Haemonetics (HAE) Q1 2027 earnings summary

Executive summary

• First quarter FY27 revenue reached $339.4 million, up 5.6% year-over-year (5.9% organic), with all core platforms—MedSurg, Apheresis, and Interventional Technologies—contributing to growth.

• Adjusted EPS rose 4% to $1.14, while GAAP EPS was $0.72; net income was $33.0 million, impacted by a higher tax rate.

• Board expanded with Dr. Martin Madaus, and the company completed an organizational realignment into two global segments.

• Raised full-year FY27 guidance for both reported and organic revenue growth following strong Q1 performance.

• Strong cash generation enabled $100 million repayment on the revolving credit facility and continued innovation momentum.

Financial highlights

• Gross margin was 59.8% (adjusted 60.4%), down 40 bps year-over-year; operating income rose 6.7% to $57.5 million.

• Operating expenses rose 7% to $126 million, mainly from higher personnel costs, acquisition impacts, and freight.

• Adjusted operating margin was 23.4%, down 70 bps year-over-year but improved after normalizing for software revenue.

• Cash and cash equivalents stood at $223.4 million at quarter-end; operating cash flow was $52.3 million, up from $17.4 million prior year.

• Free cash flow conversion reached 75% of adjusted net income for the quarter and 106% on a trailing 12-month basis.

Outlook and guidance

• FY27 reported revenue growth guidance raised to 5–8%, organic growth to 4–7%.

• Adjusted operating margin expected to expand 50–100 bps for FY27; free cash flow conversion guidance reaffirmed at ~80%.

• Apheresis revenue guidance increased to low- to mid-single digit growth; MedSurg remains mid-single digit.

• Guidance for plasma collection volume remains at 0–2% growth, despite robust Q1 trends.