STERIS plc (NYSE: STE) (“STERIS” or the “Company”) announced
today that STERIS's Board of Directors has authorized a new share
buyback program for the purchase of up to $500 million of the
Company's ordinary shares. Shares may be repurchased from time to
time through open market transactions, including 10b5-1 plans. The
repurchase program may be suspended or discontinued at any time.
In addition, the Company will distribute a quarterly interim
dividend of $0.47 per share. The dividend is payable on June 28,
2023, to shareholders of record at the close of business on June
14, 2023.
STERIS is a leading global provider of products and services
that support patient care with an emphasis on infection prevention.
WE HELP OUR CUSTOMERS CREATE A HEALTHIER AND SAFER WORLD by
providing innovative healthcare, life sciences and dental products
and services. For more information, visit www.steris.com.
Company Contact:
Julie Winter, Vice President, Investor Relations and Corporate
Communications
Julie_Winter@steris.com
+1.440.392.7245
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION
This release may contain statements concerning certain trends,
expectations, forecasts, estimates, or other forward-looking
information affecting or relating to STERIS or its industry,
products or activities that are intended to qualify for the
protections afforded “forward-looking statements” under the Private
Securities Litigation Reform Act of 1995 and other laws and
regulations. Forward-looking statements speak only as to the date
the statement is made and may be identified by the use of
forward-looking terms such as “may,” “will,” “expects,” “believes,”
“anticipates,” “plans,” “estimates,” “projects,” “targets,”
“forecasts,” “outlook,” “impact,” “potential,” “confidence,”
“improve,” “optimistic,” “deliver,” “orders,” “backlog,”
“comfortable,” “trend”, and “seeks,” or the negative of such terms
or other variations on such terms or comparable terminology. Many
important factors could cause actual results to differ materially
from those in the forward-looking statements including, without
limitation, disruption of production or supplies, changes in market
conditions, political events, pending or future claims or
litigation, competitive factors, technology advances, actions of
regulatory agencies, and changes in laws, government regulations,
labeling or product approvals or the application or interpretation
thereof. Other risk factors are described in STERIS’s other
securities filings, including Item 1A of our Annual Report on Form
10-K for the year ended March 31, 2022 and subsequently filed
Quarterly Reports on Form 10-Q. Many of these important factors are
outside of STERIS’s control. No assurances can be provided as to
any result or the timing of any outcome regarding matters described
in STERIS’s securities filings or otherwise with respect to any
regulatory action, administrative proceedings, government
investigations, litigation, warning letters, cost reductions,
business strategies, earnings or revenue trends or future financial
results. References to products are summaries only and should not
be considered the specific terms of the product clearance or
literature. Unless legally required, STERIS does not undertake to
update or revise any forward-looking statements even if events make
clear that any projected results, express or implied, will not be
realized. Other potential risks and uncertainties that could cause
actual results to differ materially from those in the
forward-looking statements include, without limitation, (a) the
impact of the COVID-19 pandemic or similar public health crises on
STERIS’s operations, supply chain, material and labor costs,
performance, results, prospects, or value, (b) STERIS's ability to
achieve the expected benefits regarding the accounting and tax
treatments of the redomiciliation to Ireland (“Redomiciliation”),
(c) operating costs, Customer loss and business disruption
(including, without limitation, difficulties in maintaining
relationships with employees, Customers, clients or suppliers)
being greater than expected, (d) STERIS’s ability to successfully
integrate the businesses of Cantel Medical into our existing
businesses, including unknown or inestimable liabilities, or
increases in expected integration costs or difficulties in
connection with the integration of Cantel Medical, (e) STERIS’s
ability to meet expectations regarding the accounting and tax
treatment of the Tax Cuts and Jobs Act (“TCJA”) or the possibility
that anticipated benefits resulting from the TCJA will be less than
estimated, (f) changes in tax laws or interpretations that could
increase our consolidated tax liabilities, including changes in tax
laws that would result in STERIS being treated as a domestic
corporation for United States federal tax purposes, (g) the impact
of inflation and the potential for increased pressure on pricing or
costs that leads to erosion of profit margins, (h) the possibility
that market demand will not develop for new technologies, products
or applications or services, or business initiatives will take
longer, cost more or produce lower benefits than anticipated, (i)
the possibility that application of or compliance with laws, court
rulings, certifications, regulations, regulatory actions, including
without limitation any of the same relating to FDA, EPA or other
regulatory authorities, government investigations, the outcome of
any pending or threatened FDA, EPA or other regulatory warning
notices, actions, requests, inspections or submissions, or other
requirements or standards may delay, limit or prevent new product
or service introductions, affect the production, supply and/or
marketing of existing products or services or otherwise affect
STERIS’s performance, results, prospects or value, (j) the
potential of international unrest, including the Russia-Ukraine
military conflict, economic downturn or effects of currencies, tax
assessments, tariffs and/or other trade barriers, adjustments or
anticipated rates, raw material costs or availability, benefit or
retirement plan costs, or other regulatory compliance costs, (k)
the possibility of reduced demand, or reductions in the rate of
growth in demand, for STERIS’s products and services, (l) the
possibility of delays in receipt of orders, order cancellations, or
delays in the manufacture or shipment of ordered products, due to
supply chain issues or otherwise, or in the provision of services,
(m) the possibility that anticipated growth, cost savings, new
product acceptance, performance or approvals, or other results may
not be achieved, or that transition, labor, competition, timing,
execution, regulatory, governmental, or other issues or risks
associated with STERIS’s businesses, industry or initiatives
including, without limitation, those matters described in our
Annual Report on Form 10-K for the year ended March 31, 2022, and
other securities filings, may adversely impact STERIS’s
performance, results, prospects or value, (n) the impact on STERIS
and its operations, or tax liabilities, of Brexit or the exit of
other member countries from the EU, and the Company’s ability to
respond to such impacts, (o) the impact on STERIS and its
operations of any legislation, regulations or orders, including but
not limited to any new trade or tax legislation, regulations or
orders, that may be implemented by the U.S. administration or
Congress, or of any responses thereto, (p) the possibility that
anticipated financial results or benefits of recent acquisitions,
including the acquisition of Cantel Medical and Key Surgical, or of
STERIS’s restructuring efforts, or of recent divestitures,
including anticipated revenue, productivity improvement, cost
savings, growth synergies and other anticipated benefits, will not
be realized or will be other than anticipated, (q) the increased
level of STERIS’s indebtedness incurred in connection with the
acquisition of Cantel Medical limiting financial flexibility or
increasing future borrowing costs, (r) rating agency actions or
other occurrences that could affect STERIS’s existing debt or
future ability to borrow funds at rates favorable to STERIS or at
all, (s) the potential impact of the acquisition of Cantel Medical
on relationships, including with suppliers, Customers, employees
and regulators, and (t) the effects of contractions in credit
availability, as well as the ability of STERIS’s Customers and
suppliers to adequately access the credit markets when needed.
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