Haemonetics Corp (NYSE:HAE)
$ 74.98 1.45 (1.97%) Market Cap: 3.84 Bil Enterprise Value: 4.64 Bil PE Ratio: 33.62 PB Ratio: 4.24 GF Score: 80/100
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Q1 2025 Haemonetics Corp Earnings Call Transcript

Aug 08, 2024 / 12:00PM GMT
Release Date Price: $76.43 (-10.84%)

Key Points

Positve
  • Haemonetics Corp (HAE) reported first quarter revenue of $336 million, reflecting an 8% growth on a reported basis.
  • The company achieved 68% revenue growth on a reported basis and 19% organic growth in its interventional franchise.
  • Haemonetics Corp (HAE) reaffirmed its Plasma revenue growth guidance for FY 2025, indicating confidence in its strategic direction.
  • The company successfully launched new products and continued to integrate acquisitions, contributing to higher margins.
  • Haemonetics Corp (HAE) ended the first quarter with an adjusted gross margin of 55.3%, up 110 basis points from last year.
Negative
  • Plasma revenue declined 3% in the first quarter after growing 35% last year, indicating a slowdown in this segment.
  • North America disposables revenue was down 5%, driven by CSL's planned transition.
  • Adjusted earnings per diluted share decreased by 3% compared to the strong first quarter of the prior year.
  • The adjusted operating margin was down 150 basis points compared with a very strong quarter last year.
  • The company faced geopolitical challenges, particularly in China, impacting its performance in that region.
Operator

Thank you for standing by, and welcome to Haemonetics Corporation's first quarter fiscal year 2025 earnings conference call. (Operator Instructions)

I would now like to hand the call over to Olga Guyette, Vice President, Investor Relations and Treasury. Please go ahead.

Olga Guyette
Haemonetics Corp - Vice President, Investor Relations and Treasury

Good morning, everyone. Thank you for joining us for Haemonetics' first quarter fiscal year 2025 conference call and webcast. I'm joined today by Chris Simon, our CEO; and James C. DâArecca, our CFO. This morning, we posted our first quarter fiscal year 2025 results to our Investor Relations website, along with our fiscal '25 guidance.

Before we begin, a quick reminder that all revenue growth rates discussed today are organic unless specified otherwise and exclude the impact of currency fluctuation and acquisitions.

Our organic revenue growth guidance for fiscal year 2025 incorporates 15 weeks of revenue from offsets due to the acquisition closing date being in December 2023. We'll also

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