Haemonetics Corporation Reports Earnings Results for FY2024 Q1 as of June 30 2023
August 14, 2023
🌥️Earnings Overview
On August 8 2023, HAEMONETICS CORPORATION ($NYSE:HAE) reported their financial results for the first quarter of FY2024, ending June 30 2023. Total revenue for the quarter was USD 311.3 million, representing a 19.1% growth compared to the same period of last year. Moreover, the company’s net income amounted to USD 41.0 million, up 106.4% from the first quarter of FY2023.
Price History
On Tuesday, HAEMONETICS CORPORATION reported its earnings results for the first quarter of FY2024, ending June 30, 2023. The company’s stock opened at $94.6 and closed at $89.9, up 1.5% from the previous closing price of $88.6. The announcement was well-received by investors, as the stock was up on the day despite a turbulent market. This is a strong sign of faith in the company’s potential, as well as its long-term prospects and strategic plan.
Overall, these numbers demonstrate HAEMONETICS CORPORATION’s commitment to providing value for its shareholders. The company is well-positioned to continue delivering strong financial results in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Haemonetics Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 1.22k | 136.57 | 11.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Haemonetics Corporation. More…
| Operations | Investing | Financing |
| 250.15 | -100.83 | -77.57 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Haemonetics Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.96k | 1.1k | 17.05 |
Key Ratios Snapshot
Some of the financial key ratios for Haemonetics Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.8% | 10.8% | 14.7% |
| FCF Margin | ROE | ROA |
| 14.4% | 13.3% | 5.7% |
Analysis
At GoodWhale, we have conducted an analysis of HAEMONETICS CORPORATION‘s financials. Our risk rating system indicates that HAEMONETICS CORPORATION is a high risk investment in terms of financial and business aspects. In fact, our system has detected 3 risk warnings within the income sheet, balance sheet and non-financial elements. To get a better idea of these warnings, we recommend you to register to GoodWhale.com and check out the details for yourself. More…
Peers
The company has a wide range of products, including plasma collection systems, platelet and plasma pheresis systems, and whole blood collection systems. Haemonetics Corp. also provides services related to blood and plasma collection, such as plasma processing and storage, platelet and white blood cell processing, and whole blood processing. The company has a strong presence in the United States, Europe, Asia, and Australia. Merit Medical Systems Inc, Lagis Enterprise Co Ltd, StatSure Diagnostic Systems Inc are some of the major competitors of Haemonetics Corp.
– Merit Medical Systems Inc ($NASDAQ:MMSI)
Medtronic is a medical device company that develops and manufactures a wide range of products, from pacemakers to artificial hearts. The company has a market cap of $3.9 billion and a return on equity of 4.51%. Medtronic’s products are used by millions of people around the world, and the company is a leading provider of medical devices and services.
– Lagis Enterprise Co Ltd ($TPEX:6730)
Lagis Enterprise Co Ltd is a publicly traded company with a market capitalization of 1.02 billion as of 2022. The company has a return on equity of 12.12%. Lagis Enterprise Co Ltd is a diversified holding company that operates in a variety of industries, including construction, real estate, hospitality, and retail. The company has a strong presence in Taiwan and China, and its products and services are also available in North America, Europe, and Asia.
– StatSure Diagnostic Systems Inc ($OTCPK:SSUR)
StatSure Diagnostic Systems Inc is a company that manufactures and sells diagnostic products and services. The company has a market cap of 107.06k as of 2022 and a Return on Equity of 15.2%. The company’s products and services are used by healthcare professionals to diagnose and treat patients.
Summary
Investors should be encouraged by the strong performance of HAEMONETICS CORPORATION in the first quarter of FY2024. Total revenue was up 19.1%, with net income increasing 106.4%. This suggests the company is well-positioned to deliver good returns in the coming months.
The positive results demonstrate HAEMONETICS’ ability to manage expenses and capitalize on growth opportunities. With these fundamentals in place, investors should feel confident in investing in the company.
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