STERIS plc reported a strong financial performance for the fiscal year ending March 31, 2026, with total revenues reaching $5.94 billion, an increase of 8.7% from $5.46 billion in the previous fiscal year. The company's income from operations also saw significant growth, rising 27.1% to $1.10 billion compared to $866.6 million in fiscal 2025. This increase was attributed to higher pricing, increased volume, and lower restructuring costs, despite facing challenges from inflation and tariffs. The gross profit margin improved slightly to 44.2%, up from 44.0% in the prior year.
In terms of strategic developments, STERIS completed two tuck-in acquisitions during fiscal 2026, totaling approximately $23.4 million, which expanded its product and service offerings in the Healthcare segment. The company also made a significant investment of $134 million in a noncontrolling equity investment in a healthcare product manufacturer. The divestiture of its Dental segment, completed in May 2024, was a notable change, allowing STERIS to focus on its core operations in Healthcare, Applied Sterilization Technologies (AST), and Life Sciences.
Operationally, STERIS reported a backlog of $490.7 million as of March 31, 2026, an increase from $452.9 million the previous year, driven by the timing of shipments and the benefits of acquisitions. The Healthcare segment accounted for the majority of this backlog, with $392.1 million. The company averaged approximately 18,000 employees during the fiscal year, reflecting a slight increase from 17,787 in fiscal 2025. STERIS continues to emphasize its commitment to employee engagement and development, with a turnover rate of 13% in fiscal 2026.
Looking ahead, STERIS expressed optimism for fiscal 2027 and beyond, focusing on managing costs, internal product and service development, and potential acquisitions to drive growth. The company aims to invest in greater capacity and efficiency while continuing to enhance its product offerings. The outlook remains positive, supported by the ongoing demand for healthcare services and the aging global population, which is expected to drive further growth in the healthcare sector.
About STERIS plc
STERIS plc is a global provider of infection prevention, sterilization, and surgical support products and services. Its core segments—Healthcare, Applied Sterilization Technologies, and Life Sciences—serve hospitals, medical device manufacturers, and pharmaceutical companies. The company offers consumables, capital equipment, and related services, emphasizing innovation, quality, and regulatory compliance to support safer healthcare environments worldwide.
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