STERIS Announces Financial Results for Fiscal 2027 Second Quarter

(NYSE:STE) STERIS plc announced financial results for its fiscal 2027 second quarter ended September 30, 2026. Total revenue for the second quarter increased 9% to $1.6 billion compared with $1.5 billion in the second quarter of fiscal 2026. Constant currency organic revenue growth was 8% in the second quarter. Net income for the second quarter was $213.7 million, or $2.19 per diluted share, compared with $191.9 million, or $1.94 per diluted share, in the second quarter of fiscal 2026. Adjusted net income for the second quarter of fiscal 2027 was $286.8 million, or $2.94 per diluted share, compared with $244.5 million or $2.47 per diluted share in the previous year’s second quarter. The pre-tax impact of tariff refunds on as reported results was a benefit of approximately $20 million for the quarter. Gross tariff costs were flat with the prior year at $15 million for the quarter. Healthcare revenue as reported grew 9% in the second quarter to $1.1 billion compared with $1.0 billion in the second quarter of fiscal 2026. Healthcare segment performance reflected 10% improvement in service revenue, 10% growth in consumables revenue, and a 4% increase in capital equipment revenue. Constant currency organic revenue growth for Healthcare was 7%. Healthcare operating income was $269.2 million compared with $259.5 million in last year’s second quarter. Applied Sterilization Technologies (AST) revenue increased 5% as reported to $295.6 million compared with $281.5 million in the same period last year, with 5% growth in service revenue and a 21% decline in capital equipment revenue. Constant currency organic revenue growth for AST was 5%. AST segment operating income was $132.1 million in the second quarter of fiscal 2027, compared with $127.6 million in the same period last year. Life Sciences second quarter revenue as reported increased 18% to $170.6 million compared with $145.0 million in the second quarter of fiscal 2026, reflecting 53% growth in capital equipment revenue, 9% improvement in consumables revenue, and 5% growth in service revenue. Constant currency organic revenue for Life Sciences increased 18%. Life Sciences operating income increased to $75.8 million in the second quarter of fiscal 2027 compared with $59.9 million in the prior year’s second quarter. Net cash provided by operations for the first six months of fiscal 2027 was $656.1 million, compared with $707.8 million in the first six months of fiscal 2026. Free cash flow for the first six months of fiscal 2027 was $492.5 million compared with $527.7 million in the prior year period. During the quarter, the Company approved a separate targeted restructuring plan, in addition to the plan announced on August 5, 2026, including targeted facility realignment, product rationalization and select organizational realignment, primarily in the Healthcare segment. The Company anticipates total charges of approximately $45 million associated with the plan, including approximately $10 million in cash expenditures and $35 million in non-cash charges. Charges associated with the second quarter of fiscal 2027 are approximately $25 million. The plan is expected to generate annualized savings of approximately $9 million, with a portion realized in fiscal 2028 and the full benefit realized in subsequent fiscal years. The Company is updating its prior outlook for revenue and earnings for fiscal 2027. Expectations for consolidated revenue growth are unchanged and include as reported revenue growth of 7-8% and constant currency organic revenue growth of 6-7%. Adjusted earnings per diluted share are now anticipated to be in the range of $11.35 to $11.55, an increase from prior expectations of $11.10 to $11.30. The revised outlook includes the benefit of approximately $0.18 from tariff refunds received year-to-date. Segment constant currency organic revenue growth outlooks are: Healthcare 6-7% (unchanged), Applied Sterilization Technologies 6-7% (prior 7-8%), and Life Sciences 9-10% (prior 6-7%). STERIS will provide a revised fiscal 2027 outlook inclusive of the proposed Xodus Medical acquisition after closing. Dan Carestio, President and CEO of STERIS, stated that Life Sciences delivered particularly strong performance in the quarter, giving confidence to raise expectations for the segment for the full year.

STERIS Announces Dividend of $0.69 per share

(NYSE:STE) STERIS plc announced that it will distribute a quarterly dividend of $0.69 per share. The dividend will be payable on December 17, 2026. Shareholders of record at the close of business on November 17, 2026, will be eligible to receive the dividend. The announcement specifies the exact dividend amount and the relevant record and payment dates. The company refers to this as a quarterly dividend. No additional financial or operational figures are disclosed in this announcement. The notice does not mention any changes to dividend policy or provide commentary from company executives. No other projects, products, or business updates are included in this release. The announcement is limited to the dividend declaration and related dates.

Xodus Medical Announces Agreement to Be Acquired by STERIS (NYSE: STE)

(NYSE:STE) STERIS has entered into an agreement to acquire Xodus Medical, a developer and manufacturer of surgical safety solutions. The acquisition marks a significant milestone in Xodus Medical's more than 30-year history. Xodus Medical will become part of STERIS, a global provider of products and services focused on infection prevention and patient care. The transaction is expected to allow Xodus Medical to expand its reach and leverage complementary capabilities within STERIS. Both companies emphasize their shared commitment to advancing patient safety, supporting healthcare professionals, and delivering innovative solutions in the surgical environment. Craig Kaforey, Chief Executive Officer of Xodus Medical, stated that joining STERIS represents an exciting new chapter and an opportunity to build upon the company's accomplishments over the past three decades. STERIS is approximately $6 billion in revenue, with 18,000 Associates focused on providing innovative healthcare and life science products and services globally. Dan Carestio, President and Chief Executive Officer of STERIS, commented that Xodus Medical's product portfolio complements and expands STERIS's offering, particularly by adding consumables used in the operating room. Xodus Medical has demonstrated an ability to grow at double-digit rates with its specialty product portfolio, a steady stream of new products, and a highly effective commercial team. STERIS looks forward to welcoming the Xodus Medical team and working together to enhance service to customers and value for shareholders. Xodus Medical has remained focused on its mission of Making Surgery Safer™ throughout its history. The company believes joining STERIS will further strengthen its ability to support healthcare providers with differentiated solutions that enhance patient safety and improve surgical outcomes. Goldman Sachs & Co. LLC is serving as exclusive financial advisor to STERIS, and Jones Day is serving as legal counsel. J.P. Morgan is serving as exclusive financial advisor to Xodus Medical, and Morgan, Lewis & Bockius LLP is serving as legal counsel.

STERIS Expands Healthcare Consumables Offering with Definitive Agreement to Acquire Xodus Medical, a Specialty Surgical Products Business Focused on Patient and OR Staff Safety

(NYSE:STE) STERIS plc announced that its wholly owned subsidiary, STERIS Corporation, has signed a definitive agreement to acquire Xodus Medical, Inc. and certain related affiliates for $2.1 billion at closing. The transaction is expected to generate cash tax benefits with a net present value of approximately $300 million, resulting in a net purchase price of approximately $1.8 billion. The purchase price is subject to customary adjustments, and there is additional potential earnout consideration of up to $150 million based on the achievement of specified post-closing performance targets in calendar 2028. Xodus Medical's annual revenue in calendar 2026 is anticipated to be approximately $245 million, with adjusted EBIT of approximately $135 million. Xodus Medical’s projected operating income for the full calendar year ending December 31, 2026, is $121 million, adjusted for approximately $14 million of charges, substantially consisting of a royalty arrangement that was terminated during 2026. STERIS Corporation will acquire all the equity of Xodus Medical under the terms of the agreement. The transaction is expected to be financed primarily with debt and is anticipated to close by December 31, 2026, subject to customary closing conditions and regulatory approvals. STERIS will provide a revised fiscal 2027 outlook inclusive of Xodus Medical after closing. Dan Carestio, President and Chief Executive Officer of STERIS, stated that Xodus Medical’s product portfolio complements and expands STERIS’s offering, particularly by adding consumables used in the operating room, and aligns with STERIS’s mission to help customers create a healthier and safer world. Craig Kaforey, Chief Executive Officer of Xodus Medical, commented that joining STERIS marks an exciting new chapter for Xodus Medical and provides opportunities for professional growth for its employees. Goldman Sachs & Co. LLC is serving as exclusive financial advisor to STERIS, and Jones Day is serving as legal counsel. J.P. Morgan is serving as exclusive financial advisor to Xodus Medical, and Morgan, Lewis & Bockius LLP is serving as legal counsel.

STERIS Announces Financial Results for Fiscal 2027 First Quarter

(NYSE: STE) STERIS plc announced financial results for its fiscal 2027 first quarter ended June 30, 2026, reporting total revenue of $1.5 billion, a 7% increase compared with $1.4 billion in the first quarter of fiscal 2026. Net income for the first quarter was $200.1 million, or $2.04 per diluted share, up from $177.4 million, or $1.79 per diluted share, in the prior year period. Adjusted net income was $253.4 million, or $2.59 per diluted share, compared with $231.2 million, or $2.34 per diluted share, in the previous year’s first quarter. Healthcare segment revenue grew 8% to $1.05 billion, with service revenue up 10%, consumable revenue up 9%, and capital equipment revenue up 1%. STERIS announced a targeted restructuring plan associated with a new Formulated Chemistries Center of Excellence in North Carolina, with anticipated pre-tax restructuring charges of approximately $55 million to $70 million, including $40 million to $50 million of cash expenditures and $15 million to $20 million of non-cash charges. The company projects as reported revenue growth of 7-8% and constant currency organic revenue growth of 6-7% for fiscal 2027, with adjusted earnings per diluted share anticipated to be in the range of $11.10 to $11.30. Capital expenditures are now anticipated to be approximately $450 million, and free cash flow is expected to be approximately $800 million.

STERIS Raises Dividend to $0.69 per share

(NYSE: STE) STERIS plc announced that the Company will distribute a quarterly interim dividend of $0.69 per share. This represents a $0.06 increase in the dividend and marks the Company’s 21 st consecutive year of dividend growth. The dividend is payable on September 25, 2026, to shareholders of record at the close of business on September 4, 2026. Additional information about the U.S. tax treatment of dividends, including required Forms 8937, is available at www.steris-ir.com. STERIS is described as a leading global provider of products and services that support patient care with an emphasis on infection prevention. The Company cautions that this release may contain statements concerning certain trends, expectations, forecasts, estimates, or other forward-looking information affecting or relating to STERIS or its industry, products or activities. Many factors could cause actual results to differ materially from those in the forward-looking statements, including those identified in STERIS’s recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.

STERIS Announces Financial Results for Fiscal 2026 Fourth Quarter and Full Year

STERIS plc (NYSE: STE) reported strong financial results for fiscal 2026, with total revenue from continuing operations increasing 9% to $5.9 billion and constant currency organic revenue growth of 7%. Diluted EPS from continuing operations rose to $7.93, while adjusted EPS per diluted share increased to $10.17. The Board approved a new $1 billion share repurchase program. For fiscal 2027, the company expects as reported revenue to increase 7-8% and adjusted EPS to be in the range of $11.10 to $11.30. Capital expenditures are anticipated to be approximately $375 million, including a $60 million investment in a new manufacturing plant in Mentor, Ohio.

STERIS Announces Dividend of $0.63 per share

STERIS plc (NYSE: STE) announced that the Company will distribute a quarterly dividend of $0.63 per share. The dividend is payable on June 26, 2026, to shareholders of record at the close of business on June 8, 2026. Additional information about the U.S. tax treatment of dividends is available at www.steris-ir.com. STERIS describes itself as a leading global provider of products and services that support patient care with an emphasis on infection prevention. The announcement includes a cautionary statement regarding forward-looking information and potential risks.