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STERIS plc (Ireland) (STE-0.31%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports a revenue increase of 5.6% to $1,370.6 million for the three months ended December 31, 2024, compared to $1,297.7 million for the same period in the prior year. The increase is attributed to higher volume and pricing.
Service revenues for the quarter increased by 10.4%, while consumable revenues rose by 9.6%. However, capital equipment revenues decreased by 8.2% compared to the same period in the previous year.
Gross profit for the quarter was $610.3 million, compared to $560.0 million in the previous year. The gross profit percentage increased to 44.5% from 43.2%, reflecting favorable impacts from pricing, mix, and productivity.
Operating expenses for the quarter totaled $365.0 million, an increase from $333.6 million in the prior year. This includes selling, general, and administrative expenses of $335.5 million, up from $308.3 million.
Income from operations for the quarter was $245.3 million, compared to $226.5 million in the previous year. The increase is primarily due to increased volume and pricing, offset by higher labor costs and restructuring expenses.
Net income for the quarter was $173.3 million, compared to $140.9 million in the previous year. The effective income tax rate for the quarter was 24.2%, up from 21.6% in the previous year.
Cash provided by operating activities was $887.3 million for the first nine months of fiscal 2025, compared to $718.5 million in the previous year. Free cash flow was $588.1 million, up from $457.0 million.
The filing also details the divestiture of the Dental segment and the acquisition of assets from Becton, Dickinson and Company, which were integrated into the Healthcare segment.
STERIS continues to focus on its three reportable business segments: Healthcare, Applied Sterilization Technologies (AST), and Life Sciences, following the divestiture of its Dental segment.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the STERIS plc (Ireland) quarterly 10-Q report dated February 7, 2025. To report an error, please email earnings@qz.com.