Medical equipment and services company Steris (NYSE: STE) will be announcing earnings results this Wednesday after the bell. Here’s what you need to know.
STERIS met analysts’ revenue expectations last quarter, reporting revenues of $1.59 billion, up 7.3% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ full-year EPS guidance estimates but a miss of analysts’ EPS estimates.
Is STERIS a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting STERIS’s revenue to grow 7.5% year on year, slowing from the 8.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. STERIS has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at STERIS’s peers in the healthcare equipment and supplies segment, some have already reported their Q2 results, giving us a hint as to what we can expect. CONMED posted flat year-on-year revenue, beating analysts’ expectations by 1.8%, and Baxter reported revenues up 5.3%, topping estimates by 6%. CONMED traded up 8.7% following the results while Baxter was also up 5.6%.
Read our full analysis of CONMED’s results here and Baxter’s results here.
Investors in the healthcare equipment and supplies segment have had steady hands going into earnings, with share prices up 1.9% on average over the last month. STERIS is up 10.5% during the same time and is heading into earnings with an average analyst price target of $255.38 (compared to the current share price of $235.59).
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