May 11 (Reuters) – Medical equipment maker Steris forecast fiscal 2027 profit above Wall Street expectations on Monday, betting on strong demand for its sterilization services despite narrowly missing estimates for fourth-quarter adjusted profit.
For fiscal 2027, the company expects adjusted earnings per share of $11.10 to $11.30, above analysts’ average estimate of $11.10, according to data compiled by LSEG. It also expects annual revenue growth of 7% to 8%.
Steris, which sells infection-prevention products to hospitals and laboratories, posted a 7% rise in quarterly revenue to $1.6 billion, helped by higher procedure volumes and a diversified customer base. Analysts had estimated revenue of $1.59 billion for the quarter ended March 31.
It also authorized a new $1 billion share repurchase program.
Steris’ fourth-quarter adjusted profit came in at $2.83 per share, narrowly missing estimates of $2.85 per share.
Meanwhile, quarterly revenue from its largest Healthcare segment rose 7% to $1.14 billion, while revenue from its Applied Sterilization Technologies segment increased 6% to $289.2 million. Life Sciences revenue rose 9% to $162.9 million.
(Reporting by Sahil Pandey and Siddhi Mahatole in Bengaluru; Editing by Diti Pujara)
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