Medical equipment and services company Steris (NYSE: STE). will be announcing earnings results this Wednesday after market hours. Here’s what to look for.
STERIS beat analysts’ revenue expectations by 2% last quarter, reporting revenues of $1.46 billion, up 9.9% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ constant currency revenue estimates and a solid beat of analysts’ revenue estimates.
Is STERIS a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting STERIS’s revenue to grow 8% year on year to $1.48 billion, improving from the 5.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.53 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. STERIS has missed Wall Street’s revenue estimates four times over the last two years.
Looking at STERIS’s peers in the healthcare equipment and supplies segment, some have already reported their Q4 results, giving us a hint as to what we can expect. CONMED delivered year-on-year revenue growth of 7.9%, beating analysts’ expectations by 1.7%, and Neogen reported a revenue decline of 2.8%, topping estimates by 7.2%. CONMED traded down 3.6% following the results while Neogen was up 30.4%.
Read our full analysis of CONMED’s results here and Neogen’s results here.
Investors in the healthcare equipment and supplies segment have had steady hands going into earnings, with share prices flat over the last month. STERIS is up 2.9% during the same time and is heading into earnings with an average analyst price target of $281.63 (compared to the current share price of $264.27).
P.S. STOP buying the AI stocks everyone's talking about. The real money? It’s in the profitable pick nobody’s watching yet. We’ve identified an AI profit machine that’s flying under Wall Street’s radar—for now. We can’t keep this research public forever—grab your FREE copy before we pull it offline. GO HERE NOW.
