The following is a summary of the Haemonetics Corporation (HAE) Q4 2024 Earnings Call Transcript:
Financial Performance:
Haemonetics Corporation saw an organic revenue growth of 10% in Q4 and 12% for the total fiscal 2024 year.
It reported adjusted earnings per diluted share of $0.90 in Q4 and $3.96 for the year, marking an increase of both 17% and 31% respectively.
The company's FY 2024 adjusted gross margin stood at 54.4%, an increase of 1.2% from the previous year.
The adjusted net income for 2024 grew by 31% to $203.6 million. With the same percentage increase, adjusted earnings per share reached to $3.96.
The adjusted income tax for FY '24 settled at 23%.
Business Progress:
Haemonetics restructured its revenue reporting, incorporating services into commercial business units, starting FY 2025.
The company successfully introduced Express Plus in a limited market release, leading to usage in over 60,000 real-world collections.
The company made notable progress in portfolio rationalization, prioritizing focus on global apheresis to improve the margin profile.
The acquisition of OpSens and Attune been announced to boost future growth.
For FY 2025, the company is projecting reported revenue growth to be in the range of 5% to 8%.
It expects gross savings of $15 million from their Operational Excellence Program, benefiting their adjusted operating margins by about $10 million in FY 2025.
Haemonetics is preparing for business expansion opportunities and share buybacks and debt repayment, intending to expand the product portfolio and increase returns.
It plans to accelerate the rollout of Express Plus, the NexSys device upgrade, pledging confidence in the premium innovation.
The company anticipates revenue growth from both plasma and hospital markets, notably due to high-margin products.
Departure of earnings from CSL, 10% of earnings, will gradually impact the margin dynamics linearly.
Market expansion particularly seen in Japan with over 90 accounts and a proactive approach to work through European markets.
More details: Haemonetics IR
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