Sotera Health Q2 Results Top Estimates; Reaffirms FY24 Outlook

(RTTNews) - Sotera Health Co. (SHC) reported Monday that net income for the second quarter nearly doubled to $8.75 million or $0.03 per share from $23.51 million or $0.08 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $0.19 per share, compared to $0.20 per share in the year-ago quarter.

On average, eight analysts polled by Thomson Reuters expected the company to report earnings of $0.16 per share for the quarter. Analysts' estimates typically exclude special items.

Total net revenue for the quarter increased 8.3 percent to $276.59 million from $255.28 million in the same quarter last year. Net revenues were up 8.8 percent on a constant currency basis. Analysts expected revenues of $266.44 million for the quarter.

Looking ahead to fiscal 2024, the company continues to project adjusted earnings in a range of $0.67 to $0.75 per share on revenue growth of 4 to 6 percent. The Street is looking for earnings of $0.72 per share on revenues of $1.10 billion for the year.

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