Haemonetics (HAE) Q4 2026 earnings summary

Executive summary

• Q4 revenue reached $346.4 million, up 4.8% year-over-year, driven by strong performance in Plasma, TEG, and Blood Management Technologies, with sequential improvement in Interventional Technologies.

• Adjusted EPS for Q4 was $1.29, up 4% year-over-year, while GAAP EPS was a loss of ($0.44) due to impairment and acquisition-related charges.

• Full-year revenue was $1.33 billion, with adjusted EPS of $4.96 and robust free cash flow of $210 million, reflecting margin expansion and portfolio transitions.

• Innovation advanced with FDA clearance of Persona PLUS, expanded VASCADE MVP XL indication, Japanese label submission, and the acquisition of Vivasure Medical.

• Portfolio transformation included divestiture of Whole Blood and focus on high-growth, high-margin markets.

Financial highlights

• Q4 adjusted gross margin was 59.7%, down 50 bps year-over-year; full-year adjusted gross margin expanded to 60.3%.

• Q4 adjusted operating income was $85 million (24.4% margin), with full-year adjusted operating margin expanding to 25.4%.

• Free cash flow for FY26 reached $210 million, up from $145 million in FY25, with an 89% conversion ratio.

• Ended the year with $245 million in cash after $175 million in share repurchases and $61 million for Vivasure acquisition.

• Long-term debt increased to $1.22 billion; net leverage ratio at year-end was 2.73x EBITDA.

Outlook and guidance

• Fiscal 2027 guidance: total reported revenue growth of 4–7%, organic revenue growth of 3–6%, with adjusted operating margin expected to expand by 50–100 bps year-over-year.

• Adjusted EPS growth expected to be in line with reported revenue growth.

• Free cash flow conversion expected at approximately 80%.

• Guidance excludes any contribution from PerQseal Elite, which is under FDA review.

• Plasma and Hospital segments expected to grow mid-single digits; Blood Center to decline mid-single digits.