Haemonetics Corporation (HAE)

Pretax margin

		Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	151,853	161,065	159,248	167,499	141,403	124,072	113,280	92,143	63,641	20,949	26,899	61,933	72,921	122,268	122,681	112,813	87,154	87,023	47,934	25,872
Revenue (ttm)	US$ in thousands	2,596,175	2,424,725	2,393,776	2,373,078	2,323,237	1,114,154	1,068,622	1,011,034	987,485	954,649	935,251	904,840	862,112	882,733	901,332	944,412	989,857	1,000,660	989,046	978,061
Pretax margin		5.85%	6.64%	6.65%	7.06%	6.09%	11.14%	10.60%	9.11%	6.44%	2.19%	2.88%	6.84%	8.46%	13.85%	13.61%	11.95%	8.80%	8.70%	4.85%	2.65%

March 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $151,853K ÷ $2,596,175K
= 5.85%

Haemonetics Corporation's pretax margin has shown some fluctuations over the past several quarters. The pretax margin represents the proportion of each dollar of revenue that the company retains as pre-tax income after accounting for all operating expenses.

From Dec 31, 2019, to Mar 31, 2020, the pretax margin increased from 4.85% to 8.80%, indicating an improvement in the company's profitability. However, the pretax margin decreased in the subsequent quarters until Sep 30, 2020, reaching 2.65%, possibly due to increased operating expenses relative to revenue during that period.

There was a significant rebound in pretax margin from Dec 31, 2020, to Dec 31, 2021, where it increased substantially from 8.70% to 13.85%, reflecting improved operational efficiency and cost management during that period.

Although the pretax margin dipped slightly in the following quarters, it remained above 6% until Mar 31, 2023, indicating a relatively healthy level of profitability. It is noteworthy that the pretax margin surged to 11.14% in Dec 31, 2023, but decreased slightly in the most recent quarter, Mar 31, 2024, to 5.85%.

In conclusion, Haemonetics Corporation's pretax margin has displayed variability in recent quarters, with some fluctuations potentially influenced by changes in revenue, costs, or other operational factors. Further analysis of the company's financial performance and operating activities would be necessary to provide a more in-depth assessment of its pretax margin dynamics.