Haemonetics Q1 Profit Slips, Despite Revenue Growth, Reaffirms FY25 Adj. EPS, Revenue Range

(RTTNews) - Haemonetics Corp. (HAE) Thursday announced a 6.5 percent decline in first quarter earnings, despite an 8 percent increase in revenue, compared to the prior year.

The quarterly earnings were $38.37 million or $0.74 per share, down from $41.04 million or $0.80 per share last year. On an adjusted basis, earnings were $1.02 per share.

The amortization of fair value inventory step-up related to the Attune Medical acquisition, restructuring costs, and higher Operating expenses impacted the decline of profit.

On average, 7 analysts polled by Thomson Reuters expected the company to earn $1 per share. Analysts estimte usually exclude special items.

Revenue for the first quarter came in to $336.17 million, from $311.33 million a year ago. Wall Street were looking for $335.38 million.

Looking ahead to the fiscal 2025, the company reaffirmed adjusted earnings per share guidance in a range of $4.45-$4.75 per share. Total revenue guidance is affirmed in a range of 5-8 percent. Analysts expect the fiscal earnings of $4.6 per share on revenue of $1.4 billion.