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Haemonetics’s Fiscal Q1 Earnings Surpass Analyst Estimates

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Aug. 9 2018, Updated 2:06 p.m. ET

A look at Haemonetics’s Q1 2019 estimates

Haemonetics (HAE), a leading healthcare company in blood management solutions, released its fiscal Q1 2019 earnings on August 7. Haemonetics surpassed Wall Street analyst estimates for revenues and earnings per share during the quarter with adjusted EPS of $0.59 on revenues of $229.3 million as compared to the estimated EPS of $0.42 on revenues of $219.9 million.

The above chart compares EPS and revenues since the first quarter of 2018.

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Q1 2019 performance

Haemonetics reported an 8.7% YoY increase in revenues to $229.3 million during Q1 2019 as compared to revenues of $210.9 million during Q1 2018. The revenues from plasma centers rose 15.2% to $116.9 million during Q1 2019 including a 14% increase in operating revenues and a 1.2% favorable impact of foreign exchange.

The revenues from hospitals rose ~9.3% to ~$48.0 million during Q1 2019 including a 6.3% increase in operating revenues and a 3.0% favorable impact of foreign exchange. The revenues from blood centers fell ~1.7% to $64.5 million during Q1 2019 including a 3.1% decline in operating revenues, offset by a 1.4% favorable impact of foreign exchange.

Geographical performance

The revenues from the US markets increased by 8.5% to $142.1 million during Q1 2019 as compared to revenues of $131.0 million during the first quarter of 2018. The revenues from the international markets increased by 9.1% to $87.2 million during Q1 2019 as compared to the revenues of $79.9 million during the first quarter of 2018. The growth includes a 5.1% increase in operating revenues and a 4% favorable impact from foreign exchange.

The SPDR S&P Healthcare Equipment ETF (XHE) holds 1.7% of its total investments in Haemonetics (HAE), 1.7% in Zimmer Biomet (ZBH), 1.7% in Becton Dickinson (BDX), and 1.7% in Boston Scientific (BSX).

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