Steris (STE) reported net income of $213.7 million in fiscal Q2 2027, ended September 30, 2026, compared with $191.9 million in the same period a year earlier. Earnings per share (EPS) were $2.19, versus $1.94. The result includes a benefit of about $20 million before taxes from tariff refunds.
Revenue rose 9% to $1.6 billion ($1,588.6 million), compared with $1.5 billion in fiscal Q2 2026. Organic constant currency growth (excludes the effects of foreign exchange, acquisitions and divestitures, non-GAAP) was 8%. Adjusted net income (non-GAAP, excludes items the company considers non-recurring) was $286.8 million, and adjusted EPS was $2.94, versus $2.47.
By segment, Healthcare revenue grew 9% to $1.1 billion, with operating income of $269.2 million. Applied Sterilization Technologies (AST) revenue rose 5% to $295.6 million, with operating income of $132.1 million. Life Sciences revenue advanced 18% to $170.6 million, with operating income of $75.8 million. In the first six months of the fiscal year, free cash flow was $492.5 million, versus $527.7 million.
During the quarter, the company approved an additional restructuring plan, focused mainly on Healthcare, with total expected charges of about $45 million, of which $10 million in cash and $35 million non-cash. About $25 million was recorded in the quarter, and expected annual savings are about $9 million.
Steris raised its fiscal 2027 adjusted EPS guidance to between $11.35 and $11.55, from $11.10 to $11.30, including about $0.18 of tariff refunds. The consolidated revenue growth guidance of 7% to 8% was maintained. The company will issue updated guidance, including the proposed acquisition of Xodus Medical, after the deal closes.
