Sotera Health Company - SHC STOCK NEWS

Sotera Health Company (NASDAQ: SHC), a leading global provider of sterilization solutions, lab testing, and healthcare advisory services, has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference. Chairman and CEO Michael B. Petras, Jr. will deliver a presentation on Tuesday, January 14, 2025, at 11:15 a.m. Eastern Time.

The company's senior leadership team, including CFO Jon Lyons and VP of Investor Relations Jason Peterson, will engage in investor meetings throughout the conference. Investors and interested parties can access a live webcast of the presentation through Sotera Health's Investor Relations website section under Presentations & Events. The presentation materials will be available for viewing, and a replay will be accessible within 48 hours after the conference concludes.

Sotera Health Company (Nasdaq: SHC) has appointed Vincent K. Petrella as Lead Independent Director, effective January 2, 2025. Petrella, who has been serving on the company's Board of Directors since 2020, will act as a key liaison among the Board, management, and shareholders.

The appointment leverages Petrella's decades of public company executive leadership and board experience, including his role as chairperson of Sotera Health's Audit Committee. Michael B. Petras, Jr., Sotera Health Chairman and CEO, highlighted Petrella's valuable experience, insight, and engagement since joining the Board.

Firstlight Management LP, a shareholder of Sotera Health Company (SHC), has sent a letter to the Board of Directors urging the sale of its Nelson Labs subsidiary. The investment firm argues that Nelson Labs has underperformed with a mere 2.7% EBITDA CAGR over 2018-2024E, significantly lower than Sterigenics (9.8%) and Nordion (8.2%). The proposed sale could generate approximately $1.1bn in gross proceeds at a 15.2x EBITDA multiple, potentially reducing SHC's net leverage ratio from 3.7x to 2.2x on 2024E EBITDA. The transaction could result in ~13% lift to 2025E EPS and allow management to focus on core sterilization businesses.

Sotera Health Company (Nasdaq: SHC) announced its 2024 Investor Day in New York City, where management will present the company's strategic positioning and future growth plans. The company, which provides sterilization solutions and lab testing services, will outline its 2025-2027 financial plan targeting 5-7% organic revenue growth, 5-8% Adjusted EBITDA growth, and over $500 million in cumulative Free Cash Flow. Management will discuss their $18 billion serviceable addressable market and demonstrate the company's strength while fulfilling its Safeguarding Global Health® mission.

Sotera Health (SHC) reported strong Q3 2024 financial results with net revenues increasing 8.5% to $285 million. The company achieved net income of $17 million ($0.06 per diluted share), compared to a net loss of $14 million in Q3 2023. Adjusted EBITDA grew 9.0% to $146 million.

Year-to-date performance showed net revenues up 9.6% to $810 million, with net income of $32 million. All three business segments - Sterigenics, Nordion, and Nelson Labs - reported revenue growth. The company reaffirmed its 2024 outlook for net revenues and Adjusted EBITDA growth of 4.0% to 6.0%.

Sotera Health Company (Nasdaq: SHC), a leading global provider of sterilization solutions and lab testing services for the healthcare industry, has announced key dates for investors:

1. Third-Quarter 2024 Earnings Release: Financial results will be released on November 5, 2024, before market open. A conference call will follow at 9:00 a.m. Eastern Time.

2. Inaugural Investor Day: Scheduled for November 20, 2024, at 12:30 p.m. Eastern Time in New York City. The event will feature presentations by management and a Q&A session.

Both events will be accessible via webcast through the company's Investor Relations website. Dial-in numbers for the earnings call and pre-registration links for the Investor Day webcast are provided. Replays and presentation materials will be available on the company's website following the events.

Sotera Health Company (Nasdaq: SHC) has announced a secondary offering of 25,000,000 shares of its common stock. The shares are being sold by affiliates of Warburg Pincus and GTCR , not by the company itself. As a result of this offering, Sotera Health's sponsors are expected to lose their majority ownership, affecting certain sponsor rights. Citigroup is acting as the underwriter for the offering, which will be conducted through various transactions on Nasdaq, over-the-counter, or through negotiated deals. Sotera Health will not receive any proceeds from the offering but will cover the expenses as per its Amended and Restated Registration Rights Agreement.

Sotera Health Company (Nasdaq: SHC) reported its Q2 2024 financial results, showing 8.3% growth in net revenues to $277 million. However, net income decreased to $9 million ($0.03 per diluted share) from $24 million ($0.08 per diluted share) in Q2 2023, primarily due to debt refinancing charges. Adjusted EBITDA increased by 6.9% to $137 million, while Adjusted EPS slightly declined to $0.19.

For the first half of 2024, net revenues increased by 10.3% to $525 million, with Adjusted EBITDA up 9.8% to $249 million. The company successfully refinanced its debt structure, extending maturities to 2031. Sotera Health reaffirmed its 2024 outlook, projecting 4-6% growth in net revenues and Adjusted EBITDA.

Sotera Health Company (Nasdaq: SHC) has appointed Christopher Simon as a new independent director to its Board of Directors. Simon will serve on the Leadership Development and Compensation Committee. He brings over 30 years of experience in business transformation and growth, currently serving as President and CEO of Haemonetics (NYSE: HAE). Simon's background includes roles at McKinsey & Company, Baxter Healthcare , and as a U.S. Army Infantry Officer.

Michael B. Petras, Jr., Chairman and CEO of Sotera Health, expressed excitement about Simon's addition, citing his leadership experience as a public company CEO and extensive commercial and strategic expertise in the life sciences industry as valuable assets for the company's growth. Simon also serves on the board of directors of AdvaMed, a global medical technology trade association.