Sotera Health reported Q3 2025 net revenues of $311 million, up 9.1% from $285 million in the same quarter of 2024, and net income of $48 million ($0.17 per diluted share). Adjusted EBITDA rose 12.2% to $164 million, and adjusted earnings per diluted share reached $0.26, compared with $0.17 in Q3 2024.
Segment results showed Sterigenics generating $193 million in net revenues, a 9.8% increase from $176 million in Q3 2024, and $107 million in segment income, up 11.6% from $95 million. Nordion posted $63 million in net revenues, up 22.4% from $51 million, and $38 million in segment income, up 15.8% from $33 million. Nelson Labs reported $56 million in net revenues, a 5.0% decline from $59 million, and $19 million in segment income, a 1.9% rise from $18 million, driven by lower volume in its food‑testing services.
On the balance sheet, total debt stood at $2.2 billion and unrestricted cash at $299 million, giving a net leverage ratio of 3.3×. The company had no borrowings on its revolving credit facility and recently amended its First Lien Term Loan, reducing the interest‑rate spread from 300 to 250 basis points and repaying $75 million of the facility.
Sotera Health raised its full‑year 2025 outlook, increasing constant‑currency revenue growth to 4.5%–6.0% from the prior 3.5%–5.0% range, and Adjusted EBITDA growth to 6%–7.5% from the previous 5%–6.5% range. Adjusted EPS guidance was updated to $0.75–$0.82, up from the earlier $0.70–$0.78 guidance. The company expects pricing near the midpoint of its 3%–4% range and capital expenditures of $170 million–$180 million.
Management highlighted strong demand from data‑center and medical‑device customers, citing volume growth in Sterigenics and margin expansion in Nelson Labs. The company also noted the long‑term cobalt‑60 operating license secured by Nordion, which removes a regulatory uncertainty and supports future supply stability. While the company remains focused on cost controls, it acknowledged ongoing litigation related to ethylene oxide claims against Sterigenics, which could impact future earnings if settled.
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