Exceeded expectations, driven by broad-based growth across all three businesses, particularly earlier Nordion shipments and temporary projects at Nelson Labs.
Q2 revenue $321M, cc +8%; adjusted EBITDA $166M, cc +8.7%; adjusted EPS $0.26, +30%.
Sterigenics cc +7%, Nordion cc +16.7% (Cobalt-60 shipment timing pulled forward), Nelson Labs cc +5.4%; new X-ray facility begins production and generates revenue in Q3, former PE shareholder completed exit, new CEO took office.
Raised full-year guidance: cc revenue +5.25%-6.75%, cc EBITDA +5.75%-7.25%, EPS $0.95-$1.01; expects accelerating Sterigenics growth in H2, with Nordion low-to-mid single digits for the full year.
Management tone is positive, emphasizing execution; however, rising costs at Nelson Labs are weighing on margins, and litigation risk remains.