STERIS Q3 Profit Up

(RTTNews) - STERIS plc (STE) Monday reported third-quarter net income of $104.9 million or $1.23 per share, up from $47.9 million or $0.56 per share last year.

Adjusted earnings were $124.0 million or $1.45 per share, up from $107.2 million or $1.26 per share last year.

Revenues for the quarter increased 11% to $774.3 million from $696.2 million last year, with growth across all segments.

Analysts polled by Thomson Reuters estimated earnings of $1.42 per share and revenues of $748.45 million.

"Our performance this year has continued to exceed our expectations," said Walt Rosebrough, President and Chief Executive Officer of STERIS. "Underlying Customer demand for our products and services remains strong. Based on our outperformance to date and expectations for the fourth quarter, we are increasing our guidance for revenue, earnings and cash flow for the full fiscal year."

Looking forward to full year 2020, Steris expects adjusted earnings to be at the high-end of previously expected range of $5.50 - $5.65 per share. Analysts currently estimate earning of $5.57 per share.