Haemonetics (HAE) continues to expand its business, banking on growth drivers like Plasma, Thromboelastography (TEG), Hemostasis Management and the Vascular Closure business. The stock sports a Zacks Rank #1 (Strong Buy). The rollout of Persona — the company's proprietary technology proven to increase yield from 9% to 12% on average — continues to gain momentum, with more than 25 million collections. Some other top-ranked stocks from the broader medical space are Medpace (MEDP) , ResMed (RMD) and Encompass ...

Its earnings are expected to grow 12% in the next five years. HAE's ROE for the trailing 12 months was 4.6%, better than the industry average of 0.2%. Will the Upside Continue? The Zacks Consensus Estimate for HAE's 2025 earnings is pegged at $1.40, indicating a 6.9% increase from the year-ago reported figure. The consensus estimate for 2025 revenues is pegged at $4.46 billion, indicating a year- over-year improvement of 12.6%. Haemonetics is gaining from the newly-completed limited market release of the ne ...

Shares of Haemonetics (HAE) have been strong performers lately, with the stock up 13.4% over the past month. The stock hit a new 52-week high of $97.35 in the previous session. Haemonetics has gained 12.5% since the start of the year compared to the 3.8% move for the Zacks Medical sector and the 2.9% return for the Zacks Medical - Products industry. What's Driving the Outperformance? The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any ...

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Haemonetics Corporation (HAE) delivered adjusted earnings per share (EPS) of 90 cents for the fourth quarter of fiscal 2024, up 16.9% year over year. The bottom line surpassed the Zacks Consensus Estimate by 2.3%.On a GAAP basis, EPS was 40 cents, down 29.8% from the prior-year quarter’s levels.For the full year, adjusted earnings were $3.96 per share, up 30.7% from the year-ago period’s figure. It beats the Zacks Consensus Estimate by 03%.Total RevenuesRevenues increased 12.8% to $343.3 million in the four ...

For the quarter ended March 2024, Haemonetics (HAE) reported revenue of $343.29 million, up 12.8% over the same period last year. EPS came in at $0.90, compared to $0.77 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $326.95 million, representing a surprise of +5.00%. The company delivered an EPS surprise of +2.27%, with the consensus EPS estimate being $0.88.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how ...

Haemonetics (HAE) came out with quarterly earnings of $0.90 per share, beating the Zacks Consensus Estimate of $0.88 per share. This compares to earnings of $0.77 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.27%. A quarter ago, it was expected that this provider blood management systems for health care providers and blood collectors would post earnings of $0.97 per share when it actually produced earnings of $1.04, delive ...

[Financial Highlights for Q4 and Fiscal Year 2024](index=1&type=section&id=Haemonetics%20Reports%20Fourth%20Quarter%20and%20Fiscal%202024%20Results%3B%20Provides%20Fiscal%202025%20Guidance) Haemonetics achieved strong Q4 and FY2024 financial results, driven by double-digit revenue growth and strategic portfolio evolution [Overview](index=1&type=section&id=Overview) Haemonetics reported strong Q4 and FY2024 financial results, emphasizing double-digit revenue growth and strategic portfolio evolution Q4 and Fiscal 2024 Key Financial Metrics | Metric | Q4 2024 | Fiscal 2024 | | :--- | :--- | :--- | | **Revenue** | $343 million (+13%) | $1.309 billion (+12%) | | **Organic Revenue Growth** | 10% | 12% | | **GAAP EPS** | $0.40 | $2.29 | | **Adjusted EPS** | $0.90 | $3.96 | | **Cash Flow from Operations** | $64 million | $182 million | - CEO Chris Simon stated that the company advanced its market leadership and portfolio evolution by investing selectively, acquiring new products, and rationalizing non-strategic assets to accelerate growth and margin expansion[1](index=1&type=chunk) [Financial Performance Analysis](index=1&type=section&id=Financial%20Performance%20Analysis) This section analyzes Haemonetics' financial performance, detailing revenue growth, margin changes, and profitability metrics [Q4 FY2024 Performance](index=1&type=section&id=Q4%20FY2024%20Performance) Q4 FY2024 reported revenue grew 12.8%, led by the Hospital segment, with adjusted operating margin improving despite GAAP margin decline [GAAP Results (Q4 FY2024)](index=1&type=section&id=GAAP%20Results%20Q4%20FY2024) Q4 FY2024 GAAP revenue grew 12.8% to $343.3 million, driven by Hospital segment, though operating income and margin declined Q4 2024 GAAP Revenue by Business Unit | Business Unit | Revenue ($ millions) | Growth Rate (YoY) | | :--- | :--- | :--- | | Plasma | $138.6 | 5.7% | | Blood Center | $70.2 | 4.5% | | Hospital | $129.2 | 28.1% | | **Total Net Revenue** | **$343.3** | **12.8%** | - GAAP gross margin was stable at **51.2%** compared to 51.3% in Q4 FY23, with the slight decrease due to foreign exchange impacts and acquisition-related amortization, offset by volume and mix[3](index=3&type=chunk)[4](index=4&type=chunk) - Operating expenses as a percentage of revenue increased to **42.5%** from 39.7% in Q4 FY23, driven by growth investments, digital transformation, acquisition costs (OpSens Inc.), and freight[4](index=4&type=chunk) - Q4 FY24 net income was **$20.4 million**, with earnings per diluted share of **$0.40**, a decrease from $29.4 million and $0.57 per share in Q4 FY23[4](index=4&type=chunk) [Adjusted (Non-GAAP) Results (Q4 FY2024)](index=2&type=section&id=Adjusted%20Results%20Q4%20FY2024) Q4 FY2024 adjusted organic revenue grew 10.2%, led by Hospital segment, with gross margin expanding to 54.0% and EPS increasing to $0.90 Q4 2024 Organic Revenue Growth by Business Unit | Business Unit | Organic Growth Rate (YoY) | | :--- | :--- | | Plasma | 5.6% | | Blood Center | 7.1% | | Hospital | 18.7% | | **Total Net Revenue** | **10.2%** | - Adjusted gross margin increased by **220 basis points** to **54.0%**, driven by volume and mix, partially offset by foreign exchange impacts[5](index=5&type=chunk) - Adjusted operating margin improved by **110 basis points** to **18.8%** compared to the prior year period[6](index=6&type=chunk) - Adjusted net income for Q4 FY24 was **$46.0 million**, a **17.3% increase**, with adjusted EPS of **$0.90**, up **16.9%** from the prior year[7](index=7&type=chunk) [Balance Sheet and Cash Flow](index=3&type=section&id=Balance%20Sheet%20and%20Cash%20Flow) This section details the company's financial position and cash generation, highlighting changes in assets, liabilities, and cash flow activities [FY2024 Balance Sheet and Cash Flow Summary](index=3&type=section&id=FY2024%20Balance%20Sheet%20and%20Cash%20Flow%20Summary) FY2024 cash on hand decreased to $178.8 million due to acquisitions, while operating and free cash flow declined due to increased inventories - Cash on hand decreased by **$105.7 million** since the beginning of the fiscal year, ending at **$178.8 million**, largely driven by the acquisition of OpSens Inc[9](index=9&type=chunk) Fiscal Year Cash Flow Comparison | Metric | FY 2024 | FY 2023 | | :--- | :--- | :--- | | Cash Flow from Operating Activities | $181.8 million | $273.1 million | | Free Cash Flow (before restructuring) | $127.2 million | $190.4 million | - The decrease in both operating and free cash flow was primarily attributed to increased inventory balances[10](index=10&type=chunk) [Fiscal 2025 Guidance](index=4&type=section&id=Fiscal%2025%20Guidance) This section provides the company's financial outlook for fiscal year 2025, including revenue, margin, and EPS projections [FY2025 Outlook](index=4&type=section&id=FY2025%20Outlook) FY2025 guidance projects 5-8% total revenue growth, 0-3% organic, adjusted operating margin 23-24%, and adjusted EPS $4.45-$4.75 Fiscal 2025 Revenue Growth Guidance | Segment | Reported Growth | Organic Growth | | :--- | :--- | :--- | | Plasma | (3) - 6% | (3) - 6% | | Blood Center | (5) - 8% | (5) - 7% | | Hospital | 27% - 32% | 13% - 16% | | **Total Company** | **5% - 8%** | **0% - 3%** | Fiscal 2025 Adjusted Guidance | Metric | Guidance Range | | :--- | :--- | | Adjusted Operating Margin | 23% - 24% | | Adjusted EPS | $4.45 - $4.75 | | Free Cash Flow | $130M - $180M | - Beginning in fiscal 2025, the company will integrate service revenue within its three business units, changing its revenue reporting format[11](index=11&type=chunk) [Financial Statements](index=7&type=section&id=Financial%20Statements) This section presents the company's detailed consolidated financial statements, including income, balance sheet, and cash flow [Condensed Consolidated Statements of Income](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) FY2024 net revenues reached $1.31 billion, up 12.0%, with gross profit up 12.4%, but operating income growth was modest due to higher expenses Fiscal Year 2024 vs 2023 Income Statement Highlights | Metric | Year Ended 3/30/2024 | Year Ended 4/1/2023 | % Change | | :--- | :--- | :--- | :--- | | Net Revenues | $1,309.1 M | $1,168.7 M | 12.0% | | Gross Profit | $691.5 M | $615.1 M | 12.4% | | Operating Income | $164.9 M | $156.0 M | 5.7% | | Net Income | $117.6 M | $115.4 M | 1.9% | | Diluted EPS | $2.29 | $2.24 | 2.2% | [Revenue Analysis by Business Unit](index=8&type=section&id=Revenue%20Analysis%20by%20Business%20Unit) FY2024 total net revenue grew 12.0% reported and 11.7% organically, led by strong Hospital and Plasma segment performance Full Fiscal Year 2024 Revenue Growth by Business Unit | Business Unit | FY24 Revenue ($M) | Reported Growth | Organic Growth | | :--- | :--- | :--- | :--- | | Plasma | $565.9 | 13.9% | 13.8% | | Blood Center | $276.1 | (1.4)% | 1.0% | | Hospital | $445.4 | 19.8% | 17.1% | | **Total Net Revenues** | **$1,309.1** | **12.0%** | **11.7%** | Q4 2024 Revenue Growth by Business Unit | Business Unit | Q4 FY24 Revenue ($M) | Reported Growth | Organic Growth | | :--- | :--- | :--- | :--- | | Plasma | $138.6 | 5.7% | 5.6% | | Blood Center | $70.2 | 4.5% | 7.1% | | Hospital | $129.2 | 28.1% | 18.7% | | **Total Net Revenues** | **$343.3** | **12.8%** | **10.2%** | [Condensed Consolidated Balance Sheets](index=9&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 30, 2024, total assets increased to $2.20 billion, driven by acquisition-related intangible assets and goodwill, with a slight rise in total debt Balance Sheet Summary (as of March 30, 2024) | Account | 3/30/2024 ($ thousands) | 4/1/2023 ($ thousands) | | :--- | :--- | :--- | | Cash and cash equivalents | $178,800 | $284,466 | | Total current assets | $768,903 | $769,722 | | Intangible assets, net | $406,117 | $275,771 | | Goodwill | $565,082 | $466,231 | | **Total assets** | **$2,195,591** | **$1,934,825** | | Total current liabilities | $300,383 | $251,816 | | Long-term debt | $797,564 | $754,102 | | **Total liabilities & stockholders' equity** | **$2,195,591** | **$1,934,825** | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) FY2024 operating cash flow decreased to $181.8 million due to increased inventories, while investing activities used $322.4 million, primarily for acquisitions Fiscal Year 2024 Cash Flow Summary | Cash Flow Activity | Year Ended 3/30/2024 ($ thousands) | Year Ended 4/1/2023 ($ thousands) | | :--- | :--- | :--- | | Net cash provided by operating activities | $181,751 | $273,058 | | Net cash used in investing activities | ($322,389) | ($143,788) | | Net cash provided by (used in) financing activities | $38,157 | ($100,364) | | **Net Change in Cash** | **($105,666)** | **$24,970** | - Free cash flow before restructuring costs was **$127.2 million** in FY24, down from **$190.4 million** in FY23[26](index=26&type=chunk) [Reconciliation of GAAP to Non-GAAP Measures](index=11&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Measures) Reconciliations detail adjustments from GAAP to non-GAAP results for Q4 and FY2024, showing higher adjusted net income and EPS due to various exclusions Q4 FY24 GAAP to Adjusted EPS Reconciliation | Metric | Amount | | :--- | :--- | | **Reported (GAAP) EPS** | **$0.40** | | Amortization of intangibles | $0.15 | | Restructuring & related costs | $0.14 | | Digital transformation costs | $0.07 | | Other adjustments | $0.14 | | **Adjusted (Non-GAAP) EPS** | **$0.90** | Full Year FY24 GAAP to Adjusted EPS Reconciliation | Metric | Amount | | :--- | :--- | | **Reported (GAAP) EPS** | **$2.29** | | Amortization of intangibles | $0.46 | | Restructuring & related costs | $0.35 | | Digital transformation costs | $0.23 | | Integration costs | $0.19 | | Impairment of intangible assets | $0.14 | | Other adjustments | $0.30 | | **Adjusted (Non-GAAP) EPS** | **$3.96** |

Financial release accessible onlineBOSTON, May 9, 2024 /PRNewswire/ -- Haemonetics Corporation (NYSE: HAE) announced that financial results for its fourth quarter and fiscal year 2024, which ended March 30, 2024, are available on its Investor Relations website.The Company will host a conference call and webcast with investors and analysts to discuss and answer questions about the results at 8:00 a.m. ET on May 9, 2024. The conference call and webcast can be accessed with the following information: Teleconf ...

Investors interested in stocks from the Medical - Products sector have probably already heard of Royal Philips (PHG) and Haemonetics (HAE) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank puts an emphasis ...