HAE earnings analysis
What we found in HAE's 10-K: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Haemonetics reported FY2026 financial results with a net revenue of $1,334 million, down 2.0% from FY2025, impacted by the divestiture of the Whole Blood product line and customer transitions. Gross margins improved to 59% from 55% in the previous year, although operating income decreased by 29.3% due to significant intangible asset impairments. The company expects a revenue growth of 4% to 7% in FY2027, driven by gains in Hospital and Plasma segments, despite challenges in the Blood Center segment.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Strong Organic Growth in Hospital Segment
- Hospital revenues rose 4.3% to $588 million, fueled by Hemostasis Management and Transfusion Management products.
- Repurchased $175M in Common Stock
- Under the share repurchase program authorized up to $500 million, the company bought back $175 million in fiscal 2026.
- Improved Gross Margin
- Gross margin increased to 59% in FY2026, up from 55% in FY2025, reflecting stronger pricing and product innovation.
- Acquisition of Vivasure Medical
- Acquired Vivasure Medical for $164.4 million, expanding Hospital's portfolio with new technologies on January 9, 2026.
- Operating Cash Flow Growth
- Operating cash flow improved to $293 million in FY2026 from $182 million in FY2025, aided by better working capital management.
- Non-recurring Sales Loss Impact
- Sales of $153 million from previous non-recurring portfolio transitions adversely affected revenue for FY2026.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Significant Impairment Charges
- Impairment of intangible assets totaled $86.5 million in FY2026, significantly affecting profitability.
- Sales Decline in Blood Center
- Blood Center revenues fell by 15.3% to $221 million, largely due to the divestiture of the Whole Blood product line.
- Market Risk from Inflation and Costs
- Rising inflation and unpredictable market dynamics pose ongoing risks to the company's operational costs and margins.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $2.05
- Gross margin
- 59%
- Operating margin
- 11.7%
- Segment
- Plasma
- Segment
- Blood Center
- Segment
- Hospital
What they said about what is next.
The company expects revenue growth of 4% to 7% in FY2027, supported by performance improvements in the Hospital and Plasma segments.
The filing reads about the same as the one before it.
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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