STERIS said revenue for the fiscal year ended March 31, 2024 was $5,138.7 million, up $602.4 million or 13.3% from $4,536.3 million in the prior year. The company cited higher volume, including added volume from the BD asset acquisition, and pricing as the factors behind the increase.

1. 01

   STERIS said revenue for the fiscal year ended March 31, 2024 was $5,138.7 million, up $602.4 million or 13.3% from $4,536.3 million in the prior year. The company cited higher volume, including added volume from the BD asset acquisition, and pricing as the factors behind the increase.

2. 02

   The company said its gross profit percentage fell to 43.2% from 43.7% a year earlier. It said inflation and material costs (120 basis points) and restructuring charges (40 basis points) were unfavorable, while pricing (150 basis points) was favorable.

3. 03

   STERIS said it acquired surgical instrumentation, laparoscopic instrumentation and sterilization container assets from Becton, Dickinson and Company on August 2, 2023 for $539.8 million and is integrating them into its Healthcare segment. It also said it incurred pre-tax restructuring expenses of $44.4 million for the year.

4. 04

   The company said net cash provided by operating activities rose to $973.3 million from $756.9 million a year earlier, and free cash flow was $620.3 million compared with $409.6 million in the prior year. It said the increase in free cash flow was driven by operating cash flow, and capital expenditures were comparable to the prior year.

Key figures

Fiscal year ended March 31, 2024

Revenue

$5.1B

Operating income

$836M

Net income

$378M

EPS

$3.81

Gross profit

$2.2B

Operating cash flow

$973M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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