Fisher & Paykel (ASX:FPH) unveils revenue guidance

Fisher & Paykel (ASX:FPH) have unveiled revenue guidance for the 2022 financial year, ending March 31. 

The healthcare company said it expects revenue to be in the range of $1.56 billion (NZ$1.675 billion) to $1.59 billion (NZ$1.70 billion), which appears to be below consensus of $$1.64 billion (NZ$1.76 billion).

It also said its 65 per cent gross profit margin target could fall by 250 basis points over the 2022 financial year due to high freight costs.

“Our second half hospital consumables revenue is currently tracking to be similar to the hospital consumables revenue that we reported in the first half of the 2022 financial year, said chief executive officer Lewis Gradon.

“This is consistent with reports of the increasing prevalence of the Omicron variant over the last two months and its associated lower respiratory intervention requirements, as well as a relatively mild flu season in the Northern Hemisphere.”

“Regardless of how Covid-19 effects unfold over the short term, we are confident our business is well-placed to contribute to a positive change in clinical practice and improving outcomes for respiratory patients in general over the long term.” 

Shares in Fisher & Paykel Healthcare (ASX:FPH) are trading 5.8 per cent lower at $24.26.