Key Highlights

  • H1 FY27 Revenue guided at approximately $1.24 billion, around 14% higher than H1 FY26
  • H1 FY27 net profit after tax guided at approximately $280 million, up around 24% excluding Tariff refunds
  • Full-year FY27 revenue guidance raised to a range of $2.47 billion to $2.57 billion
  • Full-year FY27 net profit after tax guidance raised to $525 million to $565 million, including $23 million in US tariff refunds

Fisher & Paykel Healthcare Corporation Limited (ASX:FPH) issued guidance on 21 August 2026 for the first half of its 2027 financial year, which runs through to 30 September 2026, alongside an updated outlook for the full financial year. Using exchange rates as at 31 July 2026, the company expects first-half revenue of approximately $1.24 billion and net profit after tax of approximately $280 million. On a reported basis, this points to revenue growth of around 14% and net profit after tax growth of around 24%, excluding the effect of US tariff refunds, compared with the first half of the 2026 financial year.

Hospital Segment Leads Growth

Management attributed the improved first-half trajectory largely to the Hospital product group, where Demand for the company's newer range of hardware devices has continued alongside a shift in clinical practice that is supporting consumable sales. The company also pointed to continuous improvement initiatives within its operations as a Factor supporting gross Margin and broader operating efficiency during the period.

Full-Year Outlook Lifted

For the full 2027 financial year, Fisher & Paykel Healthcare had previously guided in May to Operating Revenue in a range of approximately $2.45 billion to $2.57 billion, with net profit after tax expected in a range of approximately $500 million to $550 million. Following the update, the company now expects full-year operating revenue in a range of approximately $2.47 billion to $2.57 billion, and net profit after tax in a range of approximately $525 million to $565 million, at 31 July exchange rates.

The revised guidance reflects a narrowing and modest lift of the revenue range previously communicated in May, together with an upward adjustment to profit expectations. Both the lower and upper bounds of the full-year operating revenue range have moved higher, while the net profit after tax range has increased by $25 million at both ends compared with the earlier guidance.

Tariff Refunds Factor Into Guidance

The company noted that both its first-half and full-year net profit after tax guidance figures incorporate $23 million in refunds tied to US tariffs applied under the International Emergency Economic Powers Act. Beyond the refund, the full-year outlook continues to anticipate an overall improvement in gross margin and assumes that current global tariff rates, policies and applications remain unchanged for the remainder of the financial year.

Annual Shareholders' Meeting

Alongside the trading update, Fisher & Paykel Healthcare confirmed that its 2026 Annual Shareholders' Meeting will be held virtually on 25 August 2026, scheduled for 2:00pm New Zealand Standard Time. The company designs, manufactures and markets products used across acute and chronic respiratory care, surgery and treatment of obstructive sleep apnea, and its products are distributed in more than 120 countries worldwide.

Conclusion

Fisher & Paykel Healthcare's updated guidance reflects an upward revision to both first-half and full-year expectations for the 2027 financial year, driven by demand in its Hospital product group and supported in part by US tariff refunds. The company has narrowed and raised its full-year revenue range while lifting its net profit after tax range by $25 million at both ends compared with guidance issued in May, with the update coming ahead of its Annual Shareholders' Meeting later in August 2026.