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Hill-Rom shares down despite Q3 EPS, sales beat

Hill-Rom

Shares in Hill-Rom Holdings (NYSE:HRC) have fallen slightly today despite the medical device maker beating expectations on Wall Street with its fiscal year 2018 third quarter earnings results.

The Chicago-based company posted profits of $45.2 million, or 67¢ per share, on sales of $708.6 million for the three months ended June 30, seeing a massive 693% growth on the bottom-line while sales grew 2.8% compared with the same period during the previous year.

Adjusted to exclude one-time items, earnings per share were $1.15, just ahead of the $1.13 consensus on Wall Street where analysts expected to see sales of $707.5 million, which the company topped.

Hill-Rom provided guidance for its upcoming fiscal fourth quarter of 2018, expecting to see revenue growth of 2% and adjusted earnings per share of between $1.50 and $1.53.

For the full year, the company reiterated previous guidance, expecting to see revenue growth of between 3% and 4% with earnings per share of between $4.62 and $4.65.

“Since joining Hill-Rom in May, I have immersed myself in the business, thoroughly reviewing the company and its global operations and engaging with our employees, business leaders, customers and partners. It’s clear to me that Hill-Rom has a solid foundation and compelling growth prospects, as reflected in our strong fiscal third quarter financial results. I am confident in Hill-Rom’s future as we enter the next phase of our transformation with the momentum to drive growth through innovation and business development initiatives, and create long-term value for patients, customers and shareholders,” prez & CEO John Groetelaars said in a press release.

In May, Hill-Rom said it opened its recently built Skaneateles Falls, N.Y. location, which will serve as expansion space for its Welch Allyn division.

The post Hill-Rom shares down despite Q3 EPS, sales beat appeared first on MassDevice.

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