Fisher & Paykel Healthcare expect to bank $23 million in US tariff refunds.

Details of the refund were included in a future earnings update to the NZX.

Earlier this year, the Supreme Court ruled that the Trump administration's tariffs imposed under the International Emergency Economic Powers Act (IEEPA) were illegal.

The US Court of International Trade then issued orders directing US Customs to refund the tariffs.

Donald Trump has since imposed new tariffs using a different law relating to unfair trade practises, with New Zealand facing a 12.5 percent tariff.

Fisher & Paykel Healthcare said its full-year net profit after tax guidance incorporated $23m in US IEEPA tariff refunds.

The company designs, manufactures and exports medical devices at plants in New Zealand and Mexico, with the US its key market.

For the first half of the 2027 financial year, the company said it now expected full-year net profit after tax to be in the range of about $525m to $565m.

That was up from previous guidance of about $500m to $550m.

It also expected full-year operating revenue to be up slightly, in the range of about $2.47b to $2.57b.

However, it noted the guidance was contingent on exchange rates at 31 July.

It said the full-year outlook also continued to anticipate an overall improvement in gross margin and assumed current global tariff rates, policies and applications for the duration of the financial year.

Managing director and chief executive Lewis Gradon said the company was building momentum across the business.

"We have had a strong start to our first half, particularly in our hospital product group, as a result of continued strong demand for our latest range of hardware devices and ongoing change in clinical practice driving consumable sales," Gradon said.