Haemonetics (HAE) Q3 2026 earnings summary

Executive summary

• Delivered strong Q3 results with revenue of $339M, down 2.7% year-over-year, but with improved gross margin and net income; year-to-date revenue was $988M.

• Adjusted EPS rose 10% to $1.31 in Q3, and diluted EPS was $0.95, up 28.4% year-over-year.

• Free cash flow increased 151% year-over-year to $74.2M in Q3, with cash on hand at $363M.

• Portfolio transformation, operational discipline, and innovation in NexSys and TEG supported margin expansion and cash flow improvement.

• Strategic acquisitions, including Vivasure Medical, and share repurchases strengthened the portfolio and capital allocation.

Financial highlights

• Q3 revenue: $339M; YTD revenue: $988M; Q3 gross margin: 59.7% (up 420 bps); adjusted gross margin: 60.2% (up 250 bps).

• Adjusted EPS up 10% in Q3 to $1.31; diluted EPS $0.95, up 28.4%; adjusted net income up 2% to $61M.

• Q3 operating income was $67.4M (19.9% margin), up from $59.0M (16.9%) last year; adjusted operating margin 26.3%.

• Free cash flow for Q3 was $74.2M, up from $29.6M a year ago; YTD free cash flow $165M.

• Cash and cash equivalents at quarter-end were $363M; net leverage ratio improved to 2.37x EBITDA.

Outlook and guidance

• Full-year reported revenue guidance improved to a decline of 1%-3%; organic revenue guidance at 0-2%.

• Organic revenue ex-CSL guidance raised to 8%-10% growth; Plasma segment organic ex-CSL growth guidance raised to 17–19%.

• Adjusted EPS guidance for FY26: $4.90-$5.00; adjusted operating margin expected at 26%-27%.

• Free cash flow guidance raised to $200-220M for FY26; conversion expected to exceed 80%.

• $300M in convertible notes due March 2026 to be settled with cash and credit facility.