Steris (NYSE:STE) reported fiscal third-quarter results that beat the consensus forecast on Wall Street, upping its fiscal 2022 forecast.
The infection prevention technology company — headquartered in Dublin, Ireland and run operationally out of Mentor, Ohio — earned $143.6 million, or $1.42 per share, off $1.2 billion in revenue for the quarter ended Dec. 31, 2021. The results, posted yesterday evening, represented 25% bottom-line growth and 49% top-line growth compared with the previous Q3.
Adjusted to exclude one-time items, earnings per share were $2.12, 16¢ ahead of The Street, where analysts were looking EPS of $1.96 on sales of $1.19 billion.
“While supply chain and inflation continue to be a challenge, our teams have worked to manage through with minimal impact on our ability to serve our customers,” Steris CEO Dan Carestio said in a news release.
Steris said it expects to log adjusted EPS of $7.85–7.95 this fiscal year, up from prior guidance of $7.60–7.85. It now projects constant currency organic revenue growth of roughly 11%, compared with prior expectations of 10–11%.
“We continue to anticipate another record year for Steris and are updating our outlook for the full fiscal year 2022 based on better than anticipated performance,” Carestio said.
Investors reacted by sending STE shares up nearly 3% to $237.37 apiece near today’s trading close. MassDevice’s and MDO’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up nearly 2%.