Haemonetics Stock Earnings Reports

Haemonetics reported Q1 FY2026 revenue of $321 million, down 4% reported but up 13% organically ex CSL, reflecting a $52 million quarterly headwind from portfolio transitions (CSL transition and whole blood divestiture). Management highlighted three core growth drivers—NexSys (plasma), TEG (hemostasis/blood management) and VASCADE (vascular closure)—which together represent roughly 85% of revenue and underpin the company’s strategy. Hospital revenue ($140M) grew ~4% with strong Blood Management Technologies (BMT) growth (+14%, driven by TEG 6s adoption and heparinase cartridge uptake) offsetting temporary softness in Interventional Technologies (IVT; -7%) largely attributed to competitive pressure and prior-year OEM destocking. Plasma revenue ($130M) was down 4% reported but up 29% organic ex CSL, with roughly half of that organic uplift due to a one-time software agreement; management reaffirmed FY26 plasma guidance of -7% to -10% reported but +11% to +14% organic ex CSL. Adjusted gross margin expanded to 60.8% (up 550 bps YoY) driven by Persona technology, pricing, favorable mix and the software license benefit; adjusted operating income increased 9% to $78M and adjusted EPS rose 8% to $1.10. Management reaffirmed full-year corporate guidance: reported revenue decline of 3% to 6% but organic growth ex CSL of 6% to 9%; adjusted operating margin 26%–27%; adjusted EPS $4.70–$5.00; free cash flow $160M–$200M with >70% conversion. Liquidity remains strong with $293M cash and net leverage ~2.53x; board authorized a $500M buyback program (management referenced recent share repurchases historically). For investors, key takeaways are: (1) durable organic growth driven by three core franchises despite portfolio transitions, (2) meaningful margin expansion and improving cash generation, (3) plasma and TEG are outperforming and expected to remain growth engines, and (4) Interventional Technologies (vascular closure) is underperforming due to execution/competition but management has instituted leadership, organizational and commercial changes and expects recovery in H2 FY26.