Fisher & Paykel Healthcare (FPH) Trading update summary

Updated financial guidance

• Full-year operating revenue now expected to be approximately $2.30 billion, up from previous guidance of $2.17–$2.27 billion.

• Net profit after tax forecast raised to $450–$470 million, compared to prior range of $410–$460 million.

• Guidance based on 31 January 2026 exchange rates (NZD:USD 0.60).

• Updated figures do not include any potential refund of US tariffs paid during FY26.

Business performance and operational highlights

• Strong growth continues across the full range of Hospital products in the second half.

• Seasonal respiratory hospitalisations in the Northern Hemisphere may still impact results.

• Ongoing efficiency gains and continuous improvement activities are boosting gross and operating margins.

Tariff and regulatory developments

• US Supreme Court invalidated tariffs imposed under IEEPA, but implications for importers remain uncertain.

• Company is assessing the impact of court rulings, refund processes, and trade agreements.

• Update on tariff impacts will be provided with full-year results at the end of May.

• Current and proposed tariffs are not expected to materially affect long-term strategy or growth.