Business
Sotera Health Reports Second-Quarter and First-Half 2023 Results
Q2 2023 net revenues of $255 million decreased 4%, compared to Q2 2022, primarily driven by expected Nordion Cobalt-60 harvest schedule timingQ2 2023 net
About this update from Sotera Health Company
[{"type":"text","content":"Q2 2023 net revenues of $255 million decreased 4%, compared to Q2 2022, primarily driven by expected Nordion Cobalt-60 harvest schedule timingQ2 2023 net income of $24 million or $0.08 per diluted share, compared to net income of $30 million or $0.11 per diluted share in Q2 2022Q2 2023 Adjusted EBITDA of $128 million decreased 6%, compared to Q2 2022, driven by expected Nordion Cobalt-60 harvest schedule timingQ2 2023 Adjusted EPS of $0.21 decreased $0.06 per diluted share, compared to Q2 2022 Total debt of $2.3 billion and net leverage ratio of 4.2x as of June 30, 2023Adjusting full-year 2023 net revenue outlook to $1.035 billion to $1.055 billion and Adjusted EBITDA to $520 million to $535 million CLEVELAND, Aug. 03, 2023 (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 and six months ended June 30, 2023. Second-quarter 2023 net revenues decreased 4.3% to $255 million, compared with $267 million in the second-quarter 2022. Net income was $24 million, or $0.08 per diluted share, compared with net income of $30 million, or $0.11 per diluted share in the second-quarter of 2022. Adjusted EBITDA for the second-quarter 2023 decreased 5.6% to $128 million compared to $136 million in the second-quarter 2022. Second-quarter 2023 Adjusted Earnings Per Diluted Share (“Adjusted EPS”) was $0.21, compared to $0.27 in the second quarter of 2022. Please refer to the section “Non-GAAP Financial Measures” provided later in this release. For the first six months of 2023, net revenues decreased 5.5% to $476 million, compared to $503 million for the same period in 2022. Net revenues decreased approximately 4.6% on a constant currency basis. Net income was $26 million, or $0.09 per diluted share for the first half of 2023, compared with net income of $61 million, or $0.22 per diluted share, for the same period last year. Adjusted EBITDA for the first half of 2023 decreased 9.8% to $227 million and Adjusted EPS decreased by $0.15 to $0.34 compared to the first half of 2022. Please refer to the section “Non-GAAP Financial Measures” provided later in this release. “The team has been working diligently to execute on our ...