Haemonetics earnings increased on a per-share basis in its first quarter of fiscal 2027, and the medical technology company raised its annual revenue growth outlook. Results announced August 6, 2026, for the quarter ended June 27 showed revenue rising 5.6% to $339.4 million, supported by plasma and blood management sales, although adjusted operating profitability weakened.
Key Takeaways
- Adjusted earnings per share rose 3.6% to $1.14, while reported diluted EPS increased to $0.72.
- Plasma revenue grew 7.2%, but higher costs contributed to a narrower adjusted operating margin.
- Management raised fiscal 2027 reported revenue growth guidance to 5–8% from 4–7%.
Table of Contents
- Haemonetics earnings show growth across both business units
- Higher sales did not translate into stronger adjusted margins
- Raised revenue guidance leaves margin targets unchanged
- Conclusion
Haemonetics earnings show growth across both business units
The company’s fiscal first-quarter 2027 results announcement showed organic revenue growth of 5.9%, excluding currency movements and the exit of certain liquid solution products. Both Apheresis and MedSurg contributed to the increase.
Chief Executive Chris Simon said Haemonetics gained plasma market share, sustained momentum in Blood Management Technologies and returned Interventional Technologies to growth. Those businesses serve plasma and blood collectors as well as hospitals and procedural care providers.
Plasma sales increased faster than total company revenue. Interventional Technologies, which includes vascular closure systems, posted more modest growth.
| Item | Details |
|---|---|
| Apheresis revenue | $191.3 million; up 5.3% year over year |
| MedSurg revenue | $148.1 million; up 6.0% year over year |
| Blood Management Technologies revenue | $88.1 million; up 8.6% year over year |
| Interventional Technologies revenue | $59.9 million; up 2.5% year over year |
Higher sales did not translate into stronger adjusted margins
Adjusted operating income fell 2.2% to $79.3 million, and adjusted operating margin narrowed by 70 basis points to 23.4%. Adjusted operating expenses increased 6.7%, driven by higher personnel costs and freight charges.
Adjusted gross margin declined 40 basis points to 60.4%. Haemonetics attributed the decline partly to a prior-year benefit from upfront revenue recognition on a long-term software agreement. A shift toward higher-margin products and benefits from innovation partly offset that comparison.
Reported net income fell to $33.0 million from $34.0 million, despite higher operating income, as the effective tax rate increased. Reported diluted EPS nevertheless rose from $0.70 to $0.72 because the weighted average diluted share count was lower. This distinguishes per-share growth from growth in total profit.
Raised revenue guidance leaves margin targets unchanged
Management increased its fiscal 2027 organic revenue growth forecast to 4–7% from 3–6%, alongside the higher reported growth range. The revised outlook includes low- to mid-single-digit Apheresis growth and mid-single-digit MedSurg growth.
Other annual targets remained unchanged: adjusted operating margin expansion of 50–100 basis points, adjusted EPS growth comparable to reported revenue growth and free cash flow conversion of approximately 80%. These are management expectations, not completed results.
Quarterly operating cash flow increased to $52.3 million, primarily because of favorable working-capital movements tied to receivables collections. Free cash flow reached $39.1 million, but the collection-timing benefit means the increase should not be read solely as an improvement in profitability.
Conclusion
The higher revenue outlook sets a stronger growth benchmark for fiscal 2027. Subsequent results will show whether that sales growth is accompanied by progress toward management’s unchanged annual margin-expansion target.
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