SHC : Highlights from the RBC Healthcare Conference

研报英文原文证据摘录

SHC : Highlights from the RBC Healthcare Conference

EQUITY RESEARCH QUICK TAKE

RBC Capital Markets, LLC

Ryan Halsted (Analyst)

May 19, 2026

Sotera Health Company

Highlights from the RBC Healthcare Conference

NASDAQ: SHC | USD 15.35 | Outperform | Price Target USD 24.00

Sentiment: Positive

We hosted CFO John Lyons and Head of IR John Peterson of Sotera Health at the 2026 RBC Capital Markets Global Healthcare

Conference. We came away feeling that fundamentals remain solid, with mgmt sounding confident in Q2 and FY guide as volume

strength has continued into May. Incremental comments on science appearing to take a front seat in initial California pre-trial

hearings a positive for potential future litigation outcomes. We remain Outperform, PT $24.

• Leadership transition on track. Mgmt noted that incoming CEO Alton starts next week following an exhaustive board search

process. The CFO described him as a "complete package" from an operational and commercial perspective, and we sensed

genuine enthusiasm around the transition; current CEO Michael Petras had signaled readiness after what he views as the

appropriate two four-year terms.

• Volume trajectory encouraging despite Q1 weather headwinds with pricing power intact. Sterigenics volumes would have

been ~8% without localized weather impacts in Jan/Feb; March was "really strong" and April started well. Mgmt reiterated

feeling good about the guide, noting Q2 comps are tough but 2H comps ease. Med-surg demand remains solid year-to-date as

of mid-May. Q1 pricing came in at 4.5%, toward the higher end of the 3–4% historical range. Mgmt reiterated consistent pricing

execution over the past 20 years with no expectation of change, noting the company delivers differentiated, mission-critical