Haemonetics Q3 Profit Beats Estimates, Organic Revenue Down 0.8%; Updates FY22 Guidance

(RTTNews) - Haemonetics Corp. (HAE) reported third-quarter adjusted profit per share of $0.84 compared to $0.81, prior 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.

Net profit was $23.2 million or $0.45 per share compared to $31.9 million or $0.62 per share, last year. Revenue increased to $259.77 million from $240.37 million, a year ago. Analysts on average had estimated $266.74 million in revenue. Organic revenue was down 0.8%. For fiscal 2022, the company updated its GAAP total revenue growth guidance to 12 - 14%, from 13 - 17%. Current organic guidance is 5 - 7%, revised from previous guidance range of 7 - 10%. Adjusted earnings per share is now projected in a range of $2.45 - $2.55, revised from prior guidance range of $2.40 - $2.65. Analysts expect the company to report profit per share of $2.53.