Haemonetics Raises FY2027 Revenue Outlook on Plasma Growth

Haemonetics Corporation (NYSE: HAE) increased its fiscal 2027 revenue outlook after second-quarter sales rose 9.3%, led by strong growth in its Plasma business. The medical technology company now expects full-year reported revenue growth of 8% to 11%, up from its previous 5% to 8% range, while narrowing its forecast for adjusted operating margin expansion.

Revenue for the quarter ended September 26, 2026, reached $357.8 million, compared with $327.3 million a year earlier. Organic revenue, which excludes currency effects and certain product exits and incorporates nominal historical pre-acquisition revenue from Vivasure, increased 10.0%.

GAAP earnings per diluted share rose 23% to $1.00 from $0.81. Adjusted EPS increased 6% to $1.35, while adjusted net income was $62.6 million, up from $60.3 million.

GAAP operating margin expanded 310 basis points to 21.0%, and gross margin increased 220 basis points to 61.7%. On an adjusted basis, gross margin improved 140 basis points to 61.9%, but operating margin contracted 40 basis points to 26.3%. Adjusted net income margin declined 90 basis points to 17.5%.

Plasma growth leads business performance

Apheresis revenue increased 12.6% on a reported basis and 13.6% organically to $204.8 million. Within the segment, Plasma revenue climbed 16.5% to $162.6 million, representing organic growth of 17.7%. Revenue from other Apheresis products was unchanged at $42.2 million.

Apheresis segment operating income rose to $62.4 million from $57.4 million, although its operating margin declined 110 basis points to 30.5% as selling, general and administrative expenses increased.

MedSurg revenue advanced 5.1% to $153.0 million, with organic growth of 5.5%. Blood Management Technologies revenue increased 7.0% to $92.4 million, while Interventional Technologies revenue rose 2.4% to $60.5 million, or 3.2% organically. MedSurg’s segment operating margin edged up 20 basis points to 20.7%.

Product launches and regulatory milestones

Haemonetics said CSL currently expects to complete the rollout of the NexSys system with Persona PLUS across all of its existing U.S. plasma collection centers by the end of calendar 2027.

The company also launched its PacePro guidewire in the U.S. following FDA 510(k) clearance. PacePro is designed for temporary intracardiac pacing during transcatheter aortic valve replacement procedures and is intended to complement Haemonetics’ SavvyWire sensor-guided platform. The company plans to commercialize PacePro through its existing Interventional Technologies sales organization without meaningful additional salesforce or infrastructure investment.

In Vascular Closure, Haemonetics received FDA approval for PerQSeal Elite, expanding its U.S. arterial closure portfolio to cover large-bore procedures. The presentation estimated the global large-bore closure market at about $300 million and said it was growing at a high-single-digit rate. Haemonetics also received CE Mark certification and Japanese regulatory approval for an expanded indication of VASCADE MVP XL.

Cash flow strengthens balance-sheet flexibility

Operating cash flow increased 15% to $128.1 million, while free cash flow rose 17% to $103.8 million. Free cash flow equaled 166% of adjusted net income for the quarter and 111% over the trailing 12 months.

At September 26, Haemonetics had $261 million in cash and cash equivalents and total debt of $1.12 billion, down from $1.23 billion at the end of March. Net debt fell to $863 million from $979 million, while available borrowing capacity increased to $549 million. The company’s net leverage ratio declined to 2.46 from 2.73.

Full-year revenue outlook rises as margin range tightens

Haemonetics now forecasts fiscal 2027 organic revenue growth of 6% to 9%, compared with its prior range of 4% to 7%. The company expects high-single-digit Apheresis growth, replacing its earlier low- to mid-single-digit forecast, while its outlook for mid-single-digit MedSurg growth remains unchanged.

Adjusted EPS growth is still expected to be comparable to reported revenue growth. The company now projects free cash flow conversion above 80%, compared with its previous estimate of approximately 80%.

At the same time, Haemonetics narrowed its expected year-over-year adjusted operating margin expansion to zero to 50 basis points from 50 to 100 basis points previously. The presentation did not provide a reconciliation of forward-looking adjusted operating margin, adjusted EPS or free cash flow conversion guidance to comparable GAAP measures because the timing and impact of potential adjustments remain uncertain.

Risks identified by the company include product demand and availability, competition and pricing pressure, regulatory approval timing, supply-chain and manufacturing disruptions, cybersecurity incidents, tariffs and inflation, and the ability to realize anticipated benefits from acquisitions, divestitures and cost-saving initiatives.