The following is a summary of the Haemonetics Corporation (HAE) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Haemonetics Corporation saw an organic revenue growth of 10% in Q4 and 12% for the total fiscal 2024 year.

• It reported adjusted earnings per diluted share of $0.90 in Q4 and $3.96 for the year, marking an increase of both 17% and 31% respectively.

• The company's FY 2024 adjusted gross margin stood at 54.4%, an increase of 1.2% from the previous year.

• The adjusted net income for 2024 grew by 31% to $203.6 million. With the same percentage increase, adjusted earnings per share reached to $3.96.

• The adjusted income tax for FY '24 settled at 23%.

Business Progress:

• Haemonetics restructured its revenue reporting, incorporating services into commercial business units, starting FY 2025.

• The company successfully introduced Express Plus in a limited market release, leading to usage in over 60,000 real-world collections.

• The company made notable progress in portfolio rationalization, prioritizing focus on global apheresis to improve the margin profile.

• The acquisition of OpSens and Attune been announced to boost future growth.

• For FY 2025, the company is projecting reported revenue growth to be in the range of 5% to 8%.

• It expects gross savings of $15 million from their Operational Excellence Program, benefiting their adjusted operating margins by about $10 million in FY 2025.

• Haemonetics is preparing for business expansion opportunities and share buybacks and debt repayment, intending to expand the product portfolio and increase returns.

• It plans to accelerate the rollout of Express Plus, the NexSys device upgrade, pledging confidence in the premium innovation.

• The company anticipates revenue growth from both plasma and hospital markets, notably due to high-margin products.

• Departure of earnings from CSL, 10% of earnings, will gradually impact the margin dynamics linearly.

• Market expansion particularly seen in Japan with over 90 accounts and a proactive approach to work through European markets.

More details: Haemonetics IR

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