STERIS PLC Reports 11.8% Increase in Total Revenue for Q2 FY2024

☀️Earnings Overview

On September 30th 2023, STERIS PLC ($NYSE:STE) announced their second quarter earnings of FY2024, which saw a total revenue of USD 1342.4 million, an 11.8% growth from the same quarter of the previous year. Net income also increased significantly by 136.6%, to a total of USD 115.3 million.

Analysis

GoodWhale has analyzed STERIS PLC‘s financials and determined that it is strong in growth and profitability, yet weak in asset and dividend. STERIS PLC achieved a high health score of 8/10, indicating that it is able to pay off debt and fund future operations. Furthermore, STERIS PLC is classified as a ‘gorilla’, which are companies that have achieved a steady and high revenue or earnings growth due to a strong competitive advantage. The type of investors who may be interested in such a company includes those looking for reliable, long-term returns on their investments. These investors may be seeking the potential for capital appreciation or income from dividends. Furthermore, they may be interested in the company’s strong competitive advantage that enables them to maintain their high revenue and earnings growth over time. Additionally, those with a low-risk tolerance may be attracted to the company’s strong cash flows and debt health score as indicators of the company’s financial stability. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Steris Plc. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Steris Plc. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Steris Plc. More…

Key Ratios Snapshot

Some of the financial key ratios for Steris Plc are shown below. More…

Peers

The company’s main competitors are Fonar Corp, Stryker Corp, and Dynatronics Corp.

– Fonar Corp ($NASDAQ:FONR)

Fonar Corporation is a holding company, which engages in the design, manufacture, sale, and service of magnetic resonance imaging (MRI) scanners. It operates through the following segments: Upright Multi-Position MRI; Stand-Up MRI; and Recurring Revenue. The Upright Multi-Position MRI segment designs, manufactures, and sells Upright Multi-Position MRI scanners. The Stand-Up MRI segment designs, manufactures, sells, and services Stand-Up MRI scanners. The Recurring Revenue segment provides service contracts, technical support, and parts sales. The company was founded by Stanley C. Krulick in 1978 and is headquartered in Melville, NY.

– Stryker Corp ($NYSE:SYK)

Stryker Corporation is one of the world’s leading medical technology companies. It offers a wide range of medical devices and services, including orthopedics, neurotechnology, and medical imaging. It has more than 87,000 employees worldwide.

– Dynatronics Corp ($NASDAQ:DYNT)

Dynatronics Corp is a medical device company that manufactures and markets physical therapy products and solutions. The company’s products are used by physical therapists, occupational therapists, athletic trainers, and other healthcare professionals. Dynatronics Corp has a market cap of 8.73M as of 2022, a Return on Equity of -10.7%. The company’s products are sold in the United States and internationally.

Summary

STERIS PLC, a leading provider of healthcare and life sciences products and services, has recorded impressive financial results for the second quarter of FY2024. Total revenue increased by 11.8% to USD 1342.4 million, while net income jumped by 136.6% to USD 115.3 million. These results suggest that STERIS PLC is currently performing well and could be a lucrative investment opportunity for investors.

The company’s strong financial performance is supported by its innovative product portfolio and expanding customer base. Investors should keep an eye on STERIS PLC and consider investing in the company as it continues to show strong growth and profitability.