Haemonetics Q1 Earnings Call Highlights

Haemonetics Q1 Earnings Call Highlights

Key Points Haemonetics raised its fiscal 2027 outlook , now expecting reported revenue growth of 5%–8% and organic growth of 4%–7%, after first-quarter revenue increased 6% to $339 million and adjusted EPS rose 4% to $1.14. Growth was broad-based : MedSurg revenue rose 6%, led by blood management and vascular closure, while apheresis revenue increased 6% organically as plasma disposables and the Persona PLUS rollout gained momentum. Cash generation and deleveraging improved significantly , with operating cash flow reaching $52 million, free-cash-flow conversion at 75% of adjusted net income, and $100 million in debt repayment during and after the quarter; management continues to prioritize organic investment and debt reduction.

Haemonetics NYSE: HAE reported a stronger start to fiscal 2027, with first-quarter revenue rising 6% year over year to $339 million and adjusted diluted earnings per share increasing 4% to $1.14. The company raised its full-year revenue outlook, citing broad-based growth across its MedSurg and apheresis businesses, while maintaining a disciplined stance on assumptions for the remainder of the year. Chief Executive Officer Chris Simon said the quarter reflected investments in the company’s portfolio, operating model and commercial execution. “All three of our core platforms contributed to our performance this quarter,” Simon said, pointing to plasma, blood management technologies and interventional technologies.

MedSurg revenue increased 6% on both a reported and organic basis to $148 million. Blood management technologies grew 8% organically, driven by double-digit growth in hemostasis and transfusion management, partly offset by slower cell salvage capital upgrades. Hemostasis management posted mid-teens disposable growth as utilization increased across the installed base and the company gained share, according to Simon. He said demand for the HN cartridge supported the expansion of viscoelastic testing applications. The TEG business has grown at an average annual rate of 15% over the past five years, he said, with disposable products accounting for roughly 85% of TEG revenue. Transfusion management also benefited from software implementations and faster customer activations, which the company said are expanding its recurring revenue base. Interventional technologies returned to organic growth of 3%, led by low-double-digit growth in vascular closure. Simon said VASCADE MVP and VASCADE MVP XL gained momentum in the U.S., while electrophysiology helped offset softness in peripheral and coronary procedures and esophageal cooling. The company attributed vascular closure performance to a stabilizing pulse field ablation, or PFA, market; investments in sales and marketing; and the expanded indication for VASCADE MVP XL for use with outer diameters up to 17 French. Simon said PFA penetration in atrial fibrillation procedures is now estimated at 80% to 85%, supporting an access-site market growth rate of approximately 6% to 7%. Haemonetics also highlighted a real-world Emory University study involving more than 1,600 patients using VASCADE MVP XL in large-bore sheath procedures. The study showed rapid hemostasis, more than 92% same-day discharge and what the company described as an excellent safety profile.

Apheresis revenue rose 5% on a reported basis and 6% organically to $191 million. Plasma revenue grew 8% organically, supported by double-digit global disposable growth, customer share gains, collection activity and the rollout of Persona PLUS. Simon said U.S. customer collections increased in the h...