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 ...

In its upcoming report, Haemonetics (HAE) is predicted by Wall Street analysts to post quarterly earnings of $0.88 per share, reflecting an increase of 14.3% compared to the same period last year. Revenues are forecasted to be $326.95 million, representing a year-over-year increase of 7.4%.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections ove ...

Haemonetics’ (HAE) major growth drivers include Plasma and the Hospital business. However, rising costs are a concern. The stock carries a Zacks Rank #3 (Hold) currently.Haemonetics’ Plasma business unit focuses on the collection of source plasma for pharmaceutical manufacturers using apheresis devices that only collect plasma. The demand for source plasma has been growing due to an expanding end-user market for plasma-derived biopharmaceuticals. The business also offers software solutions to support the op ...

Haemonetics (HAE) is likely to grow in the coming quarters due to its evolving Hospital portfolio, which is creating new opportunities for growth and diversification. The favorable prospects within the Plasma franchise also buoy optimism. The robust utilization of TEG disposables in the United States and China is driving revenues in Hemostasis Management, which is highly encouraging.Meanwhile, the impacts of economic uncertainties and foreign exchange remain concerns for the company’s operations.In the past ...

BOSTON, April 10, 2024 /PRNewswire/ -- Haemonetics Corporation (NYSE: HAE) announced that the Company intends to publish fourth quarter and fiscal year 2024 financial results at 6:00 am ET on Thursday, May 9, 2024. The Company will hold a conference call with investors and analysts to discuss results and answer questions at 8:00 am ET on May 9, 2024.The call can be accessed via teleconference at: Q4 2024 Haemonetics Corporation Earnings Conference Call. Once registration is completed, participants will rece ...

Haemonetics Corporation (HAE) announced receipt of the FDA 510(k) clearance for the TEG 6s hemostasis analyzer system Global Hemostasis-HN assay cartridge. This new cartridge expands Haemonetics' TEG 6s viscoelastic testing capabilities to include fully heparinized patients undergoing adult cardiovascular surgeries/procedures and liver transplants in both laboratory and point-of-care settings.The recent development will fortify Haemonetics’ portfolio of hemostasis diagnostic systems.More on TEG 6s Cartridge ...

BOSTON, April 4, 2024 /PRNewswire/ -- Haemonetics Corporation (NYSE: HAE), a global medical technology company focused on delivering innovative medical solutions to drive better patient outcomes, announced today that it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the TEG® 6s hemostasis analyzer system Global Hemostasis-HN assay cartridge. This new cartridge extends Haemonetics' TEG 6s viscoelastic testing capabilities to serve fully heparinized patients in adult cardio ...