Recap: Steris Q3 Earnings
Portfolio Pulse from Benzinga Insights
Steris (NYSE:STE) reported Q3 earnings with an EPS of $2.22, beating estimates by 2.3% and showing a revenue increase of $180 million from the previous year. Despite past earnings beats, such as last quarter's $0.02 EPS beat, Steris's share price dropped by 5.46% the following day. The company has had a mixed performance in recent quarters, with both earnings and revenue fluctuating.
February 07, 2024 | 9:40 pm
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NEUTRAL IMPACT
Steris reported a Q3 EPS of $2.22, surpassing estimates by 2.3%, and a significant year-over-year revenue increase. However, historical data shows a share price drop following last quarter's earnings beat.
While Steris's Q3 earnings beat and revenue growth are positive, the company's history of share price drops following earnings beats suggests a cautious outlook. The mixed past performance and the recent earnings beat could lead to short-term volatility in the stock price, making the impact neutral as investors may have mixed reactions.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100