Haemonetics Corporation (NYSE:HAE) Q2 2024 Earnings Conference Call November 2, 2023 8:00 AM ET

Company Participants

Olga Guyette – Senior Director, Investor Relations and Treasury

Chris Simon – Chief Executive Officer

Stewart Strong – President of our Global Hospital business

James D'Arecca – Chief Financial Officer

Conference Call Participants

Anthony Petrone – Mizuho Group

Lee Jagoda – CJS Securities

Andrew Cooper – Raymond James

Mike Matson – Needham & Company

Michael Petusky – Barrington Research

Operator

Good day and thank you for standing by, and welcome to the Second Quarter 2024 Haemonetics Corporation Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Olga Guyette, Senior Director, Investor Relations and Treasury. Please go ahead.

Olga Guyette

Good morning, everyone. Thank you for joining us for Haemonetics second quarter and first half fiscal year 2024 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 year 2024 results to our Investor Relations website, along with our updated fiscal 2024 guidance.

Before we begin, just a quick reminder that all revenue growth rates discussed today are organic and exclude the impact of currency fluctuations. We'll also refer to other non-GAAP financial measures to help investors understand Haemonetics' ongoing business performance. Please note that these measures exclude certain charges and income items. For a full list of excluded items, reconciliations to our GAAP results in comparisons with the prior year periods, please refer to our second quarter and first half fiscal year 2024 earnings release available on our website.

Our remarks today include forward-looking statements, and our actual results may differ materially from the anticipated results. Factors that may cause our results to differ include those referenced in the safe harbor statement in today's earnings release and in our other SEC filings. We do not undertake any obligation to update these forward-looking statements.

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 organic revenue growth of 8% in the second quarter and 14% in the first half of fiscal 2024 as our momentum continues to build, and we advance our leadership in Plasma and Hospital. Adjusted earnings per diluted share in the second quarter was $0.99, 19% growth over prior year. We are raising our fiscal year 2024 total company organic revenue growth guidance from 7% to 10% to 8% to 10%, which represents an increase of 50 basis points at the midpoint of this updated range.