Haemonetics Reports 2.7% Revenue Decline in Q3 Fiscal 2026, Operating Income Increases 14.2%

Haemonetics Corporation reported a decline in net revenues for the third quarter of fiscal 2026, totaling $338.97 million, down 2.7% from $348.54 million in the same period last year. For the nine months ending December 27, 2025, revenues decreased by 4.1% to $987.68 million compared to $1.03 billion in the prior year. The decrease was primarily attributed to a significant drop in the Blood Center segment, largely due to the divestiture of the Whole Blood product line, which was completed in January 2025. However, the Plasma segment saw a revenue increase, driven by growth in U.S. plasma collections and benefits from prior innovations.

Despite the revenue decline, Haemonetics experienced an increase in operating income, which rose 14.2% to $67.40 million for the quarter and 19.5% to $179.76 million for the nine-month period. This improvement was attributed to pricing benefits across all business units and reduced restructuring costs related to portfolio rationalization initiatives. Gross profit also increased, reaching $202.39 million for the quarter, a 4.6% rise from the previous year, and $589.37 million for the nine months, up 6.0%.

In terms of strategic developments, Haemonetics completed the acquisition of Vivasure Medical Limited on January 9, 2026, for an upfront consideration of $116.4 million, which includes potential contingent payments based on future sales growth. This acquisition is expected to enhance the company's Hospital business unit, particularly in interventional cardiology. Additionally, the company has been actively repurchasing shares, with $25 million spent on repurchases during the fourth quarter of fiscal 2026, leaving $400 million remaining under its share repurchase program.

Operationally, Haemonetics reported a cash and cash equivalents balance of $363.37 million as of December 27, 2025, an increase from $306.76 million at the end of the previous fiscal year. The company also noted improvements in its cash flow from operating activities, which rose significantly to $222.28 million for the nine months ended December 27, 2025, compared to $65.17 million in the same period last year. This increase was driven by higher net income and adjustments for non-cash expenses, despite cash outflows for working capital.

Looking ahead, Haemonetics remains focused on its strategic initiatives, including the market and regional alignment initiative aimed at improving operational performance and reducing costs. The company anticipates that these efforts, along with the integration of recent acquisitions, will position it for future growth and enhance shareholder value.