Management ChangeMay 5, 2026, 07:17 AM
Sotera Health Appoints Alton Shader as CEO; Q1 Net Income $27M
AI Summary
Sotera Health announced a leadership transition, appointing Alton Shader as the new Chief Executive Officer and a Class II director, effective May 26, 2026. Current CEO Michael B. Petras, Jr. will transition to Executive Chairman. Concurrently, the company reported strong first-quarter 2026 financial results, with net revenues increasing 10.0% to $280.045 million and net income reaching $27 million, a significant improvement from a net loss in the prior year. Sotera Health also reaffirmed its full-year 2026 outlook, projecting continued growth in net revenues and Adjusted EBITDA.
Key Highlights
- Alton Shader appointed CEO and Class II director, effective May 26, 2026; Michael B. Petras, Jr. transitions to Executive Chairman.
- Q1 2026 net revenues increased 10.0% to $280.045 million, or 6.5% on a constant currency basis, compared to Q1 2025.
- Q1 2026 net income was $27 million ($0.09 diluted EPS), compared to a net loss of $13 million ($0.05 diluted EPS) in Q1 2025.
- Q1 2026 Adjusted EBITDA increased 10.5% to $134.653 million, or 6.9% on a constant currency basis.
- Sterigenics segment net revenues grew 9.7% to $186 million (6.1% constant currency).
- Nordion segment net revenues grew 29.0% to $42 million (25.8% constant currency).
- Nelson Labs segment net revenues decreased 0.7% to $52 million (3.8% constant currency decrease).
- Company reaffirms full-year 2026 outlook for net revenues growth of 5.0%-6.5% and Adjusted EBITDA growth of 5.5%-7.0%, both constant currency.