Steris beats first-quarter estimates on strong demand for medical procedures
Aug 6 (Reuters) -Steris STE.N reported better-than-expected profit and revenue for the first quarter on Tuesday, as strong demand for non-urgent medical procedures lifted sales of its surgical and examination tools.
The Dublin, Ireland-based company, which offers devices such as surgical tables, examination lights and endoscope, has been seeing strong sales of its products since late last year as more people opt for surgical treatments that were deferred during the pandemic.
Steris' revenue was at $1.3 billion for the quarter ended June 30, compared with analysts' average estimate of $1.27 billion, according to LSEG data.
Its healthcare segment, the company's biggest by revenue, grew 10% during the period.
The company's adjusted profit was $2.03 per share, compared with the estimates of $1.98 per share.
Steris reiterated its adjusted earnings per share forecast for the fiscal 2025 in the range of $9.05 to $9.25. It also maintained its annual revenue growth projection of 6.5%-7.5%.
Reporting by Sruthi Narasimha Chari in Bengaluru; Editing by Shilpi Majumdar
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