Steris (STE) Tops Q2 EPS by 21c, Revenues Beat

Steris (NYSE: STE) reported Q2 EPS of $1.48, $0.21 better than the analyst estimate of $1.27. Revenue for the quarter came in at $756.1 million versus the consensus estimate of $722.87 million.

• Second quarter revenue increases 3% as reported; 2% constant currency organic
• Second quarter earnings per diluted share increase to $1.23 on a U.S. GAAP basis and $1.48 on an adjusted basis
• Increased cash flow driven by net income growth and working capital improvements

“Our second quarter results demonstrate the resilience of our business and the good work by STERIS Associates,” said Walt Rosebrough, President and Chief Executive Officer of STERIS. “Our revenue growth reflects the improvement in procedure volumes during the quarter as well as continued strength in segments with exposure to COVID-19 related products and services. Although our first half performance has exceeded our expectations, due to the continued uncertainty surrounding COVID-19, we are not providing guidance at this time.”

For earnings history and earnings-related data on Steris (STE) click here.

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