Haemonetics Corporation (NYSE:HAE) Q2 2023 Earnings Conference Call November 7, 2022 8:00 AM ET

Company Participants

Olga Guyette - Director, Investor Relations and Treasury

Chris Simon - Chief Executive Officer

Stewart Strong - President of Global Hospital Business

James D'Arecca - Chief Financial Officer

Conference Call Participants

Anthony Petrone - Mizuho

Drew Ranieri - Morgan Stanley

Andrew Cooper - Raymond James

David Turkaly - JMP Securities

Mike Matson - Needham & Company

Operator

Good day, and welcome to the Haemonetics Corporation Second Quarter Fiscal 2023 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers' presentation there'll be a question-and-answer session, and instructions will be given at that time. As a reminder, this call may be recorded.

I would now like to turn the call over to Olga Guyette, Senior Director of Investor Relations and Treasury. You may begin.

Olga Guyette

Good morning, everyone. Thank you for joining us for Haemonetics' second quarter fiscal '23 conference call and webcast. I'm joined today by Chris Simon, our CEO; Stewart Strong, President of our Global Hospital Business; and James D'Arecca, our CFO.

This morning, we posted our second quarter and first-half fiscal '23 results to our Investor Relations Web site, along with updates to our fiscal '23 guidance and the analytical tables with the information that we'll refer to on this call. Unless otherwise noted, all revenue growth rates we'll discuss today are organic, and exclude the impact of currency fluctuation, strategic exits of product lines, acquisitions and divestitures.

Additionally, to help investors understand Haemonetics' ongoing business performance; we will refer to non-GAAP financial measures. These measures exclude certain charges and income items. For additional details about excluded items, comparisons with the same period of fiscal '22, and reconciliations to our GAAP results, please refer to our second quarter and first-half fiscal '23 earnings release posted on our IR Web site.

Our remarks today will also include forward-looking statements, and our actual results may differ materially from the anticipated results. Please refer to the safe harbor statement in the earnings release, and other filings with the SEC for a complete list of risk factors that may impact our results. Additionally, in order to protect customer confidentiality, we will not be able to discuss any customer-specific details except as disclosed previously.

And now, I'd like to turn it over to Chris.

Chris Simon

Thanks, Olga. Good morning and thank you all for joining. Today, we reported second quarter organic revenue growth of 27%, and adjusted earnings per diluted share of $0.83, an increase of 38% compared to the second quarter of the prior year. Our second quarter and year-to-date results are evidence of the accelerating momentum in our businesses. The macroeconomic environment is challenging, but we have taken actions and are well-positioned to navigate the headwinds. Demand for our products and services has never been stronger. We are helping fuel growth in the plasma industry by setting the standard for plasma collections, enabling our customers to collect record volumes to replenish depleted inventories.