Core Insights - Haemonetics Corporation (HAE) reported third-quarter fiscal 2026 adjusted earnings per share (EPS) of $1.31, reflecting a year-over-year increase of 10.1% and exceeding the Zacks Consensus Estimate by 3.1% [1][9] - The company's revenues decreased by 2.7% to $339 million, which still surpassed the Zacks Consensus Estimate by 1.4% [2][9] Revenue Breakdown - Plasma segment revenues reached $138.9 million, up 3.5% year over year, with organic growth of 2.8%, driven by strong demand for immunoglobulin [3] - Blood Center revenues fell 19.6% to $56.6 million, although organic growth was 2.8%, supported by international Plasma demand [4] - Hospital revenues slightly decreased by 0.3% to $143.5 million, with a 0.9% decline on an organic basis [4] Margin Performance - Gross profit increased by 4.6% to $202.4 million, with gross margin expanding by 418 basis points to 59.7% due to an 11.9% decline in the cost of sales [6] - Operating profit rose to $79 million, compared to $71.3 million in the prior year, with an operating margin increase of 287 basis points to 23.3% [7][9] Financial Position - At the end of the third quarter, Haemonetics had cash and cash equivalents of $363.4 million, up from $296.4 million at the end of the previous quarter [8] - Long-term debt remained stable at $920 million, and cumulative net cash flow from operating activities increased to $222.3 million from $65.2 million a year ago [8] Guidance - The company now expects fiscal 2026 GAAP revenues to decline by 1-3%, with organic revenue growth anticipated in the range of 0-2% compared to fiscal 2025 [10] - Adjusted EPS guidance for full-year 2026 is set between $4.90 and $5.00, up from the previous range of $4.80 to $5.00 [11] Overall Assessment - Haemonetics demonstrated better-than-expected results in the fiscal third quarter, with earnings and revenues surpassing estimates despite a year-over-year revenue decline [12] - The performance highlights the strength of the company's core businesses, particularly in Blood Management Technologies and Plasma, while targeted actions are planned to improve Interventional Technologies [12][13]

Core Viewpoint - Haemonetics Corporation reported strong fourth-quarter fiscal 2025 results with adjusted EPS growth and revenue performance that exceeded estimates, reflecting effective execution of its long-term strategy and adaptation to market trends [11]. Financial Performance - The adjusted EPS for Q4 fiscal 2025 was $1.24, a 37.8% increase year over year, surpassing the Zacks Consensus Estimate by 1.6% [1] - Full-year fiscal 2025 adjusted EPS reached $4.57, up 15.4% year over year [1] - Revenues for Q4 decreased by 3.7% to $330.6 million, but still exceeded the Zacks Consensus Estimate by 1% [2] - Full-year fiscal 2025 revenues totaled $1.36 billion, reflecting a 4% year-over-year increase [2] Segment Performance - Plasma segment revenues were $126.7 million, accounting for 38.3% of total revenues, down 9.1% year over year due to lower sales volumes in North America [3] - Blood Center revenues fell 22.8% to $56 million, primarily due to Whole Blood portfolio rationalization [4] - Hospital segment revenues increased by 12.2% to $147.9 million, driven by new product lines and growth in vascular closure and Blood Management Technologies [5] Margin and Operating Performance - Adjusted gross margin for Q4 was 58.4%, up 715 basis points year over year, attributed to volume growth and pricing benefits [6] - Adjusted operating income was $61.8 million, a 60.9% increase year over year, with an adjusted operating margin of 18.7%, up 751 basis points [7] Financial Position - Cash and cash equivalents at the end of Q4 were $306.8 million, up from $178.8 million a year ago, while long-term debt increased to $921.2 million from $797.6 million [8] - Cumulative net cash flow from operating activities was $181.7 million, remaining flat year over year [9] Future Guidance - For fiscal 2026, the company expects GAAP revenues to decline by 3-6%, with organic revenues anticipated to range from negative 2% to positive 1% compared to fiscal 2024 [10] - Full-year 2026 adjusted EPS is projected to be between $4.70 and $5.00, with the Zacks Consensus Estimate at $4.98 [10]