Sotera Health (SHC) Q3 FY2023 earnings: revenue $263 million, up 5.8% on the year

Sotera Health Co. (SHC) reported revenue of $263 million for Q3 FY2023, the quarter ended 30 September 2023, up 5.8% on the same quarter a year earlier. Net income was -$14 million, and diluted earnings per share $-0.05. The figures are the company's own, from the 10-Q it filed with the SEC on 1 November 2023.

Revenue$263 millionup 5.8%

Net income-$14 million

Diluted EPS$-0.05

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	263	n/a	n/a	n/a
Cost of revenue	117	n/a	n/a	n/a
Gross profit	146	n/a	n/a	n/a
Gross margin	55.5%	n/a	n/a
Selling, general and administrative	54.1	n/a	n/a	n/a
Operating income	76.1	n/a	n/a	n/a
Operating margin	28.9%	n/a	n/a
Pre-tax income	0.5	n/a	n/a	n/a
Income tax	14.1	n/a	n/a	n/a
Effective tax rate	3006.4%	n/a	n/a
Net income	-13.7	n/a	n/a	n/a
Net margin	-5.2%	n/a	n/a
Diluted EPS	-$0.05	n/a	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	41.8	n/a	n/a	n/a
Capital expenditure	52.0	n/a	n/a	n/a
Free cash flow	-10.2	n/a	n/a	n/a
Free cash flow margin	-3.9%	n/a	n/a
Cash from investing	-52.0	n/a	n/a	n/a
Cash from financing	-3.5	n/a	n/a	n/a
Depreciation and amortisation	38.2	n/a	n/a	n/a
Share-based compensation	8.4	n/a	n/a	n/a
Diluted shares, weighted	281m	n/a	n/a	n/a
Shares outstanding at period end	283m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	377	n/a	n/a	n/a
Debt	2,228	n/a	n/a	n/a
Operating lease liabilities	20.7	n/a	n/a	n/a
Finance lease liabilities	63.2	n/a	n/a	n/a
Other liabilities	347	n/a	n/a	n/a
Total liabilities and equity	3,037	n/a	n/a	n/a
Fixed assets	884	n/a	n/a	n/a
Goodwill	1,101	n/a	n/a	n/a
Intangible assets	429	n/a	n/a	n/a
Cash and equivalents	245	n/a	n/a	n/a
Receivables	118	n/a	n/a	n/a
Inventory	37.9	n/a	n/a	n/a
Other assets	221	n/a	n/a	n/a
Total assets	3,037	n/a	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	263	310	248	277	285	290	255	294	311	303	280	321
Cost of revenue	117	130	121	124	127	126	119	128	134	138	133	143
Gross profit	146	180	127	153	158	164	135	167	178	166	147	178
Gross margin	55%	58%	51%	55%	55%	57%	53%	57%	57%	55%	53%	55%
SG&A	54.1	60.4	58.2	60.6	62.0	61.8	63.1	68.9	63.3	57.5	68.2	68.2
Operating income	76.1	104	53.2	76.8	80.5	87.1	n/a	n/a	n/a	n/a	n/a	n/a
Operating margin	29%	34%	21%	28%	28%	30%	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	0.5	65.7	11.0	15.1	42.8	45.0	-14.8	18.9	72.9	70.5	42.6	78.1
Tax rate	3006%	41%	43%	42%	60%	73%	n/a	58%	34%	51%	38%	31%
Net income	-13.7	38.7	6.3	8.8	17.0	12.3	-13.3	8.0	48.4	34.8	26.6	53.6
Net margin	-5%	12%	3%	3%	6%	4%	-5%	3%	16%	11%	9%	17%
Diluted EPS	-$0.05	$0.14	$0.02	$0.03	$0.06	$0.04	-$0.05	$0.03	$0.17	$0.12	$0.09	$0.19
Operating cash flow	41.8	113	9.7	61.3	97.5	55.7	55.5	57.4	71.2	103	29.4	88.5
Capital expenditure	52.0	64.8	34.9	41.9	36.4	65.9	19.9	31.2	36.2	50.7	46.2	46.4
Free cash flow	-10.2	48.3	-25.2	19.4	61.1	-10.2	35.6	26.2	35.0	52.4	-16.7	42.0
Shares outstanding	283m	283m	283m	283m	283m	283m	284m	284m	284m	284m	285m	285m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 1 November 2023, accession 0001822479-23-000063: the filing on EDGAR. All of Sotera Health Co.'s filings: EDGAR company page.

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