HAEMONETICS CORPORATION Reports FY2023 Q4 Earnings Results for March 31, 2023
May 27, 2023
Earnings Overview
On May 11 2023, HAEMONETICS CORPORATION ($NYSE:HAE) reported their FY2023 Q4 earnings results. Compared to the same quarter of the previous year, total revenue had increased by 14.9% to a total of USD 304.4 million. Net income for the fourth quarter had grown significantly, from USD 9.7 million to USD 29.4 million.
Share Price
On Thursday, HAEMONETICS CORPORATION reported its fourth quarter earnings results for the fiscal year 2023 for the period ending March 31, 2023. The stock opened at $82.3 and closed at $85.8, up by 3.3% from the last closing price of 83.1. This could be attributed to the strong financial performance of the company in this quarter, as it saw a surge in sales and revenue. The company also maintained a healthy balance sheet with robust cash flows. This was mainly driven by strong growth in its product offerings and services, as well as new customer acquisitions.
Gross profit margins also increased from the previous year, indicating that the company’s pricing strategy was successful. Overall, HAEMONETICS CORPORATION was able to deliver a strong financial performance in Q4 of FY2023, with increased sales and revenue, improved margins, and lower operating expenses. The strong results prompted investors to invest more in the company’s stock, sending it higher on Thursday and closing it at $85.8. 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 |
| 1.17k | 115.4 | 9.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Haemonetics Corporation. More…
| Operations | Investing | Financing |
| 273.06 | -143.79 | -100.36 |
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 |
| 1.93k | 1.12k | 16.21 |
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 |
| 5.7% | 0.4% | 13.4% |
| FCF Margin | ROE | ROA |
| 13.9% | 12.2% | 5.0% |
Analysis
As part of our analysis, we here at GoodWhale have taken a look at the wellbeing of HAEMONETICS CORPORATION. According to our Star Chart and classification system, HAEMONETICS CORPORATION is considered to be a ‘gorilla’; a company that has achieved stable and high revenue or earnings growth due to its strong competitive advantage. Given this classification, investors who are looking for a strong company that can generate reliable returns should take a closer look at HAEMONETICS CORPORATION. We have identified that it is strong in profitability, medium in asset, growth, and weak in dividend; however, its high health score of 9/10, considering its cashflows and debt, shows that it is capable of paying off debt and funding future operations. 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
HAEMONETICS CORPORATION recently reported their FY2023 Q4 earnings results, with total revenue up 14.9% year over year and net income nearly tripling from the previous year. This has been met with a positive response from investors, with the stock price rising on the news. This is a strong incentive to invest in this company, as it appears to be performing well and poised for further growth.
Analysts suggest looking into the company’s fundamentals, such as its balance sheet and cash flow statements, to get a better understanding of its financial health. With an upward trajectory and strong fundamentals, HAEMONETICS CORPORATION looks to be a promising investment opportunity.
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