Shares of Haemonetics Corporation (HAE) plunged 26.55% in intraday trading on Thursday following the release of its first-quarter fiscal 2026 earnings report. The medical technology company's results and outlook fell short of investor expectations, triggering a significant sell-off.

Haemonetics reported Q1 revenue of $321.4 million, surpassing analyst estimates of $304.4 million. However, this figure represents a 4.4% decrease from the $336.2 million reported in the same quarter last year. The company's adjusted earnings per share came in at $1.10, falling below the consensus estimate of $1.19 and showing only a modest 7.8% increase from $1.02 in the prior year period.

Despite reaffirming its fiscal 2026 guidance, projecting total company organic revenue growth of 6-9% (excluding CSL contract impact) and adjusted earnings per diluted share in the range of $4.70-$5.00, investors seemed unimpressed. The market reaction suggests concerns about the company's ongoing business transitions, including the completion of the CSL contract and divestiture of the Whole Blood line, which have created headwinds for visible growth. Additionally, the company's expectation that revenue and margin improvement will be weighted toward the second half of the fiscal year may have contributed to investor unease.