Steris (STE) Tops Q3 EPS by 3c

Steris (NYSE: STE) reported Q3 EPS of $1.45, $0.03 better than the analyst estimate of $1.42. Revenue for the quarter came in at $774.3 million versus the consensus estimate of $748.45 million.

GUIDANCE:

Steris sees FY2020 EPS of $5.50-$5.65, versus the consensus of $5.57.

• Based on current performance and expectations for the full fiscal year, the Company is updating its prior outlook. Constant currency organic revenue growth is now expected to be approximately 9% compared with 7.5-8.5% previously. Reflecting December 31, 2019 forward rates, the Company now expects that currency movements will negatively impact as reported revenue by approximately $20 million in fiscal 2020. Adjusted earnings per diluted share are now anticipated to be at the high-end of the previously communicated range of $5.50 - $5.65.
• Capital spending is anticipated to be approximately $240 million and free cash flow is expected to be approximately $340 million, both updated to reflect the timing of capital projects.

For earnings history and earnings-related data on Steris (STE) click here.

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