STERIS Reports Q2 2027 Growth Driven by Life Sciences and Tariff Refunds
STERIS (STE) delivered strong second-quarter results, reporting total revenue of $1.6 billion, an 8% increase on a constant currency organic basis. The company's performance was bolstered significantly by its Life Sciences segment, which saw 18% organic revenue growth led by a 53% surge in capital equipment. Additionally, the company benefited from $20 million in tariff refunds, which aided adjusted gross margins and EBIT margins. Despite the strong top-line results, management noted some headwinds, including economic stress among North American customers and potential volatility due to deferred elective procedures. However, STERIS raised its full-year adjusted EPS guidance to a range of $11.35 to $11.55. The company is also undergoing a restructuring plan involving facility realignment, with anticipated total charges of $45 million.