Sotera Health Company ( (SHC) ) has released its Q3 earnings. Here is a breakdown of the information Sotera Health Company presented to its investors.
Sotera Health Company is a global leader in providing essential sterilization solutions, lab testing, and advisory services within the healthcare sector. The company operates through three main businesses: Sterigenics, Nordion, and Nelson Labs, with a commitment to safeguarding global health.
In a recently released earnings report, Sotera Health announced a positive financial performance for the third quarter of 2024, with net revenues reaching $285 million, marking an 8.5% increase compared to the same period in 2023. The company also reported a net income of $17 million, a significant turnaround from a net loss of $14 million in the previous year, and reaffirmed its 2024 outlook for net revenue and adjusted EBITDA.
Key financial highlights include a 9.0% increase in adjusted EBITDA to $146 million and an increase in adjusted earnings per share to $0.17. The company saw robust growth in its Nordion segment, with a 28.0% increase in net revenues and a 31.9% rise in segment income. Nelson Labs also experienced growth, with a 7.0% increase in net revenues. Overall, Sotera Health’s performance was bolstered by favorable pricing and volume, despite challenges such as unfavorable foreign currency exchange rates.
Looking ahead, Sotera Health maintains its positive outlook for 2024, expecting continued growth in net revenues and adjusted EBITDA. The company remains focused on strategic initiatives, including hosting its first investor day to discuss future growth plans and its ongoing commitment to safeguarding global health.
