Q1 2026 Haemonetics Corp Earnings Call Transcript
Key Points
- Haemonetics Corp (HAE) reported strong organic revenue growth of 13% excluding CSL, despite a 4% decline in reported revenue due to portfolio transitions.
- The company achieved an 8% growth in adjusted EPS, reaching $1.10, driven by strong growth in core products and share buybacks.
- Haemonetics Corp (HAE) saw significant growth in its Plasma business, with a 29% organic increase excluding CSL, supported by technology upgrades and a favorable software agreement.
- The Hospital business delivered $140 million in revenue, with Blood Management Technologies growing 14%, led by a 22% increase in Hemostasis Management.
- The company achieved a 60.8% adjusted gross margin, up 550 basis points year over year, due to favorable product mix and a one-time benefit from a Plasma Software Agreement.
- Reported revenue declined by 4% due to a $52 million impact from portfolio transitions, including the divestiture of the Whole Blood business.
- Interventional Technologies saw a 7% decline, primarily due to tough comparisons and pressures in Sensor-Guided Technology and Esophageal cooling.
- Vascular Closure experienced only 3% growth, with continued softness in legacy VASCADE products, impacting overall performance.
- The adjusted income tax rate increased to 24.9% from 19.9% last year, posing a headwind to net income growth.
- Free cash flow was only $2.5 million, a significant improvement from last year but still low due to typical seasonality and payout of prior-year accruals.
Good day. Thank you for standing by. Welcome to the Haemonetics Corporation first-quarter 2026 earnings call.
(Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your first speaker today, Olga Guyette, Vice President, Investor Relations and Treasury. Olga, you have the floor.
Good morning. Thank you for joining us for Haemonetics first-quarter fiscal year 2026 conference call and webcast.
I'm joined today by Chris Simon, our CEO; and James D'Arecca, our CFO.
This morning, we posted our first-quarter fiscal year 2026 results and full-year fiscal '26 guidance to our Investor Relations website. The same information was made available via the press release issued this morning.
As we provide our business and financial update this morning, I would like to remind everyone that we will use both reported and organic revenue growth numbers that exclude the
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