Steris Reports Solid Fiscal 2018 With 2019 Outlook in Line With Our View; Shares Fairly Valued
Narrow-moat Steris reported fiscal 2018 fourth-quarter and full-year results that fell largely in line with our expectations. We plan no changes to our $98 fair value estimate as we update and roll our model. For the full year, constant-currency organic revenue growth clocked in at approximately 5%, with similar expectations set in management's initial 2019 outlook. Management's outlook implies roughly 13% earnings growth in 2019, in line with our thinking.The firm saw broad-based strength as m...
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