Sotera Health Company (SHC.O): 2026Q2 Quick Take: Solid 2Q Results, Guidance Moves Higher

研报英文原文证据摘录

Flash |

06 Aug 2026 08:04:47 ET │ 11 pages

Sotera Health Company (SHC.O)

2Q26 Quick Take: Solid 2Q Results, Guidance Moves Higher

CITI'S TAKE

SHC reported revenue of $321.4mn above FactSet consensus of $310mn,

adj. EBITDA/margin of $165.7mn/51.6% topped consensus of

$158mn/50.9%, and adj. EPS of $0.26 also above consensus of $0.24. By

segment, Sterigenics saw +7.0% CC Y/Y growth driven by favorable

pricing, FX benefits, and volume/mix. Nordion saw +16.7% CC Y/Y growth

driven by improved volume/mix due to timing and favorable pricing .

Nelson Labs saw +5.4% CC Y/Y growth driven by favorable pricing,

improved volume/mix and FX. Management updated the FY26 outlook,

raising guidance of total revenue growth between +5.25-6.75% CC, adj.

EBITDA of $634-643mn, and adj. EPS $0.95-$1.01. We look to the call for

more details on Sterigenics growth, Nelson Lab recovery, the construction

progress of the new X-Ray facility planned to open in 2H26, and any

updates on EO litigation.

FY26 Guidance — The company updated the FY26 guide, raising total CC revenue

growth to +5.25-6.75% from +5.0-6.5% reflecting revenue of $1.236-1.254bn (was

$1.23-1.25bn) compared to consensus of +5.9% (VA) and $1.24bn (FactSet).

Revenue outlook still assumes a ~100bps FX tailwind. Adj. EBITDA growth was

raised to +5.75-7.25% CC Y/Y (from +5.5-7.0%) reflecting $634-643mn (vs prior

$632-641mn), compared to consensus of +6.8% and $634mn, and still includes a

~100bps FX tailwind. All leading to adj. EPS of $0.95-$1.01 (prior $0.93-$1.01)

compared to consensus of $0.97. Other factors in the guide were updated as well,

including interest expense between $135-142mn (was $135-145mn), tax rate 2728% (was 27-29%), and capex $200-225mn (was $175-225mn). Share count was

unchanged at 289-291mn.

Buy / High Risk

Price (05 Aug 26 16:00)

US$17.98

Target price

US$23.00

Expected share price return

27.9%

Expected dividend yield

0.0%

Expected total return

27.9%

Market Cap

US$5,127M

Brendan DiganAC

Albert Hu

Nicole Dragotta

2Q26 Results — Total revenue for 2Q was $321.4mn, representing +8% CC Y/Y

growth, ahead of consensus $310mn. Sterigenics generated revenue of $212mn

growing +7.0% CC Y/Y, beating consensus of $208mn.…