Haemonetics’ third quarter results were met with a significant positive market reaction, reflecting both a beat on Wall Street’s revenue and profit expectations and effective execution across its core businesses. Management attributed the outperformance to strong share gains in plasma collection solutions, sustained growth from Blood Management Technologies, and disciplined cost management. CEO Chris Simon emphasized that the company’s results “reflect disciplined execution, delivering strong core product growth, record margin expansion and solid earnings that convert to cash.” The hospital segment also contributed meaningfully to operating margin improvement, supported by continued demand for viscoelastic testing and targeted actions to address underperformance in interventional technologies.
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Haemonetics (HAE) Q3 CY2025 Highlights:
- Revenue: $327.3 million vs analyst estimates of $310.8 million (5.3% year-on-year decline, 5.3% beat)
- Adjusted EPS: $1.27 vs analyst estimates of $1.11 (14.3% beat)
- Adjusted EBITDA: $106.3 million vs analyst estimates of $98.45 million (32.5% margin, 8% beat)
- Management raised its full-year Adjusted EPS guidance to $4.90 at the midpoint, a 1% increase
- Operating Margin: 17.9%, up from 15% in the same quarter last year
- Organic Revenue fell 1.8% year on year vs analyst estimates of 5.3% declines (354.4 basis point beat)
- Market Capitalization: $3.42 billion
While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.
Our Top 5 Analyst Questions From Haemonetics’s Q3 Earnings Call
- Rohin Patel (JPMorgan) asked about the relative contributions of share gains, pricing, and collections growth in plasma. CEO Chris Simon explained that share gains were the primary driver, followed by pricing improvements and then volume recovery, noting the sustainability of these trends.
- Marie Thibault (BTIG) questioned details of the interventional technologies turnaround. Simon described new commercial leadership, a bifurcated sales force, and better sales tracking as key actions, expressing confidence that these changes will drive renewed growth.
- David Rescott (Baird) inquired about the sustainability of high single-digit plasma collection growth and the competitive environment for vascular closure. Simon responded that plasma volume growth should continue due to robust end-market demand, while competitive actions in vascular closure are already showing encouraging early results.
- Unknown Analyst (Needham & Company) asked about the drivers of blood center growth post-divestiture. Simon highlighted the positive impact of focusing on plasma apheresis and portfolio rationalization, which improved margins and allowed for more targeted market alignment.
- Andrew Cooper (Raymond James) sought clarification on the economic differentiation of VASCADE and competitive pricing. Simon outlined workflow and patient benefits, emphasizing that modest pricing flexibility, not broad discounting, was used to retain accounts and maintain margins.
Catalysts in Upcoming Quarters
In the quarters ahead, the StockStory team will be monitoring (1) the pace of plasma share gains and collection volume trends, (2) the adoption trajectory of the heparinase neutralization cartridge in new international markets, and (3) early signs of recovery in interventional technologies, particularly vascular closure. Progress on the Vivasure acquisition and updates on product pipeline expansion will also be important indicators of Haemonetics’ ability to achieve its long-term growth objectives.
Haemonetics currently trades at $74.38, up from $50.72 just before the earnings. Is there an opportunity in the stock?The answer lies in our full research report (it’s free for active Edge members).
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