Steris sees FY20 EPS $5.50 - $5.65, consensus $5.47
Based on current performance and expectations for the full fiscal year, the Company is updating its prior outlook for revenue and adjusted earnings per diluted share. Constant currency organic revenue growth is now expected to be in the range of 7.5-8.5%, compared with 6-7% previously. The increase in constant currency organic revenue growth is due to outperformance of the underlying business as well as approximately one percentage point benefit from a number of tuck-in acquisitions completed in the first half of the year. Reflecting September 30, 2019 forward rates, the Company now expects that currency movements will negatively impact as reported revenue by approximately $25 million in fiscal 2020. Adjusted earnings per diluted share are now anticipated to be in the range of $5.50 - $5.65, compared with $5.38 - $5.53 previously. Consensus for FY20 revenue is $2.96B.