Haemonetics Corporation (NYSE:HAE) reported fiscal third-quarter 2026 results on Thursday that exceeded analyst expectations, posting adjusted earnings per share of $1.31, ahead of the consensus estimate of $1.25. Revenue for the quarter reached $339 million, surpassing the forecast of $331.91 million.
The company’s shares were largely unchanged in after-hours trading following the announcement.
The medical technology firm reported a 2.7% decline in total reported revenue compared with the same period last year. However, organic revenue — excluding the transitional supply agreement with CSL Plasma — increased 7.5%. Adjusted operating margin expanded to 26.3%, up 60 basis points year-on-year, while adjusted gross margin rose 250 basis points to 60.2%.
“Third quarter revenue growth, margin expansion, and cash flow reflect the underlying strength of our core businesses,” said Chris Simon, Haemonetics’ CEO. “Blood Management Technologies and Plasma continue to drive our strong performance while we take targeted actions to reestablish momentum in Interventional Technologies and prepare for a US launch of PerQseal Elite.”
Haemonetics also raised its full-year fiscal 2026 outlook. The company now expects organic revenue growth of between 0% and 2%, and organic revenue growth excluding CSL of 8% to 10%, compared with its previous projection of between -1% and 2%. Adjusted earnings per share guidance was increased to a range of $4.90 to $5.00, up from the earlier $4.80 to $5.00 forecast. The company also lifted its free cash flow outlook to between $200 million and $220 million, from the prior range of $170 million to $210 million.
By segment, Plasma revenue rose 3.5% to $138.9 million, while Hospital segment revenue remained relatively stable at $143.5 million. Blood Center revenue declined 19.6% to $56.6 million, largely due to the divestment of the Whole Blood product line completed in January 2025.
Free cash flow for the quarter totalled $74.2 million, representing a 150.9% increase from the same period last year, supported by favourable working capital adjustments and reduced inventory purchases.