Sonic Healthcare updated its FY24 earnings forecast, projecting an EBITDA of approximately $1.6 billion from revenues of around $8.9 billion.
Despite a solid 6% organic revenue growth rate, inflationary pressures and currency exchange headwinds led to lower profit growth. Delays in margin improvement initiatives are cited as contributing factors.
The initiatives are now expected to drive earnings growth in FY25.
Sonic forecasts a further increase in EBITDA to between $1.70 billion and $1.75 billion for FY25, factoring in potential impacts like a US fee cut and losses from new contracts and investments.