Analyst Consensus ?
ConsensusBuy13 ratings
Bullish1184.6%
Neutral215.4%
Bearish00.0%
STERIS plc · STE · FY2026 Q3 · Calendar Q1 2026
STERIS Maintains FY2026 Guidance Despite Tariff and Margin Pressure
STERIS's growth case remains supported by broad volume growth, strong AST capital equipment demand and onshoring-related opportunities. The near-term counterweight is that tariffs, inflation and pricing pressure are compressing margins, while management maintained rather than raised FY2026 guidance.
Reported After market closeNYSEHealthcare
$20.46B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.53
Consensus $2.53
EPS surprise
0.0%
Reported versus consensus
Reported revenue
$1.50B
Consensus $1.48B
Revenue surprise
+1.0%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-7.7%
Event window
SPY move
-1.2%
Same window
Abnormal move
-6.5%
Stock minus SPY
Volume
7.5×
Versus trailing sessions
Subsequent drift
-5.5%
Up to 20 sessions
STESPY benchmark
Ask FN2 about STE FY2026 Q3
Transcript, numbers and history already loaded
Why did STE fall 7.7% after beating EPS estimates in FY2026 Q3?What changed in STE's guidance and outlook in FY2026 Q3?Give me the bull and bear case for STE after FY2026 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current quarter added evidence of strong AST capital equipment demand, up 103% year over year, while margins remained pressured by tariffs and inflation. Compared with the prior quarter, guidance moved from raised to maintained, and management's tone became more cautious.
Guidance delta
FY2026 revenue and EPS guidance was maintained at 8%-9% revenue growth and $10.00-$10.30 EPS; capital spending remains $375 million.
Key takeaways
- Third-quarter revenue and EPS grew about 9% year over year, while margins faced tariff and inflation pressure.
- AST capital equipment revenue grew 103% year over year, and Life Sciences backlog remained above $100 million.
- Management highlighted onshoring demand, ASC-related opportunities and EMEA go-to-market work as growth supports.
- Tariff mitigation and cost-efficiency actions remain important as the company looks toward the fourth quarter.
Management priorities
- Maintain FY2026 revenue and EPS guidance.
- Continue cost-efficiency and tariff mitigation initiatives.
- Expand the EMEA go-to-market structure.
- Pursue additional U.S. onshoring capacity projects.
- Consider selective bolt-on acquisitions that meet financial criteria.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$208.77Current
$245Low
$264.75Average
$275High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 25, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| UBS | Buy | Buy | Maintain | Aug 7, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Aug 7, 2026 |
| Keybanc | Overweight | Overweight | Maintain | May 13, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Aug 8, 2025 |
| JMP Securities | Market Outperform | Market Outperform | Maintain | May 16, 2025 |
| Stephens & Co. | Overweight | Overweight | Maintain | May 15, 2025 |
| Needham | Hold | Hold | Maintain | Apr 7, 2025 |
| Baird | Outperform | Outperform | Maintain | Aug 11, 2021 |
| Sidoti & Co. | Buy | Buy | Maintain | Nov 25, 2020 |
| Raymond James | Outperform | Strong Buy | Downgrade | Nov 25, 2020 |
| Griffin Securities | Hold | Buy | Downgrade | Nov 25, 2020 |
| Bank of America | Buy | Buy | Maintain | Nov 25, 2020 |
| B of A Securities | Buy | Buy | Maintain | Mar 15, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $208.77. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Patrick Wood | $275 | $218.4 | +31.7% | Jul 28, 2026 |
| Piper Sandler | Jason Bednar | $270 | $216.18 | +29.3% | May 21, 2026 |
| KeyBanc | Brett Fishbin | $269 | $210.85 | +28.8% | May 13, 2026 |
| Piper Sandler | Jason Bednar | $260 | $221.15 | +24.5% | Oct 24, 2024 |
| KeyBanc | Brett Fishbin | $265 | $241.1 | +26.9% | Sep 3, 2024 |
| Piper Sandler | Jason Bednar | $225 | $225.94 | +7.8% | May 10, 2024 |
| Wolfe Research | Mike Polark | $245 | $216.65 | +17.4% | Apr 4, 2024 |
Track every rating change on STE the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationSTERIS plc provides infection prevention products and services in the United States, Ireland, and internationally. The company operates through three segments: Healthcare, Applied Sterilization Technologies, and Life Sciences. It offers a range of products including cleaning chemistries, sterility assurance products, automated endoscope reprocessing systems, surgical tables, lights, and connectivity solutions. It also provides services such as equipment maintenance, instrument repair, and contract sterilization for medical device and pharmaceutical manufacturers.
Historical context
All STE earningsHealthcare peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| COO The Cooper Companies, Inc. | FY2026 Q3 · Calendar Q3 2026 | +2.7% | -14.7% | CooperCompanies beats expectations as inventory reduction weighs on vision revenue |
| MDT Medtronic plc | FY2027 Q1 · Calendar Q3 2026 | +4.3% | +1.5% | Medtronic raises FY27 outlook as growth broadens across platforms |
Latest beats and misses
Who reports nextBeat on EPS
- CTASFY2027 Q1 · September 23, 2026+3.0% EPS-3.4% move
- PAYXFY2027 Q1 · September 23, 2026+1.5% EPS-8.8% move
- GISFY2027 Q1 · September 23, 2026+4.6% EPS+1.0% move
- AZOFY2026 Q4 · September 22, 2026+3.6% EPS+3.3% move
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
Get the STE recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-25T00:30:54.699314+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-25T00:30:54.696552+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-25. For educational purposes only; not investment advice.