STERIS plc (STE) Q1 2027 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for joining us today. Our fiscal 2027 earnings per share outlook is also unchanged at $11.10 to $11.30, growth of 9% to 11% over fiscal 2026. While the total cost of the North Carolina facility is anticipated to be $600 million, the impact on fiscal 2027 is expected to be approximately $75 million in additional capital spending. As a result, CapEx is now anticipated to be approximately $450 million in fiscal 2027. Free cash flow is now expected to be $800 million as the strong performance in the first quarter is helping to offset the additional CapEx spent for the year. For your modeling purposes, the investment in North Carolina will spread over the next three years. As of now, we expect the project to add approximately $350 million in capital spending into fiscal 2028 and the remaining $175 million in fiscal 2029. The project is in early phases of development and we will provide additional updates on timing as they become clear. Thank you to all of our associates for continuing to do what we do best, focusing on our customers and striving to do a little better each day. Thank you and that concludes our prepared remarks for the call. Operator, would you please give the instructions so we can begin the Q&A? Thank you. We will now begin the question and answer session. To ask a question, you may press star, then one on your touch-tone phone. If you are using a speakerphone, please pick up your handset before pressing the keys. If at any time your question has been addressed and you would like to withdraw your question, please press star, and then two. At this time, we'll pause momentarily to assemble the roster. The first question will come from Brett Fishpin with KeyBank Capital Markets. Please go ahead. Good morning, guys. Thank you so much for taking the ...