Business
Sotera Health Reports First-Quarter 2022 Results
Q1 2022 net revenues of $237 million increased 12%, compared to Q1 2021Q1 2022 net income of $31 million or $0.11 per diluted share, compared to net income of
About this update from Sotera Health Company
[{"type":"text","content":"Q1 2022 net revenues of $237 million increased 12%, compared to Q1 2021Q1 2022 net income of $31 million or $0.11 per diluted share, compared to net income of $11 million or $0.04 per diluted share in Q1 2021Q1 2022 Adjusted EBITDA of $115 million increased 10%, compared to Q1 2021Q1 2022 Adjusted EPS of $0.22 improved by $0.04 per diluted share, compared to Q1 2021March 31, 2022 total debt of $1.79 billion and net leverage ratio improved to 3.4xCompany reaffirms 2022 outlook CLEVELAND, May 05, 2022 (GLOBE NEWSWIRE) -- Sotera Health Company (“Sotera Health” or the “Company”) (Nasdaq: SHC), a leading global provider of mission-critical end-to-end sterilization solutions, lab testing and advisory services for the healthcare industry, today announced financial results for the three months ended March 31, 2022. First-quarter 2022 net revenues increased 12% to $237 million, compared with $212 million in the first quarter a year ago. Net income attributable to Sotera Health (“net income”) was $31 million, or $0.11 per diluted share, compared with net income of $11 million, or $0.04 per diluted share in the first-quarter 2021. Adjusted EBITDA for the first-quarter 2022 increased by 10% over the prior-year quarter to $115 million. First-quarter 2022 Adjusted Earnings Per Diluted Share (“Adjusted EPS”) was $0.22, compared to $0.18 in Q1 2021, an increase of $0.04 per diluted share. Please refer to the section “Non-GAAP Financial Measures” provided later in this release. “We are off to a good start in 2022, delivering another consecutive quarter of double-digit top-line and bottom-line growth as compared to the same prior year quarter,” said Chairman and Chief Executive Officer, Michael B. Petras, Jr. “We are pleased with the first-quarter performance as we navigated through the Omicron surge and the current geopolitical landscape. We continue to focus on execution while strategically building out capacity to satisfy future demand.” Petras continued, “Given our performance to date, we are reaffirming the 2022 financial outlook that we first provided on March 1, 2022. We remain focused on supporting our global team members and customers while delivering on our mission of Safeguarding Global Health®.” First-Quarter Review by Business Segment Sterigenics For first-quarter 2022, Sterigenics net revenues were $149 million, an increase of 14.0%...