(Reuters) -Medical equipment maker Steris forecast annual profit above analysts’ estimate on Wednesday, banking on strength in its biggest segment that sells sterilization products, sending its shares up more than 5% in extended trading.
Companies such as Steris and Stryker have been benefiting from a surge in demand for medical equipment as more people in the United States, particularly older Americans, opt for healthcare services and surgical procedures.
Steris, which also manufactures surgical instruments, reported fourth-quarter revenue of $1.48 billion, compared with analysts’ average estimate of $1.47 billion, according to data compiled by LSEG.
Revenue from its healthcare segment, which provides sterilization products to hospitals and other healthcare providers, increased 5%.
The company earned $2.74 per share on an adjusted basis during the quarter, compared with the estimate of $2.59 per share.
Steris expects fiscal 2026 adjusted per-share profit to be between $9.90 and $10.15, while analysts expect $9.87. It posted an adjusted profit of $9.22 per share during fiscal 2025.
The company said its forecast for the year includes the negative impact of tariffs, which are estimated to reduce its pre-tax profit by about $30 million.
(Reporting by Christy Santhosh in Bengaluru; Editing by Shilpi Majumdar)
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