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STERIS (STE) investor relations material
STERIS Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue grew 9% year-over-year to $1.4 billion, driven by volume and pricing gains across all segments.
Gross margin improved to 45.3%, and EBIT margin rose to 22.8% of revenue.
Net income from continuing operations was $177.4 million, with adjusted EPS up 15% to $2.34.
Free cash flow reached $327M, supported by higher earnings and working capital improvements.
CFO transition announced, with Karen succeeding Mike Tokich, and board changes implemented.
Financial highlights
Service revenues grew 12.4%, consumables 5%, and capital equipment 5.5% year-over-year.
Gross profit increased to $628M, with gross margin at 45.2% and operating margin at 17.7%.
Adjusted effective tax rate was 23.5%, up due to geographic mix and discrete item changes.
Debt-to-total capital ratio improved to 21.5%; gross debt/EBITDA at 1.2x.
Dividend increased 10% to $0.63 per quarter, marking the 20th consecutive annual increase.
Outlook and guidance
FY26 reported revenue growth expected at 8–9%, with 200 bps FX benefit; constant currency organic growth at 6–7%.
Adjusted EPS guidance unchanged at $9.90–$10.15, reflecting $45M in tariff costs offset by FX.
Free cash flow outlook raised by $50M to $820M for FY26; CapEx guidance remains $375M.
Restructuring actions expected to improve income from operations by $25M annually starting FY26.
Effective tax rate expected to remain at 23.5%.
Next STERIS earnings date

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