HAE - Haemonetics Corporation (HAE) Q3 2024 Earnings Call Transcript

2024-02-08 12:24:09 ET

Haemonetics Corporation (HAE)

Q3 2024 Earnings Conference Call

February 08, 2024 8:00 AM ET

Company Participants

Olga Guyette – Senior Director-Investor Relations and Treasury

Chris Simon – Chief Executive Officer

James D'Arecca – Chief Financial Officer

Conference Call Participants

Andrew Cooper – Raymond James

Mike Matson – Needham & Company

David Turkaly – JMP securities

Presentation

Operator

Good day and thank you for standing by. Welcome to Haemonetics Corporation Third Quarter Fiscal 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please note that today's conference is being recorded.

I will now hand the conference over to your speaker host, Olga Guyette, Senior Director of Investor Relations and Treasury. Please go ahead.

Olga Guyette

Good morning, everyone. Thank you for joining us for Haemonetics third quarter fiscal year 2024 conference call and webcast. I'm joined today by Chris Simon, our CEO; and James D'Arecca, our CFO. This morning, we posted our third quarter fiscal year 2024 results to our Investor Relations website, along with our updated fiscal 2024 guidance. Before we begin just a quick reminder that all revenue growth rates discussed today are organic and exclude the impact of currency fluctuations and our recently completed acquisition of OpSens. We'll also refer to other non-GAAP financial measures to help investors understand Haemonetics' ongoing business performance.

Please note that these measures exclude certain charges and income items. For a full list of excluded items, reconciliations to our GAAP results and comparisons with the prior year periods please refer to our third quarter fiscal year 2024 earnings release available on our website. Our remarks today include forward-looking statements, and our actual results may differ materially from anticipated results. Factors that may cause our results to differ include those referenced in the safe harbor statement in today's earnings release and in our other SEC filings. We do not undertake any obligation to update these forward-looking statements.

And now I'd like to turn it over to Chris.

Chris Simon

Thanks, Olga. Good morning and thank you all for joining. Today, we reported third quarter revenue of $336 million, growth of 10% on a reported and organic basis, and adjusted earnings per diluted share of $1.04, 22% growth over prior year. Our results underscore our success in driving above-market growth while we are achieving critical milestones in our long-range plan to fuel the transformation of our company. Margin expansion through FY2024 foreshadows the compounding impact of changes in volume and mix, coupled with productivity and operating leverage. We are proud of our accomplishments and enthusiastic about the many opportunities to grow our business moving forward. Through portfolio evolution, operational excellence and resource allocation, we've strengthened our leadership in plasma while building our high-growth, high-margin hospital segment to expand our scale and leverage....

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