STERIS (STE) Q2 Earnings Miss & Revenues Beat, Margins Up
Zacks Investment Research | Nov 01, 2017 10:32PM ET
STERIS plc (NYSE:STE) reported second-quarter fiscal 2018 adjusted earnings per share (EPS) of 94 cents, up 5.6% from the year-ago quarter. However, earnings missed the Zacks Consensus Estimate of 95 cents.
On a reported basis, EPS came in at 75 cents, up 59.6% year over year.
Revenues in Detail
STERIS generated revenues of $634.2 million, down 1.9% year over year. Meanwhile, the top line beat the Zacks Consensus Estimate of $630 million. The year-over-year decline was a result of sales loss owing to divested businesses. Organic revenue growth at constant currency was 4% year over year, primarily driven by balanced growth in two of the four segments.
The company operates through four segments: Healthcare Products, Healthcare Specialty Services, Applied Sterilization Technologies and Life Sciences.
Revenues from the Healthcare Products segment declined 2% year over year to $302.1 million in the reported quarter. This was largely due to an 8% decline in capital equipment revenues and a 1% decrease in consumable revenues as a result of divestitures, which in turn were partially offset by an 8% increase in service revenues.
STERIS PLC Price, Consensus and EPS Surprise
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