Hill-Rom ’ s Q4, 2017 earnings top estimates, sales miss

Hill-Rom Holdings (NYSE:HRC) shares came under pressure this morning after the medical device company reported fourth-quarter and full-year results that beat Wall Street’s consensus on earnings but missed its sales forecast. Chicago-based Hill-Rom posted profits of $69.4 million, or $1.03 per share, on sales of $643.5 million for the three months ended Sept. 30, for a bottom-line gain of 34.2% on sales growth of 5.0% compared with Q4 2016. Adjusted to exclude one-time items, earnings per share were $1.32, 4¢ ahead of The Street, but analysts there were looking for sales of $731.1 million. Full-year profits were $133.6 million, or 71¢ per share, on sales of $2.36 billion, amounting to 7.7% profit growth on a 4.2% sales gain. Adjusted EPS came in at $3.86, again 4¢ ahead of the consensus expectation, but analysts had forecast sales of $2.74 billion. “Our solid financial performance and progress set a strong foundation for 2018 and beyond. We are confident in the long-term growth prospects of our company,” president & CEO John Greisch said in prepared remarks. “Our team will continue to focus on driving sustainable and profitable growth across our core portfolio, launching innovative products that address evolving customer needs, and executing cost management initiatives to create value for patients, customers and shareholders.” Hill-Rom said it expects to report fiscal 2018 adjusted EPS of $4.22 to $4.30 on constant-currency sales growth of...
Source: Mass Device - Category: Medical Devices Authors: Tags: MassDevice Earnings Roundup Wall Street Beat Hill-Rom Holdings Inc. Source Type: news