Blood products company Haemonetics (NYSE: HAE) reported calendar Q3 2026 (fiscal Q2 2027) results topping the market’s revenue expectations, with sales up 9.3% year on year to $357.8 million. Its non-GAAP profit of $1.35 per share was 4.6% above analysts’ consensus estimates.

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StockStory’s take

Haemonetics delivered third-quarter results that exceeded Wall Street’s expectations, with management attributing strong performance to broad-based growth across its plasma, Blood Management, and Interventional Technologies businesses. CEO Chris Simon highlighted that organic revenue growth was fueled by increased plasma collections and the accelerated adoption of the Persona PLUS platform. He also pointed to successful expansion of the company’s relationship with CSL and the launch of several new MedSurg products as important contributors to the quarter’s results. Management credited investments in technology and operational execution for their ability to meet robust customer demand.

Looking ahead, management believes Haemonetics is well-positioned for continued growth as it completes the rollout of its NexSys PCS with Persona PLUS system to all CSL U.S. plasma centers before the end of 2027. Simon emphasized that the company’s updated guidance reflects increased visibility into key customer commitments, while the ramp-up of new product launches and regulatory approvals in Interventional Technologies are expected to broaden market reach. CFO James D'Arecca cautioned that near-term margin expansion will be moderated by investments in capacity and supply reliability, but expects these costs to be transitory, setting the stage for improved operating leverage as volumes scale.

Key insights from management’s remarks

Management attributed quarterly outperformance to robust plasma collection trends, expanded customer partnerships, and the rapid adoption of new medical technologies. Investments in capacity and product innovation were highlighted as key enablers of growth.

• Plasma business momentum: The plasma segment was a major driver, benefiting from prior share gains, strong global collection volumes, and the ongoing rollout of Persona PLUS, which enhances plasma yield and center productivity. Management noted substantial adoption across the customer base and ongoing expansion with CSL as validating Haemonetics' technology leadership.
• Recurring revenue strength: Blood Management Technologies saw growth in hemostasis management and transfusion management, with recurring revenue from TEG 6s disposables and integrated software solutions helping to improve workflow automation and safety for hospitals and blood centers. Transfusion management became a more significant margin contributor as its adoption accelerated.
• Interventional Technologies progress: The Interventional Technologies segment, led by vascular closure products such as VASCADE MVP and MVP XL, achieved double-digit growth in electrophysiology. New product launches, including PerQseal Elite and PacePro, extended the company’s offerings into new procedural categories and geographies, supported by recent regulatory approvals in the U.S., Europe, and Japan.
• Capacity and investment ramp-up: To support the expanded CSL partnership and growing plasma demand, Haemonetics began scaling manufacturing capacity, investing in new production lines, and building up inventory—all of which contributed to higher operating expenses in the quarter. Management indicated these investments are necessary to meet customer conversion schedules.
• Operating margin dynamics: Despite gross margin benefits from a favorable business mix and temporary tariff refunds, operating margins were pressured by increased performance-based compensation, supply chain costs, and upfront investments in growth initiatives. Management expects these impacts to be temporary, with margin expansion anticipated as volumes increase and costs normalize.

Drivers of future performance

Haemonetics’ outlook is anchored by continued plasma market expansion, new product launches, and investments supporting capacity and operational efficiency.

• CSL rollout and plasma share gains: Management expects the phased rollout of its NexSys PCS with Persona PLUS system across all CSL U.S. plasma centers to drive multi-year recurring revenue and meaningful operating leverage, especially as ramp-up costs subside. Additional share gains with other plasma customers and broader Persona PLUS adoption are seen as durable growth contributors.
• New product adoption and regulatory milestones: Recently launched products in Interventional Technologies, such as PerQseal Elite and PacePro, are expected to expand Haemonetics’ addressable market. Regulatory approvals in key regions and ongoing physician education efforts will be critical to building market share and sustaining growth.
• Margin recovery and cost normalization: While near-term margins are weighed down by investments in manufacturing, logistics, and performance-based compensation, management anticipates margin expansion in later periods as production volumes grow, fixed costs are absorbed, and transitory ramp-up expenses diminish.

Catalysts in upcoming quarters

In the coming quarters, our analysts will watch (1) the pace and breadth of CSL plasma center conversions and the associated impact on recurring revenue, (2) adoption rates and market share gains for new Interventional Technologies products like PerQseal Elite and PacePro, and (3) margin recovery as capacity investments and ramp-up costs begin to normalize. Execution on customer conversions and progress in product launches will be critical markers for sustained growth.

Haemonetics currently trades at $123.60, down from $127.42 just before the earnings. Is there an opportunity in the stock? The answer lies in our full research report (it’s free).

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