On Tuesday, Steris (NYSE: STE) reported better-than-expected profit and revenue for the first quarter, as strong demand for non-urgent medical procedures lifted sales of its surgical and examination tools.
The Dublin, Ireland-based company, which offers devices such as surgical tables, examination lights, and endoscopes, has been seeing strong sales of its products since late last year as more people opt for surgical treatments that were deferred during the pandemic.
Steris’ revenue was at $1.3 billion for the quarter ended June 30, compared with analysts’ average estimate of $1.27 billion, according to LSEG data.
Its healthcare segment, the company’s biggest by revenue, grew 10% during the period.
The company’s adjusted profit was $2.03 per share, compared with the estimates of $1.98 per share.
Steris (NYSE: STE) reiterated its adjusted earnings per share forecast for the fiscal 2025 in the range of $9.05 to $9.25. It also maintained its annual revenue growth projection of 6.5%-7.5%.
(Source: Reuters)
Kevin Putnam is a financial journalist and editor based in New York. He specializes in editing news and analysis related to U.S. stock market.
