STERIS(US:STE) Globenewswireยท2025-08-06 20:30Core Insights - STERIS plc reported a strong financial performance for the first quarter of fiscal 2026, with total revenue from continuing operations increasing by 9% to $1.4 billion compared to $1.3 billion in the same period last year [1][8] - The company experienced an adjusted net income of $231.2 million or $2.34 per diluted share, up from $201.7 million or $2.03 per diluted share in the previous year [2][8] Financial Performance - Total revenue from continuing operations increased by 9% to $1.4 billion, with constant currency organic revenue growth at 8% [1][9] - Net income from continuing operations was $177.4 million or $1.79 per diluted share, compared to $139.8 million or $1.41 per diluted share in the first quarter of fiscal 2025 [2][8] - Free cash flow for the first quarter was $326.5 million, an increase from $195.7 million in the prior year [6][10] Segment Performance - Healthcare revenue grew by 8% to $974.7 million, driven by a 13% increase in service revenue, 6% in capital equipment revenue, and 5% in consumable revenue [3][8] - Applied Sterilization Technologies (AST) revenue increased by 13% to $281.2 million, with a 46% rise in capital equipment revenue [4][8] - Life Sciences revenue rose by 5% to $135.2 million, supported by an 8% increase in consumable revenue [5][8] Outlook - The company updated its fiscal 2026 revenue outlook, now expecting an increase of 8-9% compared to previous expectations of 6-7% [9][10] - Adjusted earnings per diluted share are expected to remain in the range of $9.90 to $10.15, despite increased tariffs and higher employee healthcare costs [9][10] - Free cash flow is now anticipated to be approximately $820 million, up from prior expectations of $770 million [10] Board Changes - STERIS announced changes to its Board, with Dr. Jaqueline Kosecoff and Dr. Richard Steeves retiring, and Louis Shapiro being elected to the Board [7][9]