Haemonetics' Q1 2026 Earnings Call: Key Contradictions in Plasma Growth, Margins, and Competitive Strategy

Plasma collections and share gains, gross margin improvements, plasma collection recovery and share gains, competitive landscape and strategic response, and interventional technologies segment and MVP XL impact are the key contradictions discussed in Haemonetics' latest 2026Q1 earnings call.



Plasma Business Performance:
- Haemonetics' plasma segment achieved a revenue of $130 million in the quarter, down 4% on a reported basis but up 29% organically ex CSL.
- The growth was driven by favorable impacts from a renegotiated software agreement and favorable pricing from prior technology upgrades.

Interventional Technologies Challenges:
- Interventional Technologies saw a 7% decline in Q1, primarily due to tough comparisons from prior year destocking in sensor guided technologies and pressures related to esophageal cooling.
- The company is taking decisive actions to strengthen execution, including new leadership and organizational realignment.

BMT Franchise Growth:
- The Blood Management Technologies (BMT) franchise achieved 22% growth overall and 27% growth in the U.S., fueled by strong TEG disposable utilization and rapid adoption of the global hemostasis HN cartridge.
- This growth was supported by strong TEG 6S utilization and converting lab-based TEG 5000 customers to the advanced point-of-care TEG 6S system.

Gross Margin Expansion:
- Haemonetics reported an adjusted gross margin of 60.8%, up 550 basis points year-over-year, driven by the benefits of Persona technology, favorable product mix, and a one-time benefit from license fees.
- Margin expansion was supported by productivity initiatives and strategic portfolio transformation, including the divestiture of the low-margin whole blood business.