Total revenue from continuing operations increased 8%; constant currency organic revenue grew 6% As reported EPS from continuing operations increased to $1.41; adjusted EPS increased to $2.03 Fiscal 2025 outlook reiterated DUBLIN, IRELAND , Aug. 06, 2024 (GLOBE NEWSWIRE) -- STERIS plc (NYSE:STE) ("STERIS" or the "Company") today announced financial results for its fiscal 2025 first quarter ended June 30, 2024. Total revenue from continuing operations for the first quarter of fiscal 2025 increased 8% to $1.3 billion compared with $1.2 billion in the first quarter of fiscal 2024. Constant currency organic revenue from continuing operations for the first quarter increased 6%. "We are pleased with the start to our new fiscal year and continue to experience positive momentum across each of our segments," said Dan Carestio, President and CEO of STERIS. "With one quarter behind us, we are reiterating our outlook for fiscal 2025 and are confident in our ability to deliver on our full year guidance." First Quarter Results from Continuing OperationsAs reported, net income for the first quarter was $139.9 million or $1.41 per share, compared with net income of $130.6 million or $1.31 per diluted share in the first quarter of fiscal 2024. Adjusted net income for the first quarter of fiscal 2025 was $201.7 million or $2.03 per diluted share, compared with the previous year's first quarter of $182.5 million or $1.84 per diluted share.   Healthcare revenue as reported grew 10% in the quarter to $901.2 million compared with $818.9 million in the first quarter of fiscal 2024. This performance reflected 23% improvement in consumable revenue and 14% growth in service revenue, partially offset by a 10% decline in capital equipment revenue. Constant currency organic revenue increased 5% for the quarter compared with the prior year. Healthcare operating income was $216.9 million compared with $198.2 million in last year's first quarter. This improvement was primarily attributable to an increase in volume along with favorable pricing and the addition of the surgical instrumentation assets purchased from BD. Fiscal 2025 first quarter revenue for Applied Sterilization Technologies (AST) increased 7% as reported to $249.8 million compared with $233.1 million in the same period last year. This performance reflected 7% growth in service revenue and a 24% increase in capital equipment revenue. Constant currency organic revenue in the quarter increased 8%. Segment operating income was $117.7 million in the first quarter of fiscal 2025, compared with operating income of $109.6 million in the same period last year. Life Sciences first quarter revenue as reported decreased 2% to $128.5 million compared with $131.4 million in the first quarter of fiscal 2024, due to the divestiture of the CECS business on April 1, 2024, which was primarily service revenue. This performance reflected 13% growth in consumable revenue offset by a 15% decline in capital equipment revenue and 17% decline in service revenue.   Constant currency organic revenue increased 4% in the quarter compared with the prior year. Reflecting improvement in price and favorable mix, operating income increased to $52.6 million in the first quarter of fiscal 2025 compared with $49.8 million in the prior year's first quarter. Cash Flow Net cash provided by operations for the first quarter of fiscal 2025 was $303.7 million, compared with $281.1 million in fiscal 2024. Free cash flow for the first quarter of fiscal 2025 was $195.7 million compared with $214.5 million in the prior year period. The decrease in free cash flow during the period was driven primarily by the timing of capital spending. Fiscal 2025 Outlook ReiteratedFor 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. Conference Call As previously announced, STERIS management will host a conference call tomorrow, August 7, 2024 at 9:00 a.m. ET. The conference call can be heard at