NASDAQ$SHC
Sotera Health Company · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Sotera Health's financial performance was impacted by Nordion Cobalt-60 harvest schedule timing and volume softness at Sterigenics and Nelson Labs.
Sotera Health reported a decrease in second-quarter net revenues by 4% to $255 million, primarily due to Nordion Cobalt-60 harvest schedule timing. Net income decreased to $24 million, or $0.08 per diluted share. The company has adjusted its full-year 2023 net revenue outlook to $1.035 billion to $1.055 billion and Adjusted EBITDA to $520 million to $535 million due to continued volume softness.
- Q2 2023 net revenues decreased 4% to $255 million, driven by Nordion Cobalt-60 harvest schedule timing.
- Q2 2023 net income decreased to $24 million, or $0.08 per diluted share.
- Adjusted EBITDA for Q2 2023 decreased 6% to $128 million, impacted by Nordion Cobalt-60 timing.
- Full-year 2023 net revenue outlook adjusted to $1.035 billion to $1.055 billion and Adjusted EBITDA to $520 million to $535 million.
Headline financials
Revenue & EPS history
Sotera Health · Revenue · Quarterly
$255M
Revenue by segment
Sotera Health · $255M total across 3 segments · Q2 2023
- Sterigenics$167M+5.6%65.3%
- Nelson Labs$56.7M-2.8%22.2%
- Nordion$32M-36.7%12.5%
Forward guidance
Sotera Health is updating its 2023 outlook. Net revenues are expected to be in the range of $1.035 to $1.055 billion, and Adjusted EBITDA in the range of $520 to $535 million.
Tailwinds
- Net revenues in the range of $1.035 to $1.055 billion, representing growth of approximately 3% to 5%, compared to the prior year
- Adjusted EBITDA in the range of $520 to $535 million, representing growth of approximately 3% to 6%, compared to the prior year
- Tax rate applicable to Adjusted Net Income in the range of 30% to 32%
- Adjusted EPS remains in the range of $0.78 to $0.86
- 2023 year-end Net Leverage Ratio expected to end the year at or below 4.0x
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
-2.7%
Avg return
Earnings day
-3.0%
Avg return
5 days after
-2.4%
Avg return
30 days after
25%
6 / 24 earnings
Positive
+11.2%
Q2 2024
Best reaction
-15.9%
Q3 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.3% | +2.6% | +1.2% | |
| Q4 2025 | -0.5% | -7.1% | -22.6% | |
| Q3 2025 | -1.1% | -5.6% | -0.3% | |
| Q1 2025 | +5.2% | +11.7% | +6.4% | |
| Q4 2024 | -10.0% | -15.9% | -13.7% | |
| Q3 2024 | +2.0% | +1.8% | -17.9% | |
| Q2 2024 | +11.2% | +10.1% | +16.6% | |
| Q1 2024 | -2.2% | +1.8% | -0.8% | |
| Q4 2023 | -12.3% | -14.7% | -29.6% | |
| Q3 2023 | +1.2% | +5.8% | +10.6% | |
| Q2 2023 | -3.7% | -7.1% | -13.4% | |
| Q1 2023 | -7.5% | -7.9% | -9.2% | |
| Q4 2022 | -0.5% | +3.9% | +2.0% | |
| Q3 2022 | -10.6% | -7.7% | +28.6% | |
| Q2 2022 | +2.1% | +4.2% | -6.7% | |
| Q1 2022 | -2.8% | -5.4% | +3.7% | |
| Q4 2021 | -8.4% | -11.4% | -1.0% | |
| Q4 2019 | -8.4% | -11.4% | -1.0% | |
| Q3 2021 | -15.9% | -13.7% | -20.0% | |
| Q2 2021 | -0.7% | -6.3% | +1.0% | |
| Q2 2020 | -0.7% | -6.3% | +1.0% | |
| Q1 2021 | -5.4% | -3.4% | +3.5% | |
| Q1 2020 | -5.4% | -3.4% | +3.5% | |
| Q4 2020 | +8.9% | +13.6% | +1.4% | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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