Analysts were expecting Steris Corp. (STE) [Chart - News - Analysis] to report earnings of $0.44 for last quarter, but STE beat expectations with actual earnings of $0.54---10 cents above the consensus estimate. STE also issued earnings guidance for next quarter that is above current analyst expectations.

If you compare last quarter's earnings to the $0.48 the company made per share during the same quarter a year ago, you can see that STE’s earnings are up this year.

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Also, if you compare STE's 15.00% projected earnings-per-share (EPS) growth rate for the next five years with the projected EPS growth rate of 13.45% for the Medical Appliances & Equipment industry as a whole during that same time frame, you can see that analysts expect STE to outperform the industry in the future---which is a good sign for the stock.

Drilling down a little deeper into the Medical Appliances & Equipment industry, you can see how analysts believe STE will stack up against some of the other stocks in the industry, like Zimmer Holdings Inc. (ZMH) [Chart - News - Analysis] and St. Jude Medical Inc. (STJ) [Chart - News - Analysis], in the future. Analysts believe ZMH's earnings are going to grow at a rate of 9.69% while STJ's earnings are going to grow at a rate of 12.92%.

Earnings season can be a volatile time in the stock market. Check out these videos and articles to be better prepared to take advantage of the large price moves that tend to accompany earnings announcements.

- Earnings Season is Here - Find Out How to Trade It

- Using Options to Trade Earnings

- Understanding Stock Analyst Research and Recommendations

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