Haemonetics Reports Fourth Quarter and Fiscal 2026 Results; Provides Fiscal 2027 Guidance (Form 8-K)

Haemonetics Reports Fourth Quarter and Fiscal 2026 Results;

Provides Fiscal 2027 Guidance

Boston, MA, May 7, 2026 - Haemonetics Corporation (NYSE: HAE) reported financial results for its fourth quarter and fiscal 2026, which ended March 28, 2026:

Fourth Quarter Fiscal 2026

Fiscal 2026

n

Revenue, increase/(decrease)

$346 million, 4.8%

$1.334 billion, (2.0)%

n

Organic(1) revenue increase

4.5%

1.1%

n

Organic ex-CSL(2) revenue increase

8.6%

9.5%

n

(Loss) earnings per diluted share

$(0.44)

$2.05

n

Adjusted earnings per diluted share

$1.29

$4.96

n

Cash flow from operating activities

$71 million

$293 million

n

Free cash flow

$45 million

$210 million

__________

(1) Excludes the impacts of currency fluctuation, the divestiture of the Whole Blood product line as of its completion in January 2025 and the exit of certain liquid solution products. The Company's acquisition of Vivasure Medical Limited ("Vivasure") in January 2026 had no impact on organic revenue growth rates and is not separately quantified.

(2) In addition to the adjustments for organic revenue, further excludes the impact of fiscal 2025 disposable sales to CSL Plasma under its transitional U.S. supply agreement with the Company.

Chris Simon, Haemonetics' CEO, stated: "Strong fourth quarter performance was largely driven by our core platforms, with outperformance in Plasma and Blood Management Technologies, and sequential improvement in Interventional Technologies. We successfully completed our four-year long-range plan, having built a more diversified, sustainable, and durable business and delivering impressive results against ambitious multi-year goals. With a strengthened competitive position and focus on disciplined execution, we have momentum for fiscal 2027 and beyond."

GAAP RESULTS

Fourth quarter fiscal 2026 revenue was $346.4 million, up 4.8% compared with the fourth quarter of fiscal 2025. Business unit revenue and growth rates compared with the prior year period were as follows:

			Fourth Quarter Fiscal 2026 Reported
			(Dollars in Millions)
Plasma			$130.3						2.8%
Blood Center			$56.4						0.7%
Hospital			$159.6						8.0%
Total net revenue			$346.4						4.8%

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Gross margin was 57.2% in the fourth quarter of fiscal 2026, compared with 58.4% in the fourth quarter of fiscal 2025. The primary driver of the decrease in the gross margin percentage was a charge taken for pre-acquisition inventory and inventory purchase commitments transferred from the Attune Medical acquisition that was deemed not recoverable, partially offset by decreased restructuring costs related to portfolio rationalization initiatives and decreased amortization of fair value inventory step-up.

Operating expenses in the fourth quarter of fiscal 2026 were $221.2 million, an increase of $99.5 million, or 81.8%, when compared with the prior year period, driven by the impairment of intangible assets related to Attune Medical, partially offset by remeasurements of contingent consideration. Due to these charges, the Company had operating losses of $23.0 million and a (6.6)% operating margin in the fourth quarter of fiscal 2026, compared with operating income of $71.3 million and an operating margin of 21.6% in the fourth quarter of fiscal 2025. The income tax rates were 29.1% and 18.0% in the fourth quarters of fiscal 2026 and fiscal 2025, respectively. Additionally, due to the charges above, fourth quarter fiscal 2026 net loss and loss per diluted share were $20.1 million and $(0.44), respectively, compared with net income and earnings per diluted share of $58.0 million and $1.17, respectively, in the fourth quarter of fiscal 2025.

ADJUSTED RESULTS

Fourth quarter fiscal 2026 organic revenue growth was 4.5% and organic ex-CSL revenue growth was 8.6% compared with the same period of fiscal 2025. Year-over-year organic and organic ex-CSL growth rates by business unit were as follows:

			Fourth Quarter Fiscal 2026
			Organic						Organic ex-CSL
Plasma			1.8%						12.7%
Blood Center			5.5%						5.5%
Hospital			6.5%						6.5%
Total net revenue			4.5%						8.6%

Fourth quarter fiscal 2026 adjusted gross margin was 59.7%, down 50 basis points compared with the prior year period. The primary drivers for the decrease in adjusted gross margin percentage were less favorable mix and impacts from tariffs, partially offset by higher volume and pricing benefits.

Adjusted operating expenses were $122.2 million, up $5.5 million, or 4.7%, when compared with the prior year period. The increase in adjusted operating expenses was largely driven by the acquisition of Vivasure, impacts from tariff and performance-based compensation as well as additional growth investments. Adjusted operating income for the fourth quarter of fiscal 2026 was $84.5 million, up $2.2 million or 2.6%, and adjusted operating margin was 24.4%, down 50 basis points, compared with the same period of fiscal 2025. The adjusted income tax rates were 24.8% and 22.2% in the fourth quarters of fiscal 2026 and fiscal 2025, respectively.

Fourth quarter fiscal 2026 adjusted net income was $59.7 million, down $1.8 million, or 3.0%, and adjusted earnings per diluted share was $1.29, up 4.0%, each when compared with the same period of fiscal 2025.

BALANCE SHEET AND CASH FLOW

Cash on hand at March 28, 2026 was $245.4 million, a decrease of $61.3 million since March 29, 2025, primarily driven by cash outflows for the acquisition of Vivasure and share repurchases, partially offset by cash flow provided from operating activities.

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Fourth quarter fiscal 2026 cash flows from operating activities was $70.9 million, down $45.6 million, or 39.1%, and free cash flow was $44.5 million, down $50.4 million, or 53.1%, each when compared with the same period of fiscal 2025. The primary driver of decreased operating cash flow and free cash flow as compared to the same period of fiscal 2025 was the timing of income taxes paid and unfavorable working capital adjustments driven by the timing of cash collections.

SHARE REPURCHASE PROGRAM

As part of its previously announced $500.0 million share repurchase program, the Company repurchased 1,579,255 shares of its common shares for $100.0 million during the fourth quarter of fiscal 2026. Specifically, the Company repurchased 360,457 shares for $25.0 million pursuant to a Rule 10b5-1 trading plan and subsequently repurchased 1,218,798 shares for $75.0 million pursuant to an accelerated share repurchase agreement entered into with Goldman, Sachs & Co. The total remaining authorization for repurchases of the Company's common stock under the 2025 share repurchase program is $325.0 million.

FISCAL 2027 GUIDANCE

The Company issued its fiscal 2027 GAAP total revenue and organic revenue growth guidance as follows:

			Total Company
Reported Revenue			4 - 7%
53rd week impact			(~2%)
Currency impact			0 - 1%
Organic Revenue(1)			3 - 6%
Adjusted operating margin			50 - 100 bps expansion YoY
Adjusted earnings per diluted share			Comparable to revenue growth
Free cash flow conversion(2)			~80%

__________

(1) Includes approximately mid-single-digit growth in each of Plasma and Hospital and a mid-single-digit decline in Blood Center. Organic growth guidance also includes nominal historical pre-acquisition revenue of Vivasure to provide a comparable view of period-over-period performance.

(2) Free cash flow conversion is calculated as free cash flow divided by adjusted net income.

WEBCAST CONFERENCE CALL AND RESULTS ANALYSIS

The Company will host a conference call with investors and analysts to discuss fourth quarter and full year fiscal 2026 results on Thursday, May 7, 2026 at 8:00 a.m. ET. The call can be accessed via teleconference at https://register-conf.media-server.com/register/BI5821cb82b2104f4f8171096b52ca101c. Once registration is completed, participants will receive a dial-in number along with a personalized PIN to access the call. While not required, it is recommended that participants join 10 minutes prior to the event start.

Alternatively, a live webcast of the call can be accessed on Haemonetics' investor relations website at the following direct link: https://edge.media-server.com/mmc/p/7d678otf.

The Company has also provided a supplemental earnings presentation for its fourth quarter of fiscal 2026, which is available on its website and can be found at the following direct link: https://haemonetics.gcs-web.com/static-files/a9288d0a-0c42-4d85-a9f1-ac16ee243161.

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ABOUT HAEMONETICS

Haemonetics is a global medical technology company dedicated to improving the quality, effectiveness and efficiency of health care. Our innovative solutions addressing critical medical needs include a suite of hospital technologies designed to advance standards of care and help enhance outcomes for patients; end-to-end plasma collection technologies to optimize operations for plasma centers; and products to enable blood centers to collect in-demand blood components. To learn more about Haemonetics, visit www.haemonetics.com.