STERIS said revenue for the 3 months ended June 30, 2024 rose 8.1% to $1,279.5 million from $1,183.4 million a year earlier. The company cited higher volume, including added volume from the BD asset acquisition, and pricing as factors.

10-QQuarterly reportFiled Aug 8, 2024Period of report Jun 30, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

STERIS said revenue for the 3 months ended June 30, 2024 rose 8.1% to $1,279.5 million from $1,183.4 million a year earlier. The company cited higher volume, including added volume from the BD asset acquisition, and pricing as factors.
The company said service revenues rose 9.2% and consumable revenues rose 20.8% in the first 3 months, while capital equipment revenues fell 10.3%. It said growth in service revenues was partly offset by a decline tied to the divestiture of the CECS business in the Life Sciences segment.
STERIS said it adopted a restructuring plan in May 2024 that will eliminate fewer than 300 positions. It reported pre-tax restructuring expenses of $72.5 million since inception, of which $20.7 million was recorded in cost of revenues. The company said it expects annual income from operations to improve by about $25.0 million.
The company said it received $809.6 million in proceeds from the sale of its Dental segment and CECS business in the first 3 months of fiscal 2025. It said it repaid $638.1 million of term loans and made net payments of $253.2 million under credit facilities in the same period. The company cited the use of Dental sale proceeds as the reason for the increase.

Key figures

Quarter ended June 30, 2024

Revenue: $1.3B
Operating income: $186M
Net income: $145M
EPS: $1.46
Gross profit: $572M
Operating cash flow: $304M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

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.

Revenues for the 3 months ended June 30, 2024 at $1,279.5 million

STERIS said revenue for the 3 months ended June 30, 2024 rose 8.1% to $1,279.5 million from $1,183.4 million a year earlier. The company cited higher volume, including added volume from the BD asset acquisition, and pricing as factors.

Source · Based on the MD&A text of the filing

Revenue by Type: Consumables Up 20.8%, Capital Equipment Down 10.3%

The company said service revenues rose 9.2% and consumable revenues rose 20.8% in the first 3 months, while capital equipment revenues fell 10.3%. It said growth in service revenues was partly offset by a decline tied to the divestiture of the CECS business in the Life Sciences segment.

Source · Based on the MD&A text of the filing

Fiscal 2025 Restructuring Plan and Cumulative Costs

STERIS said it adopted a restructuring plan in May 2024 that will eliminate fewer than 300 positions. It reported pre-tax restructuring expenses of $72.5 million since inception, of which $20.7 million was recorded in cost of revenues. The company said it expects annual income from operations to improve by about $25.0 million.

Source · Based on the MD&A text of the filing

Divestiture Proceeds of $809.6 million and Debt Repayment

The company said it received $809.6 million in proceeds from the sale of its Dental segment and CECS business in the first 3 months of fiscal 2025. It said it repaid $638.1 million of term loans and made net payments of $253.2 million under credit facilities in the same period. The company cited the use of Dental sale proceeds as the reason for the increase.

Source · Based on the MD&A text of the filing

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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