STERIS Continues To Expect As Reported Revenue From Continuing Operations To Increase 6.5-7.5% In Fiscal 2025; Adjusted EPS To Be In The Range Of $9.05-$9.25 Vs $9.14 Est.

Author: Benzinga Newsdesk | August 06, 2024 04:33pm

Fiscal 2025 Outlook Reiterated

For fiscal 2025, the Company continues to expect as reported revenue from continuing operations to increase 6.5-7.5%. Based on forward rates through March 31, 2025, currency is expected to be neutral to revenue in fiscal 2025. Constant currency organic revenue from continuing operations is anticipated to increase 6-7%. In April 2024, the Company completed a divestiture of its Controlled Environment Services business within the Life Sciences segment. Total annual revenue for this business in fiscal 2024 was approximately $35 million which will be excluded from constant currency organic revenue growth from continuing operations in fiscal 2025. Adjusted earnings per diluted share from continuing operations is anticipated to be in the range of $9.05 to $9.25 compared with $8.20 in adjusted earnings from continuing operations in fiscal 2024. The fiscal 2025 outlook assumes an effective tax rate of approximately 23%. Capital expenditures are anticipated to be approximately $360 million and free cash flow is expected to be approximately $700 million.

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