On February 17, 2026, Sessa Capital disclosed a major buy of Sotera Health (NASDAQ:SHC), adding 10,630,381 shares in an estimated $175.80 million trade based on quarterly average pricing. What happened According to a filing with the Securities and Exchange Commission dated February 17, 2026, Sessa Capital purchased 10,630,381 additional shares of Sotera Health in the fourth quarter. The estimated transaction value is $175.80 million, calculated using the average closing price for the quarter. The fund’s ...

Discussing 2025 performance, Lyons said the year played out differently than initial expectations, but landed within the company’s organic revenue guidance range of 4% to 6%, finishing at 5.2% organic revenue growth. He said the expert advisory business at Nelson Labs performed worse than expected and became a “pretty significant” headwind. However, that was offset by stronger-than-anticipated volume performance at Sterigenics, which improved more quickly than planned.Lyons also emphasized the company’s fin ...

PresentationBrett FishbinKeyBanc Capital Markets Inc., Research Division All right. I'd like to welcome everyone to the Sixth Annual KeyBanc Healthcare Forum. My name is Brett Fishbin, Senior MedTech analyst, and I'm pleased to be joined today by Sotera Health, who's represented by Jon Lyons, the CFO. I'll start us off with questions, but it will be a 100% Q&A session and questions can be submitted directly to me by typing in the box below the video screen. And if we have time, I can relay them to Jon. So ...

CLEVELAND, March 16, 2026 (GLOBE NEWSWIRE) -- Sotera Health Company (Nasdaq: SHC) (the “Company” or “Sotera Health”), a leading global provider of mission-critical end-to-end sterilization solutions, lab testing and advisory services for the healthcare industry, announced today that it has appointed Kenneth D. Krause as a new independent director to its Board of Directors (the “Board”). Mr. Krause has served as Executive Vice President and Chief Financial Officer of Rollins, Inc. (NYSE: ROL) (“Rollins”), a ...

Core Insights - MIG Capital disclosed a reduction in its holdings of Sotera Health, selling 2,262,292 shares valued at approximately $37.41 million [1][2] - The total position value for Sotera Health declined by $31.83 million at the end of the fourth quarter of 2025, reflecting both trading and share price changes [2] Company Overview - Sotera Health is a leading provider of sterilization and laboratory services, supporting critical supply chains in healthcare, pharmaceuticals, and food safety [5] - The company operates a service-based business model generating revenue through sterilization, laboratory testing, and consulting for regulated industries [8] - As of the latest data, Sotera Health's market capitalization is $3.8 billion, with a revenue of $1.16 billion and a net income of $77.95 million for the trailing twelve months [4] Financial Performance - In 2025, Sotera Health achieved a 5.7% increase in sales to $1.16 billion, while adjusted EBITDA rose by 8.2% to approximately $594 million [6] - The net income nearly doubled from the previous year to $78 million, indicating significant progress on the bottom line [6] - The company expects revenue growth between 5% and 6.5% in 2026, with adjusted EBITDA projected to grow between 5.5% and 7% [10] Market Position - Despite the reduction in holdings, Sotera Health still represents nearly 6% of MIG Capital's portfolio assets, indicating continued confidence in the company [7] - Sotera Health shares were priced at $13.41, reflecting an 18% increase over the past year, slightly underperforming the S&P 500's approximately 20% gain [7] - The company serves a diverse range of clients, including medical device manufacturers, pharmaceutical companies, and food/agricultural producers across North America and Europe [8]

Group 1 - The presentation is led by Luke Sergott from Barclays, focusing on Life Sciences tools and diagnostics [1] - Michael Petras, CEO of Sotera Health, is present during the discussion [1]

Summary of Conference Call Company Overview - The company discussed is involved in the sterilization industry, particularly focusing on ethylene oxide sterilization and related services. Key Points Industry Dynamics - Energy costs and their impact on operations were highlighted, with the company indicating they are well-hedged against utility and gas costs, particularly for ethylene oxide sterilization contracts in the U.S. [1][4] - There are no current supply chain constraints affecting the business [2] Financial Performance - The company reported over 5% growth in revenue and over 8% growth in net income for 2025, generating over $200 million in free cash flow and achieving 118 basis points of margin expansion [4][5] - The company has maintained 20 consecutive years of growth with EBITDA margins exceeding 50% [5] Market Position and Competitiveness - The company outperformed its largest competitor in the sterilization market, although it acknowledged that quarterly performance can vary due to customer dynamics and operational factors [6][8] - For 2026, the company expects top-line growth of 5%-6.5% and EBITDA growth of 5.5%-7% [9] Customer Demand and Order Dynamics - The company does not operate on a pull-in business model; it sterilizes products as they are delivered by customers, with limited storage capacity [13][16] - There is a stable demand from over 3,000 customers, with no significant changes in order dynamics reported [30][33] Regulatory Environment - The NESHAP regulations for sterilization companies have been extended to April 2028, with expectations of modifications to the rules [53][56] - The company is preparing to comply with these regulations and anticipates benefiting from increased outsourcing as smaller players may struggle to meet the new standards [58][62] Ethylene Oxide Sterilization - Ethylene oxide remains a critical modality for sterilization, with strong demand continuing despite regulatory scrutiny [64][70] - The company does not foresee a significant migration away from ethylene oxide, as it is essential for various healthcare products [64][70] Litigation Update - The company is managing ongoing litigation, with over 400 cases in Georgia. Recent cases have been dismissed, and the company is confident in its legal position [110][111] - The transition of the General Counsel was discussed, with the previous counsel remaining as an advisor [94][98] Future Outlook - The company aims for mid-single to high-single-digit growth in the Sterigenics business, with aspirations for low double-digit growth in the future [77] - The company is well-positioned to meet future demand and regulatory requirements, with significant investments planned for facility enhancements [55][56] Additional Insights - The company emphasized the importance of maintaining its value proposition and pricing strength in a competitive market [51] - There is a focus on ensuring that scientific evidence supports the company's position in ongoing litigation, particularly regarding the safety of ethylene oxide [120][126]

Company Overview - Sotera Health is a leading provider of sterilization and laboratory testing solutions, serving critical sectors such as healthcare and pharmaceuticals [6] - The company operates with a diversified portfolio of services to meet regulatory and safety requirements for a global client base, including medical device manufacturers and pharmaceutical companies [9] Financial Performance - Sotera Health reported a total revenue of $1.16 billion for the trailing twelve months (TTM) [4] - The net income for the same period was $77.95 million, with a significant year-over-year increase [11] - The company achieved its 20th consecutive year of revenue growth, with net revenues rising nearly 6% in 2025 and adjusted EBITDA climbing 8% to $594 million [11] - Management has guided for a revenue increase of 5% to 6.5% in 2026, alongside adjusted EBITDA growth of 5.5% to 7.0% [11] Stock Performance - As of February 17, 2026, shares of Sotera Health were priced at $17.09, reflecting a nearly 30% increase over the past year, outperforming the S&P 500 by 14.86 percentage points [8] - The reduction in Ananym Capital Management's stake in Sotera Health lowered its position to 8.65% of the fund's 13F reportable assets under management (AUM) as of December 31, 2025 [8] Market Position - Sotera Health operates mission-critical sterilization and testing infrastructure that is essential for medical device and pharmaceutical companies, making it a non-speculative investment [12] - The company has improved cash flow, reduced leverage to 3.2 times adjusted EBITDA, and strengthened liquidity [12] Investment Perspective - The modest reduction in Ananym Capital Management's position is viewed as risk management following a strong performance rather than a loss of confidence in Sotera Health's business model [10] - Long-term investors are encouraged to focus on the company's consistent revenue growth over two decades in a sector where reliability is crucial [13]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-39729 SOTERA HEALTH COMPANY (Exact name of registrant as specified in its charter) Delaware 47-3531161 (State or other jurisdiction of incorporation ...

Core Insights - Sotera Health reported a total revenue increase of 5.7% in 2025 to $1.164 billion, with a 5.2% increase on a constant-currency basis [5] - The company expects continued revenue and EBITDA growth in 2026, projecting total revenue between $1.233 billion and $1.251 billion, representing 5% to 6.5% constant-currency growth [15] Financial Performance - Nelson Labs' Q4 revenue increased by 2.3% to $55 million, with segment income rising 1.9% to $18 million [1] - Nordion's Q4 revenue declined by 12.3% to $50 million, with segment income falling 18.9% to $29 million [1] - Sterigenics experienced a Q4 revenue growth of 10.6% to $198 million, with segment income rising 10.4% to $110 million [2] - Sotera Health's Q4 revenue was $303 million, up 4.6% year over year, with adjusted EBITDA increasing 2.7% to $157 million [4] Operational Highlights - Customer satisfaction exceeded 80%, and cross-business-unit customer revenue growth was 9% year over year [7] - Sterigenics delivered approximately 8% constant-currency revenue growth for 2025, while Nordion achieved about 9% constant-currency revenue growth [7] Strategic Initiatives - The company is investing in an X-ray facility project as part of a long-term strategy to enhance sterilization services [8] - Management noted that the Sterigenics commercial segment has been "choppy" since 2020-2021, indicating challenges in that area [9] Balance Sheet and Governance - The company reduced borrowing costs by 75 basis points on its $1.4 billion term loan and paid down $86 million of debt, resulting in $13 million of annual interest savings [12] - Liquidity at year-end included about $345 million of unrestricted cash and nearly $600 million of revolver capacity, totaling approximately $940 million [13] - Governance changes included the appointment of a lead independent director and a legal leadership transition [14] 2026 Guidance - Interest expense is expected to be between $135 million and $145 million, with adjusted EPS projected at $0.93 to $1.01 [17] - Capital expenditures are anticipated to be between $175 million and $225 million, with no M&A assumed in the guidance [17]