DUBLIN, IRELAND, Jan. 23, 2024 (GLOBE NEWSWIRE) -- STERIS plc (NYSE: STE) (“STERIS” or the “Company”) announced today that it will host a conference call to discuss its fiscal 2024 third quarter financial results at 9:00 a.m. ET on February 8, 2024. The conference call can be heard live at www.steris-ir.com or via phone by dialing 1-833-535-2199 in the United States or 1-412-902-6776 internationally, then asking to join the conference call for STERIS plc.   A press release detailing financial results will b ...

STERIS plc (STE) is well-poised to grow in the coming quarters, backed by its advancements in the healthcare and pharmaceutical industries. The widespread market acceptance of its diverse offerings is driving growth in the Healthcare business. The company is also solvent enough to meet its near-term debt obligations. However, macroeconomic constraints challenge STERIS’ operations, while competitive disadvantages remain a concern. In the past year, shares of this Zacks Rank #3 (Hold) company have rallied 14% ...

STERIS plc (NYSE:STE) Q2 2024 Earnings Conference Call November 8, 2023 9:00 AM ET Company Participants Julie Winter - Vice President of Investor Relations Dan Carestio - President and CEO Mike Tokich - Senior Vice President and CFO Conference Call Participants Jacob Johnson - Stephens, Inc. David Turkaly - JMP Securities Michael Polark - Wolfe Research Michael Matson - Needham & Company Jason Bednar - Piper Sandler Operator Good morning, everyone and welcome to the STERIS plc Fiscal Second Quarter 2024 Con ...

[Part I—Financial Information](index=3&type=section&id=Part%20I%E2%80%94Financial%20Information) [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The company presents its unaudited consolidated financial statements for the three and six months ended September 30, 2023 Consolidated Balance Sheet Highlights (Unaudited) | Account | September 30, 2023 ($ in thousands) | March 31, 2023 ($ in thousands) | | :--- | :--- | :--- | | **Total Assets** | **$11,280,638** | **$10,821,839** | | Total Current Assets | $2,173,977 | $2,011,442 | | Goodwill | $4,040,245 | $3,879,219 | | **Total Liabilities** | **$5,091,470** | **$4,734,667** | | Total Current Liabilities | $873,115 | $861,844 | | Long-term Indebtedness | $3,366,241 | $3,018,655 | | **Total Equity** | **$6,189,168** | **$6,087,172** | Consolidated Statements of Income Highlights (Unaudited) | Metric | Three Months Ended Sep 30, 2023 ($ in thousands) | Three Months Ended Sep 30, 2022 ($ in thousands) | Six Months Ended Sep 30, 2023 ($ in thousands) | Six Months Ended Sep 30, 2022 ($ in thousands) | | :--- | :--- | :--- | :--- | :--- | | **Total Revenues** | **$1,342,360** | **$1,200,517** | **$2,626,902** | **$2,357,008** | | Gross Profit | $593,529 | $532,335 | $1,166,990 | $1,050,133 | | Income (Loss) from Operations | $185,857 | $(306,415) | $374,739 | $(148,020) | | **Net Income (Loss) Attributable to Shareholders** | **$115,319** | **$(315,285)** | **$238,873** | **$(204,023)** | | Diluted EPS | $1.16 | $(3.15) | $2.41 | $(2.04) | Consolidated Statements of Cash Flows Highlights (Unaudited) | Metric | Six Months Ended Sep 30, 2023 ($ in thousands) | Six Months Ended Sep 30, 2022 ($ in thousands) | | :--- | :--- | :--- | | **Net cash provided by operating activities** | **$427,224** | **$335,570** | | Net cash used in investing activities | $(672,833) | $(207,342) | | Net cash provided by (used in) financing activities | $256,577 | $(186,362) | | Increase (decrease) in cash and cash equivalents | $5,400 | $(90,061) | [Note 2. Business Acquisitions](index=13&type=section&id=Note%202.%20Business%20Acquisitions) STERIS acquired surgical and sterilization assets from Becton, Dickinson and Company (BD) for $539.8 million - The company purchased assets from BD for **$539.8 million**, which was financed through its existing credit facility[51](index=51&type=chunk)[52](index=52&type=chunk) - Acquisition and integration expenses totaled **$16.0 million** for the three months and **$18.7 million** for the six months ended September 30, 2023, primarily due to the BD acquisition[54](index=54&type=chunk) [Note 9. Business Segment Information](index=18&type=section&id=Note%209.%20Business%20Segment%20Information) The Healthcare segment was the largest contributor to revenue and operating income, while the Dental segment saw a revenue decline Revenues by Segment (in thousands) | Segment | Three Months Ended Sep 30, 2023 | Three Months Ended Sep 30, 2022 | Six Months Ended Sep 30, 2023 | Six Months Ended Sep 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | Healthcare | $870,056 | $732,813 | $1,688,930 | $1,431,339 | | AST | $235,053 | $232,358 | $468,152 | $453,269 | | Life Sciences | $133,095 | $125,768 | $264,508 | $257,975 | | Dental | $104,156 | $109,578 | $205,312 | $214,425 | | **Total** | **$1,342,360** | **$1,200,517** | **$2,626,902** | **$2,357,008** | Operating Income by Segment (in thousands) | Segment | Three Months Ended Sep 30, 2023 | Three Months Ended Sep 30, 2022 | Six Months Ended Sep 30, 2023 | Six Months Ended Sep 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | Healthcare | $204,054 | $165,337 | $402,236 | $321,834 | | AST | $110,783 | $110,384 | $220,373 | $219,699 | | Life Sciences | $50,284 | $48,619 | $100,125 | $103,924 | | Dental | $24,516 | $28,059 | $46,555 | $47,655 | - The Dental segment relies on three key customers who collectively accounted for approximately **43.8% of its revenue** in the three months ended September 30, 2023[83](index=83&type=chunk) [Note 17. Goodwill](index=28&type=section&id=Note%2017.%20Goodwill) Goodwill increased to $4.04 billion due to the BD acquisition, with no impairment recorded in the current period - Goodwill increased from **$3.88 billion** at March 31, 2023, to **$4.04 billion** at September 30, 2023, mainly from **$202.4 million** in goodwill acquired in the BD transaction[125](index=125&type=chunk) - **No goodwill impairment** was indicated for any segment during the period ended September 30, 2023[126](index=126&type=chunk) - In the prior year period, the company recorded a goodwill impairment charge of **$490.6 million** related to the Dental segment[127](index=127&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=29&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Revenue increased 11.8% in Q2 FY24, driven by organic growth and the BD acquisition, while operating income rose significantly absent the prior year's goodwill impairment [Results of Operations](index=33&type=section&id=Results%20of%20Operations) Q2 FY24 revenues grew 11.8% to $1.34 billion, while operating expenses decreased significantly due to the absence of a prior-year goodwill impairment charge Q2 Revenue Growth by Type | Revenue Type | Q2 FY24 ($ in thousands) | Q2 FY23 ($ in thousands) | % Change | | :--- | :--- | :--- | :--- | | Service | $580,024 | $534,123 | 8.6% | | Consumable | $470,239 | $413,411 | 13.7% | | Capital Equipment | $292,097 | $252,983 | 15.5% | | **Total** | **$1,342,360** | **$1,200,517** | **11.8%** | - The gross profit percentage for Q2 FY24 was **44.2%**, a slight decrease from **44.3%** in Q2 FY23, as inflation and productivity costs offset pricing benefits[165](index=165&type=chunk) - SG&A expenses increased **17.8%** in Q2 FY24, primarily due to increased compensation, professional fees, and bad debt expense[167](index=167&type=chunk) [Business Segment Results of Operations](index=36&type=section&id=Business%20Segment%20Results%20of%20Operations) The Healthcare segment's revenue grew 18.7% driven by the BD acquisition, while the Dental segment's revenue declined 4.9% due to customer destocking - Healthcare Q2 revenue increased **18.7%** (**13.9% constant currency organic growth**) due to higher volume, pricing, and the BD acquisition, with operating margin increasing to **23.5%**[179](index=179&type=chunk)[181](index=181&type=chunk)[189](index=189&type=chunk) - AST Q2 revenue grew **1.2%** (**-1.0% constant currency organic growth**), impacted by customer inventory management, with operating margin slightly decreasing to **47.1%**[179](index=179&type=chunk)[183](index=183&type=chunk)[190](index=190&type=chunk) - Dental Q2 revenue decreased **4.9%** (**-5.7% constant currency organic growth**) due to lower volume from customer inventory destocking, with operating margin declining to **23.5%**[179](index=179&type=chunk)[186](index=186&type=chunk)[192](index=192&type=chunk) [Liquidity and Capital Resources](index=40&type=section&id=Liquidity%20and%20Capital%20Resources) Net cash from operations and free cash flow increased significantly, while the debt-to-total capital ratio rose to 35.7% following the BD acquisition Key Liquidity Metrics (Six Months Ended Sep 30) | Metric ($ in thousands) | 2023 | 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $427,224 | $335,570 | | Net cash used in investing activities | $(672,833) | $(207,342) | | Free cash flow | $284,691 | $138,192 | - The increase in cash from operations was primarily due to a decline in cash used for compensation-related payments, offset by continued investment in inventory[193](index=193&type=chunk) - The debt-to-total capital ratio increased to **35.7%** at September 30, 2023, compared to **34.3%** at September 30, 2022[193](index=193&type=chunk)[198](index=198&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=44&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's exposure to interest rate, currency, and commodity risks has not materially changed, and it continues to use derivatives for hedging - The company's exposures to interest rate, currency, and commodity risks have **not changed materially** since March 31, 2023[219](index=219&type=chunk) - To manage currency risk, the company held forward contracts to buy British pounds and Mexican pesos, and to sell Australian dollars, Canadian dollars, and euros as of September 30, 2023[221](index=221&type=chunk) - To hedge against commodity price changes, the company held swap contracts to buy **376.5 thousand pounds of nickel** as of September 30, 2023[223](index=223&type=chunk) [Item 4. Controls and Procedures](index=45&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes to internal controls during the quarter - The PEO and PFO concluded that the company's disclosure controls and procedures were **effective** as of the end of the period covered by the report[224](index=224&type=chunk) - **No changes** in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, the company's internal controls[225](index=225&type=chunk) [Part II—Other Information](index=46&type=section&id=Part%20II%E2%80%94Other%20Information) [Item 1. Legal Proceedings](index=46&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to other filings for information regarding the company's legal proceedings - Information regarding legal proceedings is incorporated by reference from Note 8 of the consolidated financial statements and the company's most recent Form 10-K[228](index=228&type=chunk) [Item 1A. Risk Factors](index=46&type=section&id=Item%201A.%20Risk%20Factors) This section refers readers to the company's Annual Report on Form 10-K for a complete discussion of risk factors - A complete discussion of the Company's risk factors is included in the Annual Report on Form 10-K for the fiscal year ended March 31, 2023[229](index=229&type=chunk) [Item 2. Unregistered Sales of Equity Securities, Use or Proceeds, and Issuer Purchases of Equity Securities](index=47&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%2C%20Use%20or%20Proceeds%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities) A new $500 million share repurchase program was authorized, but no repurchases have been made under it as of September 30, 2023 - A new share repurchase program for up to **$500 million** was authorized on May 3, 2023[231](index=231&type=chunk) - As of September 30, 2023, **no shares have been repurchased** under the new $500 million program[231](index=231&type=chunk) - During the first six months of fiscal 2024, the company obtained **57,161 ordinary shares** for an aggregate amount of **$9.2 million** related to share-based compensation awards[234](index=234&type=chunk) [Item 5. Other Information](index=47&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted, modified, or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during the period - **No directors or officers** adopted, modified, or terminated a "Rule 10b5-1 trading arrangement" or a "non-Rule 10b5-1 trading arrangement" during the six months ended September 30, 2023[235](index=235&type=chunk) [Item 6. Exhibits](index=48&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including officer certifications and interactive data files - The report includes required exhibits such as officer certifications (31.1, 31.2, 32.1) and Inline XBRL documents (101 series)[238](index=238&type=chunk)

(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number 001-38848 STERIS plc (Exact name of registrant as specified in its charter) (State or other jurisd ...

STERIS plc (NYSE:STE) Q1 2024 Earnings Conference Call August 2, 2023 9:00 AM ET Company Participants Julie Winter - VP, IR & Corporate Communications Michael Tokich - SVP & CFO Daniel Carestio - President, CEO & Director Conference Call Participants Matthew Mishan - KeyBanc Capital Markets David Turkaly - JMP Securities Michael Matson - Needham & Company Patrick Wood - Morgan Stanley Michael Polark - Wolfe Research Jason Bednar - Piper Sandler & Co. Operator Good day, and welcome to the STERIS plc First Qu ...

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 March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-38848 STERIS plc (Exact name of registrant as specified in its charter) Ireland 98-1455064 (State or other jurisdiction ...

STERIS plc (NYSE:STE) Q4 2023 Earnings Conference Call May 11, 2023 9:00 AM ET Company Participants Julie Winter - IR Daniel Carestio - President and CEO Michael Tokich - SVP and CFO Conference Call Participants Matthew Mishan - KeyBanc Dave Turkaly - JMP Securities Mike Matson - Needham & Company Michael Polark - Wolfe Research Jason Bednar - Piper Sandler Operator Good morning and welcome to the STERIS plc Fourth Quarter 2023 Earnings Conference Call. [Operator Instructions] Please also note, this event i ...

STERIS plc (NYSE:STE) Q3 2023 Earnings Conference Call February 9, 2023 10:00 AM ET Company Participants Julie Winter - IR Daniel Carestio - President and CEO Michael Tokich - SVP and CFO Conference Call Participants Dave Turkaly - JMP Securities Matthew Mishan - KeyBanc Jacob Johnson - Stephens Mike Matson - Needham & Company Jason Bednar - Piper Sandler Michael Polark - Wolfe Research Matthew Mishan - KeyBanc Operator Good day, everyone, and welcome to the STERIS plc Third Quarter 2023 Conference Call. [O ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number 001-38848 STERIS plc (Exact name of registrant as specified in its charter) (State or other ju ...