Sotera Health Company announced its financial results for the third quarter ended September 30, 2024, reporting a net revenue increase of 8.5% to $285 million compared to $263 million in the prior-year quarter. On a constant currency basis, net revenues increased by 8.9%. Net income for the quarter was $17 million, or $0.06 per diluted share, a significant improvement from a net loss of $14 million, or $0.05 per diluted share, in Q3 2023.
Adjusted EBITDA for the third quarter of 2024 grew by 9.0% to $146 million, up from $134 million in the third quarter of 2023. Adjusted Earnings Per Diluted Share (Adjusted EPS) increased by $0.01 to $0.17, compared to $0.16 in the third quarter of 2023. The company's net leverage ratio stood at 3.6x as of September 30, 2024.
The Sterigenics segment saw net revenues increase by 4.3% to $176 million, driven by favorable pricing, volume, and mix. Nordion's net revenues surged by 28.0% to $51 million, primarily due to the timing of cobalt-60 shipments. Nelson Labs reported a 7.0% increase in net revenues to $59 million, benefiting from favorable volume, mix, and pricing, as well as labor productivity improvements. Sotera Health reaffirmed its previously provided 2024 revenue and Adjusted EBITDA outlook ranges.
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