Haemonetics Updates FY24 Adj. EPS Guidance

(RTTNews) - Haemonetics (HAE) said, for fiscal 2024, the company reaffirmed adjusted operating margin guidance and updated its adjusted earnings per share guidance and free cash flow before restructuring and restructuring related costs guidance. Adjusted earnings per share is now projected in a range of $3.60 - $3.90, revised from prior guidance range of $3.45 - $3.75. Organic revenue growth is now projected in a range of 7 - 10%, revised from previous guidance range of 5 - 8%.

First quarter net income and earnings per share were $41.0 million and $0.80, compared to $19.9 million and $0.38, a year ago. Adjusted earnings per share was $1.05, up 81.0%, from last year. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.73, for the quarter. Analysts' estimates typically exclude special items.

First quarter revenue was $311.3 million, up 19.1% compared with the first quarter of fiscal 2023. Organic revenue was up 20.5%, for the quarter. Analysts on average had estimated $292.69 million in revenue.

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