Haemonetics (HAE) Q1 2027 earnings summary

Executive summary

• First quarter FY27 revenue reached $339.4 million, up 5.6% year-over-year (5.9% organic), with all core platforms—MedSurg, apheresis, and interventional technologies—contributing to growth.

• Adjusted EPS rose 4% to $1.14, while GAAP EPS was $0.72; net income was $33.0 million, impacted by a higher tax rate.

• Raised full-year FY27 guidance for reported revenue growth to 5%-8% and organic growth to 4%-7%, reflecting strong Q1 performance.

• Strong cash generation enabled $100 million repayment on the revolving credit facility and robust liquidity at quarter-end.

• Completed organizational realignment, consolidating into two global segments, and continued innovation with accelerated adoption of Persona PLUS.

Financial highlights

• Gross margin was 59.8%, flat year-over-year; adjusted gross margin was 60.4%, down 40 bps due to a prior year software benefit.

• Operating income increased 6.7% to $57.5 million; adjusted operating margin was 23.4%, down 70 bps year-over-year.

• Operating expenses rose 7% to $126 million, mainly from higher personnel costs, acquisition expenses, and freight.

• Cash and cash equivalents stood at $223.4 million at quarter-end; free cash flow was $39.1 million, up $36.6 million year-over-year.

• Adjusted tax rate increased to 25.7% from 24.9%; effective tax rate rose to 30.6% from 24.7% year-over-year.

Outlook and guidance

• FY27 reported revenue growth guidance raised to 5%-8%, organic growth to 4%-7%.

• Adjusted operating margin expected to expand by 50–100 bps year-over-year; free cash flow conversion expected at approximately 80%.

• Apheresis growth outlook increased to low- to mid-single digits; MedSurg remains mid-single digit.

• Collection volume guidance for plasma remains at 0%-2%, despite robust Q1 trends.

• Liquidity and credit facilities are sufficient to fund operations and strategic initiatives over the next twelve months.