Steris reports Q3 adjusted EPS $2.02, consensus $2.19

Healthcare revenue as reported grew 1% in the quarter to $769.1 million compared with $759.7 million in the third quarter of fiscal 2022. "We delivered 7% constant currency organic revenue growth in a challenging environment," said Dan Carestio, President and Chief Executive Officer of STERIS. "We significantly improved capital equipment shipments for several key Healthcare products reflecting improved supply chain conditions. Some constraints remain for electronic components and other supply chain issues which, when combined with a reduction in the rate of growth for bioprocessing volumes, are impacting our performance for the third quarter and fiscal year. Challenges aside, we are encouraged by a modest improvement in procedures and significant capital equipment backlog in both Healthcare and Life Sciences. We anticipate continued supply chain improvements, which will aid in reducing our backlog and allow us to achieve more normal lead times for our Customers over the coming quarters."