measures. These non-GAAP financial measures should be considered supplemental to, and not a substitute for, the Company’s reported financial results prepared in accordance with U.S. GAAP. In this release, supplemental non-GAAP measures have been provided to assist investors in evaluating the performance of the Company’s core operations and provide a baseline for analyzing trends in the Company’s underlying businesses. We strongly encourage investors to review the Company’s financial statements and publicly-filed reports in their entirety and not rely on any single financial measure.
When used in this release, organic revenue growth excludes the impact of currency fluctuation and the exit of certain liquid solution products. Adjusted gross profit, adjusted operating expenses, adjusted operating income, adjusted interest and other income/expense, adjusted provision for income taxes, adjusted net income and adjusted earnings per diluted share exclude restructuring costs, restructuring related costs, digital transformation costs, amortization of acquired intangible assets, amortization of fair value inventory step-up, acquisition, integration and divestiture related costs, certain tax settlements, unusual or infrequent and material litigation-related charges, equity method losses, and remeasurement of contingent consideration. Adjusted net income and adjusted earnings per diluted share also exclude the tax impact of these items. The adjustments to provision for income taxes are calculated based on the jurisdictions in which pre-tax adjustments occurred. Free cash flow is defined as cash provided by operating activities less capital expenditures and additions to Haemonetics equipment, net of the proceeds from the sale of property, plant and equipment. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures to similarly titled measures used by other companies.
A reconciliation of non-GAAP historical financial measures to their most comparable GAAP measure are included at the end of the financial sections of this press release as well as on the Company’s website at www.haemonetics.com. The Company does not attempt to provide reconciliations of forward-looking adjusted operating margin guidance, adjusted earnings per diluted share guidance or free cash flow conversion guidance to the comparable GAAP measures because the combined impact and timing of recognition of certain potential charges or gains, such as restructuring costs, impairment charges and capital expenditures, is inherently uncertain and difficult to predict and is unavailable without unreasonable efforts. In addition, the Company believes such reconciliations would imply a degree of precision and certainty that could be confusing to investors. Such items could have a substantial impact on GAAP measures of the Company’s financial performance.
5
| Haemonetics Corporation Financial Summary | |||||||||||||||||
| Condensed Consolidated Statements of Income (Unaudited) | |||||||||||||||||
| Three Months Ended | |||||||||||||||||
| 6/27/2026 | 6/28/2025 | Inc/(Dec) % | |||||||||||||||
| (Dollars and Shares in Thousands, Except Per Share Data) | |||||||||||||||||
| Net revenues | $ | 339,380 | $ | 321,394 | 5.6% | ||||||||||||
| Cost of goods sold | 136,577 | 129,150 | 5.8% | ||||||||||||||
| Gross profit | 202,803 | 192,244 | 5.5% | ||||||||||||||
| Research and development | 16,200 | 16,261 | (0.4)% | ||||||||||||||
| Selling, general and administrative | 118,941 | 110,719 | 7.4% | ||||||||||||||
| Amortization of acquired intangible assets | 10,204 | 11,392 | (10.4)% | ||||||||||||||
| Total Operating expenses | 145,345 | 138,372 | 5.0% | ||||||||||||||
| Operating income | 57,458 | 53,872 | 6.7% | ||||||||||||||
| Interest and other expense, net | (9,884) | (8,703) | 13.6% | ||||||||||||||
| Income before provision for income taxes | 47,574 | 45,169 | 5.3% | ||||||||||||||
| Provision for income taxes | 14,564 | 11,138 | 30.8% | ||||||||||||||
| Net income | $ | 33,010 | $ | 34,031 | (3.0)% | ||||||||||||
| Net income per common share assuming dilution | $ | 0.72 | $ | 0.70 | 2.9% | ||||||||||||
| Weighted average shares outstanding | |||||||||||||||||
| Basic | 45,361 | 48,111 | |||||||||||||||
| Diluted | 45,704 | 48,353 | |||||||||||||||
| Profit Margins: | Inc/(Dec) % | ||||||||||||||||
| Gross profit | 59.8 | % | 59.8 | % | —% | ||||||||||||
| Research and development | 4.8 | % | 5.1 | % | (0.3)% | ||||||||||||
| Selling, general and administrative | 35.0 | % | 34.4 | % | 0.6% | ||||||||||||
| Operating income | 16.9 | % | 16.8 | % | 0.1% | ||||||||||||
| Income before provision for income taxes | 14.0 | % | 14.1 | % | (0.1)% | ||||||||||||
| Net income | 9.7 | % | 10.6 | % | (0.9)% | ||||||||||||
6
| Revenue Analysis by Business Unit (Unaudited) | |||||||||||||||||||||||||||||||||||
| Three Months Ended | |||||||||||||||||||||||||||||||||||
| 6/27/2026 | 6/28/2025 | Reported growth | Currency impact | Strategic Exits(1) | Organic growth(2) | ||||||||||||||||||||||||||||||
| (Dollars in Thousands) | |||||||||||||||||||||||||||||||||||
| Revenues by business unit | |||||||||||||||||||||||||||||||||||
| Plasma | $ | 155,524 | $ | 145,074 | 7.2 | % | 0.1 | % | (1.1) | % | 8.2 | % | |||||||||||||||||||||||
Other(3) | 35,794 | 36,662 | (2.4) | % | 0.4 | % | — | % | (2.8) | % | |||||||||||||||||||||||||
| Apheresis | $ | 191,318 | $ | 181,736 | 5.3 | % | 0.2 | % | (0.9) | % | 6.0 | % | |||||||||||||||||||||||
Interventional Technologies(4) | $ | 59,942 | $ | 58,483 | 2.5 | % | (0.3) | % | — | % | 2.8 | % | |||||||||||||||||||||||
Blood Management Technologies(5) | 88,120 | 81,175 | 8.6 | % | 0.5 | % | — | % | 8.1 | % | |||||||||||||||||||||||||
| MedSurg | $ | 148,062 | $ | 139,658 | 6.0 | % | 0.1 | % | — | % | 5.9 | % | |||||||||||||||||||||||
| Total net revenues | $ | 339,380 | $ | 321,394 | 5.6 | % | 0.2 | % | (0.5) | % | 5.9 | % | |||||||||||||||||||||||
__________
(1) Includes the impact of the exit of certain liquid solution products.
(2) Includes nominal historical pre-acquisition revenue of Vivasure.
(3) Other includes blood collection and processing devices and disposables.
(4) Interventional Technologies includes Vascular Closure, Sensor Guided Technologies and Esophageal Protection product lines of the MedSurg business unit.
(5) Blood Management Technologies includes Hemostasis Management, Cell Salvage and Transfusion Management product lines of the MedSurg business unit.
7
| Condensed Consolidated Balance Sheets (Unaudited) | |||||||||||
| June 27, 2026 | March 28, 2026 | ||||||||||
| (Dollars in Thousands) | |||||||||||
| Assets | |||||||||||
| Cash and cash equivalents | $ | 223,384 | $ | 245,440 | |||||||
| Accounts receivable, net | 216,071 | 216,855 | |||||||||
| Inventories, net | 306,739 | 306,370 | |||||||||
| Other current assets | 64,638 | 66,214 | |||||||||
| Total current assets | 810,832 | 834,879 | |||||||||
| Property, plant & equipment, net | 303,778 | 305,761 | |||||||||
| Intangible assets, net | 434,512 | 447,655 | |||||||||
| Goodwill | 656,884 | 656,368 | |||||||||
| Other assets | 159,394 | 151,262 | |||||||||
| Total assets | $ | 2,365,400 | $ | 2,395,925 | |||||||
| Liabilities & Stockholders' Equity | |||||||||||
| Short-term debt & current maturities | $ | 4,956 | $ | 5,015 | |||||||
| Other current liabilities | 258,279 | 277,584 | |||||||||
| Total current liabilities | 263,235 | 282,599 | |||||||||
| Long-term debt | 1,169,202 | 1,219,565 | |||||||||
| Other long-term liabilities | 95,862 | 97,441 | |||||||||
| Stockholders' equity | 837,101 | 796,320 | |||||||||
| Total liabilities & stockholders' equity | $ | 2,365,400 | $ | 2,395,925 | |||||||
8
| Condensed Consolidated Statements of Cash Flows (Unaudited) | |||||||||||
| Three Months Ended | |||||||||||
| June 27, 2026 | June 28, 2025 | ||||||||||
| (Dollars in Thousands) | |||||||||||
| Cash Flows from Operating Activities: | |||||||||||
| Net income | $ | 33,010 | $ | 34,031 | |||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Depreciation and amortization | 27,111 | 28,758 | |||||||||
| Amortization of fair value inventory step-up | — | 2,436 | |||||||||
| Share-based compensation expense | 9,311 | 9,312 | |||||||||
| Deferred income taxes | 668 | (3,231) | |||||||||
| Change in other non-cash operating activities | 2,227 | 1,571 | |||||||||
| Change in operating assets and liabilities: | |||||||||||
| Change in accounts receivable, net | 297 | 3,557 | |||||||||
| Change in inventories, net | (1,004) | 3,296 | |||||||||
| Change in prepaid income taxes | 6,101 | 3,346 | |||||||||
| Change in other assets and other liabilities | (12,783) | (17,785) | |||||||||
| Change in accounts payable and accrued expenses | (12,615) | (47,896) | |||||||||
| Net cash provided by operating activities | 52,323 | 17,395 | |||||||||
| Cash Flows from Investing Activities: | |||||||||||
| Capital expenditures | (7,906) | (3,754) | |||||||||
| Non-cash transfers from inventory to property, plant and equipment for Haemonetics equipment | (5,565) | (11,460) | |||||||||
| Proceeds from sale of property, plant and equipment | 237 | 297 | |||||||||
| Other investments | (9,000) | (18,083) | |||||||||
| Net cash used in investing activities | (22,234) | (33,000) | |||||||||
| Cash Flows from Financing Activities: | |||||||||||
| Repayments, net of borrowings | (51,563) | (1,563) | |||||||||
| Proceeds from employee stock programs | 3,549 | 3,938 | |||||||||
| Cash used to net share settle employee equity awards | (3,500) | (4,781) | |||||||||
| Other financing activities | (14) | (36) | |||||||||
| Net cash used in financing activities | (51,528) | (2,442) | |||||||||
| Effect of exchange rates on cash and cash equivalents | (617) | 4,182 | |||||||||
| Net Change in Cash and Cash Equivalents | (22,056) | (13,865) | |||||||||
| Cash and Cash Equivalents at Beginning of the Period | 245,440 | 306,763 | |||||||||
| Cash and Cash Equivalents at End of Period | $ | 223,384 | $ | 292,898 | |||||||
| Free Cash Flow Reconciliation: | |||||||||||
| Cash provided by operating activities | $ | 52,323 | $ | 17,395 | |||||||
| Capital expenditures | (7,906) | (3,754) | |||||||||
| Additions to Haemonetics equipment | (5,565) | (11,460) | |||||||||
| Proceeds from sale of property, plant and equipment | 237 | 297 | |||||||||
| Free cash flow | $ | 39,089 | $ | 2,478 | |||||||
9
Reconciliation of Adjusted Measures for First Quarter of FY27 and FY26 (Unaudited) | |||||||||||||||||||||||||||||||||||||||||
| Gross profit | Operating expenses | Operating income (loss) | Interest and other expense | Provision (benefit) for income taxes | Net income (loss) | Earnings per diluted share | |||||||||||||||||||||||||||||||||||
Three Months Ended June 27, 2026: | (Dollars in Thousands, Except Per Share Data) | ||||||||||||||||||||||||||||||||||||||||
| Reported | $ | 202,803 | $ | 145,345 | $ | 57,458 | $ | (9,884) | $ | 14,564 | $ | 33,010 | $ | 0.72 | |||||||||||||||||||||||||||
| Amortization of acquired intangible assets | — | (10,204) | 10,204 | — | 2,285 | 7,919 | 0.16 | ||||||||||||||||||||||||||||||||||
| Integration and transaction costs | 1,285 | (1,434) | 2,719 | — | (423) | 3,142 | 0.07 | ||||||||||||||||||||||||||||||||||
| Restructuring costs | 783 | (1,515) | 2,298 | — | 537 | 1,761 | 0.04 | ||||||||||||||||||||||||||||||||||
| Restructuring related costs | 10 | 50 | (40) | — | — | (40) | — | ||||||||||||||||||||||||||||||||||
| Digital transformation costs | — | (6,163) | 6,163 | — | 1,563 | 4,600 | 0.10 | ||||||||||||||||||||||||||||||||||
| Litigation-related charges | — | (457) | 457 | — | — | 457 | 0.01 | ||||||||||||||||||||||||||||||||||
| Equity method losses | — | — | — | 1,000 | 255 | 745 | 0.02 | ||||||||||||||||||||||||||||||||||
| Discrete tax items | — | — | — | — | (696) | 696 | 0.02 | ||||||||||||||||||||||||||||||||||
| Adjusted | $ | 204,881 | $ | 125,622 | $ | 79,259 | $ | (8,884) | $ | 18,085 | $ | 52,290 | $ | 1.14 | |||||||||||||||||||||||||||
| Adjusted, as a percentage of net revenues | 60.4 | % | 37.0 | % | 23.4 | % | 15.4 | % | |||||||||||||||||||||||||||||||||
| Gross profit | Operating expenses | Operating income (loss) | Interest and other (expense) income | Provision (benefit) for income taxes | Net income (loss) | Earnings per diluted share | |||||||||||||||||||||||||||||||||||
Three Months Ended June 28, 2025: | (Dollars in Thousands, Except Per Share Data) | ||||||||||||||||||||||||||||||||||||||||
| Reported | $ | 192,244 | $ | 138,372 | $ | 53,872 | $ | (8,703) | $ | 11,138 | $ | 34,031 | $ | 0.70 | |||||||||||||||||||||||||||
| Amortization of acquired intangible assets | — | (11,392) | 11,392 | — | 2,923 | 8,469 | 0.18 | ||||||||||||||||||||||||||||||||||
| Amortization of fair value inventory step-up | 2,436 | — | 2,436 | — | 618 | 1,818 | 0.04 | ||||||||||||||||||||||||||||||||||
| Integration and transaction costs | 1,030 | (1,652) | 2,682 | 2,022 | 1,212 | 3,492 | 0.07 | ||||||||||||||||||||||||||||||||||
| Restructuring costs | (385) | (1,651) | 1,266 | — | 290 | 976 | 0.02 | ||||||||||||||||||||||||||||||||||
| Restructuring related costs | (13) | (71) | 58 | — | 9 | 49 | — | ||||||||||||||||||||||||||||||||||
| Digital transformation costs | — | (5,355) | 5,355 | — | 1,334 | 4,021 | 0.08 | ||||||||||||||||||||||||||||||||||
| Litigation-related charges | — | (584) | 584 | — | 148 | 436 | 0.01 | ||||||||||||||||||||||||||||||||||
| Remeasurement of contingent consideration | — | 93 | (93) | — | (34) | (59) | — | ||||||||||||||||||||||||||||||||||
| Adjusted | $ | 195,312 | $ | 117,760 | $ | 77,552 | $ | (6,681) | $ | 17,638 | $ | 53,233 | $ | 1.10 | |||||||||||||||||||||||||||
| Adjusted, as a percentage of net revenues | 60.8 | % | 36.6 | % | 24.1 | % | 16.6 | % | |||||||||||||||||||||||||||||||||
10