Cautionary Note Regarding Forward-Looking Statements. A fully diluted share count in the range of 283 to 285 million shares on a weighted-average basis. Revenue and segment income growth for fourth-quarter 2022 were driven by favorable pricing and organic volume growth, offset by an unfavorable impact from changes in foreign exchange rates. The net loss for Q4 2022 includes a $408 million reserve related to the binding term sheets to settle the ethylene oxide (EO) claims in Cook County, IL, subject to the satisfaction or waiver by the Company of the various conditions set forth in the term sheets as more fully described in our Current Report on Form 8-K filed by the Company on January 9, 2023. Our new brand underscores the customers recognition of our more expansive partnership as they innovate in an ever-changing and increasingly regulated healthcare world, said Michael Petras, CEO of Sotera Health. (h) Represents litigation and other professional fees associated with our EO sterilization facilities. To participate in the live call, please dial 1-866-777-2509 if dialing in from the United States, or 1-412-317-5413 if dialing in from other locations. (n) Includes depreciation of Co-60 held at gamma irradiation sites. Sotera Healths 2,800 employees touch the lives of millions of people every year. Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has commenced an investigation into Sotera Health Company (NasdaqGS: SHC). On May 26, 2023, Sotera Health Company (NASDAQ:SHC) stock closed at $14.32 per share. University of Oulu. ET, and, KeyBanc Capital Markets Life Sciences & MedTech Investor Forum on March 21, 2023 at 9:45 a.m. (f) Represents litigation and other professional fees associated with our EO sterilization facilities. Sotera Health Reports First-Quarter 2023 Results | Sotera Health 2023 Sotera Health All rights reserved. (l) Represents non-cash accretion of asset retirement obligations related to gamma and EO processing facilities, which are based on estimated site remediation costs for any future decommissioning of these facilities (without regard for whether the decommissioning services would be performed by employees of Nordion, instead of by a third party) and are accreted over the life of the asset. Sotera Health Company has three subsidiaries. The outlook provided above contains a number of assumptions, including, among others, the Companys current expectations regarding supply chain continuity, particularly for the supply of ethylene oxide (EO) and cobalt-60 (Co-60), the impact of inflationary trends including their impact on energy prices and the supply of labor and the expectation that exchange rates as of December 31, 2022 remain relatively constant for the remainder of 2023. Here's Why Sotera Health Company Stock Just Doubled in a Day SOTERA HEALTH INVESTIGATION INITIATED By Former Louisiana Attorney Sotera, a provider of lab services to the medical device and pharmaceutical industries, and Sterigenics, a medical sterilization company, denied any wrongdoing. For fourth-quarter 2022, net revenues were $162 million, an increase of 7.6% compared to the fourth quarter a year ago. (p) $20.9 million and $22.0 million of the adjustments for the three months ended December 31, 2022 and 2021, respectively, and $83.6 million and $85.3 million of the adjustments for the year ended December 31, 2022 and 2021, respectively, are included in cost of revenues, primarily consisting of amortization of intangible assets, depreciation, and accretion of asset retirement obligations. Evoking clarity, coherence and operational efficiency, its threads joined together to form a shield, signifying both the organizations foundation in science and its promise of protection. Copyright 2023 MarketWatch, Inc. All rights reserved. CLEVELAND, May 03, 2023 (GLOBE NEWSWIRE) -- Sotera Health Company ("Sotera Health" or the "Company") (Nasdaq: SHC), a leading global provider of mission-critical end-to-end sterilization solutions, lab testing and advisory services for the healthcare industry, today announced financial results for the . (b) Represents the effects of (i)fluctuations in foreign currency exchange rates, (ii)non-cash mark-to-fair value of embedded derivatives relating to certain customer and supply contracts at Nordion, and (iii) unrealized gains on interest rate caps not designated as hedging instruments. Sotera Health Reports First-Quarter 2023 Results - Yahoo Finance For the best MarketWatch.com experience, please update to a modern browser. Adjusted EPS in the range of $0.78 to $0.86, representing decline of 10% to 19% versus the prior year, primarily driven by increased interest expense and an increased tax rate. Sotera noted in the SEC filing that during the fourth quarter of 2022, "to enhance liquidity in connection with projected litigation-driven expenses, the company borrowed $200 million under its existing secured revolving credit facility, which was held as cash at year end." The translated results are then used to determine year-over-year percentage increases or decreases. Results on a constant currency basis, as we present them, may not be comparable to similarly titled measures used by other companies and are not measures of performance presented in accordance with U.S. GAAP. Miia Turpeinen - Hospital Director - Pohjois-Pohjanmaan hyvinvointialue CLEVELAND, May 03, 2023 (GLOBE NEWSWIRE) -- Sotera Health Company ("Sotera Health" or the "Company") (Nasdaq: SHC), a leading global provider of mission-critical end-to-end sterilization solutions, lab testing and advisory services for the healthcare industry, today announced financial results for the three months ended March 31, 2023. Sotera Health - Monigle For full-year 2022, net revenues increased 7.8% to $1,004 million, compared with $931 million for full-year 2021. We calculate constant currency net revenues by translating prior year net revenues in local currency at the average exchange rates applicable for the current period. Now 17, She's on Track to Solve Even Bigger Problems, Best Practices for Managing and Growing Your Business, A Top Winemaker Gives a Full-Bodied Explanation, Daymond John Slams 'Shark Tank' Contestants With Restraining Order: 'It Is Unfortunate That It Has Come to This', California Woman Arrested For $60 Million Postal Service Scam. Lijuan "Angela" Chen faces two charges that each carry a maximum sentence of five years in prison. (a) Represents share-based compensation expense to employees and Non-Employee Directors. Constant currency is a non-GAAP financial measure we use to assess performance excluding the impact of foreign currency exchange rate changes. In launching its new name and identity, Sotera Health signaled its transformation into an integrated organization and its commitment to delivering on a holistic customer value proposition. Sotera Health Company 9100 South Hills Blvd, Suite 300 Broadview Heights, Ohio 44147 (440) 262-1409 (Name, address including zip code, telephone number, including area code, of agent for service) Copies To: Approximate date of commencement of proposed sale to the public:As soon as practicable after the effective date hereof. Privacy Notice | Material debt balances currently outstanding do not mature until 2026. Sotera Health management will host a conference call and webcast to discuss the Companys operating highlights and financial results at 9:00 a.m. Eastern Time today. -, Sotera Health Investigation Initiated By Former Louisiana Attorney General : Kahn Swick & Foti, LLC Investigates the Officers and Directors of Sotera Health Company - SHC, Transcript : Sotera Health Company Presents at RBC Capital Markets Global Healthcare Conference 2023, May-16-2023 04:35 PM, Sotera Health to Present at the 2023 RBC Capital Markets Global Healthcare Conference. Revenues rose 10% year-over-year (YoY) to $248.7 million, beating analyst estimates for $248.2 million. IBA SteriGenics, IBA North American Medical Sterilization & Analytical Labs, Radiation Sterilizers, Sterigenics International, Sotera Health Topco, Inc. Public Fundamental Data provided by Morningstar, Inc. Sotera Health Co provides sterilization, analytical lab testing, and advisory services to help ensure that medical, phar, inim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea com. The three months ended March 31, 2022 excludes a $6.3 million net increase in the fair value of interest rate derivatives not designated as hedging instruments recorded to interest expense. (b) Represents the effects of (i)fluctuations in foreign currency exchange rates, (ii)non-cash mark-to-fair value of embedded derivatives relating to certain customer and supply contracts at Nordion, and (iii) unrealized gains on interest rate caps not designated as hedging instruments. Get the full list, Youre viewing 5 of 11 investments and acquisitions. SHC Stock Price | Sotera Health Co. Stock Quote (U.S.: Nasdaq Adjusted earnings per diluted share (Adjusted EPS) was $0.25, an increase of $0.02 per diluted share, compared to the fourth quarter of 2021. Sotera Health Company is a leading global provider of mission-critical end-to-end sterilization solutions and lab testing and advisory services for the healthcare industry. Heres the pain trade Citi sees in U.S. stocks as S&P 500 exceeds its 2023 target, Trump lawyers met Monday with DOJ officials and special counsel Jack Smith, Sotera Health downgraded to sector weight from overweight at KeyBanc Capital, Sotera Health double downgraded to underweight from overweight at J.P. Morgan, Sotera Health started at overweight with $35 stock price target at J.P. Morgan, Sotera Health's stock opens at $27.00, or 17% above IPO price, Sotera Health's stock now indicated to open around $26.15, or 13.7% above the IPO price, Sotera Health's stock indicated to open around $25.20, or 9.6% above the $23 IPO price, Sotera Health sets IPO terms, to offer 46.6 mln shares priced at $20 to $23 each, Private-equity firm Compass widens reach into healthcare as a bright spot in moribund M&A market, Sotera Health upgraded to neutral from underweight at J.P. Morgan, Compass Pitches 5% Yield Today and Growth Tomorrow, Sotera Health to pay $408 million to settle allegations in Illinois, Maravai LifeSciences Jumps Nearly 19% in IPO, While Sotera Pops 17%, Sotera Health's stock rallies out of the gate to lift the market cap above $7 billion, Sotera Health stock set to start trading after IPO pricing valued company at more than $6 billion, Sotera Health to offer 46.6 million shares in IPO, priced at $20 to $23 each, Top 5 Health Care Stocks That Could Lead To Your Biggest Gains In May, Sotera Health's Return On Capital Employed Insights, Sotera Health (SHC) Q1 2023 Earnings Call Transcript, Sotera Health Company (SHC) Q1 Earnings and Revenues Lag Estimates, Life Time Group Holdings, Inc. (LTH) Surpasses Q1 Earnings and Revenue Estimates, Analyst Expectations for Sotera Health's Future, Analysts Offer Insights on Healthcare Companies: Mirati Therapeutics (MRTX), Iovance Biotherapeutics (IOVA) and Sotera Health (SHC), Sotera Health (SHC) Q4 2022 Earnings Call Transcript, Sotera Health Company (SHC) Beats Q4 Earnings and Revenue Estimates, ModivCare (MODV) Q4 Earnings and Revenues Surpass Estimates. KSF has offices in New York, California, Louisiana and New Jersey. For full-year 2022, Nordion net revenues were $154 million, an increase of 9.3% compared to 2021. Intraday Data provided by FACTSET and subject to terms of use. Comprehensive Sterilization Solutions Sterigenics is a leading global provider of outsourced terminal sterilization and irradiation services for the medical device, pharmaceutical, food safety and advanced applications markets. (i) Represents expenses incurred in connection with the repricing of our Term Loan in January 2021 and the full redemption of the First Lien Notes in August 2021, including a prepayment premium and accelerated amortization of prior debt issuance and discount costs. In 2018, ethylene oxide (EO) sterilization came under scrutiny after releasing an EPA risk assessment, which the Company claims are highly conservative. 2023 PitchBook. Sotera Health Co. provides mission-critical sterilization, lab testing and advisory services to the medical device and pharmaceutical industries. For first-quarter 2023, Sterigenics net revenue was $160 million, an increase of 7.0% compared to the first quarter a year ago. Refer to the Adjusted EBITDA reconciliations for detail. (f) Represents an impairment charge on our equity method investment in a joint venture. To explore Sotera Healths full profile, request access. Subscriber Agreement & Terms of Use | Purchase of mandatorily redeemable noncontrolling interest in Nelson Laboratories Fairfield, Inc. Purchase of Regulatory Compliance Associates Inc., net of cash acquired, Purchase of noncontrolling interests in China subsidiaries, Payments of debt issuance costs and prepayment premium, Shares withheld for employee taxes on equity awards, Net cash provided by (used in) financing activities, Effect of exchange rate changes on cash and cash equivalents, Net increase in cash and cash equivalents, including restricted cash, Cash and cash equivalents, including restricted cash, at beginning of period, Cash and cash equivalents, including restricted cash, at end of period, Cash paid during the period for income taxes, net of tax refunds received, Equipment purchases included in accounts payable, Loss (gain) on foreign currency and derivatives not designated as hedging instruments, net, Impairment on investment in unconsolidated affiliate, Income tax benefit associated with pre-tax adjustments, Income tax provision applicable to Adjusted Net Income, Add: unamortized debt issuance costs and debt discounts. (b) Includes depreciation of Co-60 held at gamma irradiation sites. Sotera Health Company has three subsidiaries. Data for the most recent year was downloaded on April 24, 2023 and includes spending from January 1 - March 31. For . (f) Represents an impairment charge on our equity method investment in a joint venture. Live and archived webcasts and presentations associated with the conferences listed above may be accessed on the Investor Relations section of the Sotera Health website at: Presentation & Events | Sotera Health. Want to Break Bad Habits and Supercharge Your Business? We use these non-GAAP financial measures as the principal measures of our operating performance. Sotera Health Lobbying Profile OpenSecrets (f) Represents professional fees, contract termination and exit costs, severance and other payroll costs, and other costs associated with business optimization and cost savings projects relating to the integration of acquisitions, operating structure realignment and other process enhancement projects. Here's how to detect if the phone is real or robot. Secure and increase the performance of your investments with our team of experts at your side. 2023-06-05 | NDAQ:SHC | Press Release | Sotera Health Company - Stockhouse A replay of the webcast will be available later in the day on February 28th. Its Nordion division supplies Cobalt-60 in radiation therapy and generates $35 million quarterly revenues, up 21.9%. Sotera Health CompanyNon-GAAP Financial Measures(in thousands)(unaudited). On Jan. 9, 2023, Sotera reached a settlement to pay out approximately $408 million to settle the over 870 EO cases pending against its Sterigenics unit in the Circuit Court of Cook County, IL, and U.S. District Court for the Northern District of Illinois. Sotera Health Reports Third-Quarter and Year-to-Date 2021 Results Get the full list, To view Sotera Healths complete patent history, request access, Youre viewing 5 of 25 executive team members. (e) Represents decommissioning costs, professional fees, severance and other payroll costs, and other costs including ongoing lease and utility expenses associated with the closure of the Willowbrook, Illinois facility. The inclusion of this forward-looking information should not be regarded as a representation by us that the future plans, estimates or expectations contemplated by us will be achieved. New Healthcare jobs added daily. Employers Are Part of The Problem But They Can Be Part of The Solution. For a company that provides safety services and consulting for medical device makers and pharmaceuticals, it seems odd that they're being accused of potentially causing cancer. The $500 million Term Loan B will impact the Companys Net Leverage Ratio. Excepteur sint occaecat cupidatat non proident, Youre viewing 2 of 2 competitors. (m) Represents non-recurring costs associated with the COVID-19 pandemic, including incremental costs to implement workplace health and safety measures. Employing magic and awe to disrupt a transactional industry. (a) Represents share-based compensation expense to employees and Non-Employee Directors. All rights reserved. Assistant Professor. The following is a list of subsidiaries of Sotera Health Company, omitting subsidiaries which are dormant entities without any operations and holding no or de minimis assets, and which, considered in the aggregate as a single subsidiary, would not constitute a significant subsidiary as of March 9, 2021. Copyright 2023 Surperformance. Segment income increased less than 1% to $20 million. Adjusted EBITDA Margin is equal to Adjusted EBITDA divided by net revenues. First-quarter 2023 net revenues decreased 6.8% to $221 million, compared with $237 million in the first-quarter 2022. As Sotera Health, the organization would continuously push for development of mission-critical solutions, while remaining committed to protecting global health. EO sterilization is applied to over 20 billion medical products daily. Create a list of the investments you want to track. The Return to Office Movement is Causing a Mental Health Crisis. Bubba's Q boneless ribs first appeared on Season 5 of the hit ABC show. By creating this job alert, you agree to the LinkedIn User Agreement and Privacy Policy. (b) Represents the effects of (i)fluctuations in foreign currency exchange rates, (ii)non-cash mark-to-fair value of embedded derivatives relating to certain customer and supply contracts at Nordion, and (iii) unrealized gains and losses on interest rate caps not designated as hedging instruments. The Company presented at the 41st Annual J.P. Morgan Healthcare Conference on the same day. Get notified about new Healthcare jobs in Oulu, North Ostrobothnia, Finland. But the Sterigenics International team, including three private equity-owned subsidiaries nested within the parent companyNelson Labs, Sterigenics and Nordionknew it could pull ahead, being the first organization to offer services and products across the entire supply chain. Lewis Kahn, Managing Partner A fully diluted share count in the range of 283 to 285 million shares on a weighted-average basis, Capital expenditures in the range of $185 to $215 million, and. For direct connection to the conference call, participants are strongly encouraged to preregister at this link. Third-quarter 2021 net revenues increased 13.1% to $226 million, compared with $200 million in the same period a year ago. Why Are Some Wines More Expensive Than Others? 9100 S Hills Blvd Ste 300, Broadview Heights, Ohio, 44147, United States Phone Number (440) 262-1410 Website www.soterahealth.com Revenue $956.1M Stock Symbol SHC Industry Medical Testing & Clinical Laboratories Healthcare Sotera Health's Social Media Is this data correct? No one else in the industry was bringing together individual elements across the supply chain, and customers were working with many different partners, making for a lengthy and inefficient experience. Our outlook is based on current plans and expectations and is subject to several known and unknown risks and uncertainties, including those set forth below under Forward-Looking Statements.. The key support levels on a $14.53 breakdown are $12.54, $10.58, and $9.32 price levels. Segment income margin decline was driven by the impacts referenced above, offset by the impact of current staffing levels versus the typical lighter first-quarter volume relative to the remainder of the year, as well as inflation. (e) Represents (i) certain direct and incremental costs related to the acquisitions of RCA, the noncontrolling interests in our China subsidiaries, BioScience Labs in 2021, the first quarter 2021 gain on the mandatorily redeemable noncontrolling interest in Nelson Labs Fairfield, and certain related integration efforts as a result of those acquisitions, (ii) the earnings impact of fair value adjustments (excluding those recognized within amortization expense) resulting from the businesses acquired, (iii) transition services income and non-cash deferred lease income associated with the terms of the divestiture of the Medical Isotopes business in 2018, (iv) a $3.4 million gain recognized in the third quarter of 2021 related to the settlement of an insurance claim for Nordion that existed at the time of our acquisition of the business in 2014, and (v) a $5.1 million non-cash gain recognized in the fourth quarter of 2021 arising from the derecognition of an ARO liability no longer attributable to Nordion pursuant to the terms of the sale of the Medical Isotopes business in 2018. (g) Represents expenses incurred in connection with the repricing of our Term Loan in January 2021 and the full redemption of the First Lien Notes in August 2021, including a prepayment premium and accelerated amortization of prior debt issuance and discount costs. (a) Represents non-cash share-based compensation expense. Sotera Health CompanyConsolidated Statements of Operations (in thousands, except per share amounts)(unaudited), Sotera Health Company Segment Data(in thousands)(unaudited). Revenue and segment income increases for the fourth-quarter 2022 were driven by favorable pricing, partially offset by an unfavorable impact from changes in foreign currency exchange rates.
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