Haemonetics Corp
Q2 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +1.90%.
Did HAE Beat Earnings? Q2 2026 Results
Haemonetics delivered a standout second quarter for fiscal 2026, posting adjusted EPS of $1.27 against a consensus estimate of $1.11, a beat of 14.34%, while revenue of $327.31 million topped expectations by 5.08% despite a reported year-over-year decline of 5.3% that largely reflected the wind-down of a CSL Plasma supply agreement and the divestiture of its Whole Blood product line. Strip out those headwinds and the underlying business grew 9.4% organically, with Plasma segment organic ex-CSL growth of 18.6% serving as the clearest evidence of accelerating share gains. Gross margin expanded sharply to 59.5% from 54.2% a year ago, driving adjusted operating margin to 26.7%, up 250 basis points. Free cash flow reached $89.00 million for the quarter, supporting $75.00 million in share repurchases. Encouraged by the momentum, management raised its fiscal 2026 adjusted EPS guidance to $4.80 to $5.00 and lifted its free cash flow outlook to $170.00 million to $210.00 million, while flagging targeted commercial actions to address softness in Interventional Technologies.
- Plasma share gains driving organic ex-CSL revenue growth of 18.6%
- Pricing benefits across all business units
- Blood Management Technologies revenue growth of 13.0%
- Favorable product mix improving gross margins
- Disciplined cost management reducing adjusted operating expenses
- Favorable working capital adjustments from lower inventory purchasing drove strong cash flow
“Our second quarter results demonstrate disciplined execution and increasingly profitable growth across our business—growing cash flow, earnings and operating income while absorbing the impact from last year's portfolio transitions. With the majority of our businesses outperforming and targeted actions underway to strengthen commercial execution in Interventional Technologies, we are firmly on track to deliver our updated fiscal year 2026 guidance and long-range plan objectives. Our strong balance sheet will enable additional avenues for value creation, including advancing growth initiatives, debt repayment, and share buybacks.”
Haemonetics CEO, on the earnings call
Forward Guidance & Outlook
Haemonetics raised its fiscal 2026 guidance. Total company reported revenue is now expected to decline 1–4% (previously 3–6%), with organic ex-CSL revenue growth of 7–10% (previously 6–9%). By segment: Plasma reported revenue expected to decline 4–7%, with organic ex-CSL growth of 14–17%; Blood Center reported revenue to decline 17–19%; Hospital reported revenue to grow 4–7%. Adjusted operating margin guidance was reaffirmed at 26–27%. Adjusted EPS guidance was raised to $4.80–$5.00 from $4.70–$5.00. Free cash flow guidance was raised to $170M–$210M from $160M–$200M, with free cash flow to adjusted net income conversion expected above 70%.
HAE YoY Financials
HAE Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.