STERIS plc reported significant financial developments for the three and six months ended September 30, 2024, reflecting a robust performance across its business segments. Total revenues for the three months reached $1,328.9 million, a 7.3% increase from $1,238.2 million in the same period of 2023. For the six months, revenues rose 7.7% to $2,608.4 million, compared to $2,421.6 million in the prior year. This growth was primarily driven by the Healthcare segment, which saw revenues increase to $944.2 million for the quarter, up from $870.1 million, and $1,845.5 million for the six months, compared to $1,688.9 million.

Gross profit for the three months ended September 30, 2024, was $578.8 million, up from $546.2 million in 2023, while for the six months, it increased to $1,151.2 million from $1,075.2 million. However, the gross profit percentage slightly declined to 43.6% for the quarter and 44.1% for the six months, attributed to higher labor and overhead costs, among other factors.

Operating income also improved, with $219.7 million for the three months, compared to $191.6 million in the prior year, and $405.2 million for the six months, up from $389.3 million. Net income for the three months was $151.2 million, a notable increase from $116.3 million in 2023, while for the six months, net income rose to $296.7 million from $240.1 million.

Strategically, STERIS completed the divestiture of its Dental segment, selling it for $787.5 million, with the transaction closing on May 31, 2024. This segment's results were reclassified as discontinued operations. Additionally, the company executed several tuck-in acquisitions totaling approximately $17.5 million, including the acquisition of surgical instrumentation assets from Becton, Dickinson and Company for $539.8 million.

The company also initiated a restructuring plan in May 2024, targeting a strategic shift in its Healthcare surgical business in Europe, which involves the elimination of fewer than 300 positions. Total pre-tax restructuring expenses recorded since the plan's inception amounted to $75.3 million, with additional costs expected to reach approximately $25 million.

Financially, STERIS reported total current assets of $1,937.9 million as of September 30, 2024, down from $2,869.1 million at the end of March 2024. Total liabilities decreased to $3,631.7 million from $4,748.4 million, while total shareholders’ equity rose to $6,593.5 million from $6,302.2 million. The debt-to-total capital ratio improved to 25.3% from 33.7% at the end of the previous fiscal period.