Daniel A. Carestio
President, Chief Executive Officer & Director at STERIS
Thanks, Mike, and thanks again to everyone for taking the time to join us today. Our fiscal 2022 is shaping up to be another record year for STERIS. Our first half turned out to be stronger than we anticipated, with constant currency organic growth across the business. In particular, growth in our AST segment remained strong, with 23% constant currency organic growth year-to-date despite some tough comparisons in the second quarter of last year. Healthcare has also rebounded nicely, with 17% constant currency organic growth in the first half and record backlog of $311 million at the end of the quarter for the legacy STERIS products. Life Sciences consumables have stabilized, contributing 3% constant currency organic growth in the first half. And our capital equipment business backlog has grown to a record $98 million. Lastly, our newest segment, Dental, reported 10% growth for the quarter, in line with our expectations. Underlying our performance, procedure volumes in the U.S. have held steady as hospitals have learned how to manage through the pandemic.
While we continue to see pockets of the world that are more limited in procedure volume due to COVID outbreaks, overall, we believe procedure volume is moving closer to pre-pandemic levels. We are cautiously optimistic about the coming months as COVID cases appear to have peaked and are now once again receding. Despite the more difficult comparisons, we expect revenue to stay strong in our second half as we continue to benefit from these trends. We also continued to make progress on the integration of Cantel in the quarter. The majority of our staffing changes have been made, aligning STERIS to better serve customers, positioning us for growth going forward and contributing to cost synergies. We are also making swift progress implementing Lean, and we are very pleased with how receptive our new colleagues are to our passion for continuous improvement. All said, we would expect to exceed our synergy cost targets for the year and also in total.
Looking at the full year, while we are increasingly confident in our ability to achieve our improved outlook provided last quarter, we are not increasing guidance further at this time. While we overachieved earnings in the second quarter, we have a few offsets that will likely impact the back half of the year. On the revenue side, our comparisons do get a bit more challenging. And we do expect some headwinds from FX, in particular, from the euro and the pound. In addition, while our teams have done outstanding work to mitigate the supply chain challenges so far this year, it is difficult to predict the unknown implications the current environment may have on the second half of the fiscal year. All said, we are pleased with where we stand today and the underlying strength of our diversified business, and remain optimistic that if it were not for supply chain and inflation uncertainties, we would be at the high end or above our adjusted EPS guidance range for the full year. We look forward to continuing to update all of you on our progress. Thank you. And I will now turn the call back over to Julie to open up for Q&A. Julie?