C.R. Bard (NYSE:BCR) today released Q1 earnings which significantly topped expectations, as well as announcing its $24 billion acquisition by Becton Dickinson & Co. (NYSE:BDX), sending shares through the roof, up more than 20% in early-day trading.
The Murray Hill, N.J.-based company posted profits of $178.1 million, or $2.37 per share, on sales of $938.8 million for the 3 months ended March 31, for bottom-line growth of 53.3% while sales grew 7.5% compared with the same period last year.
After adjusting to exclude 1-time items, earnings per share were $2.87, significantly above consensus on The Street of $2.65. Revenue also handily topped The Street’s $916.5 million expectations.
The company released updated guidance along with their earnings, expecting to see net sales increase between 4-5% next quarter and 5-6% for the full year. Earnings per share are estimated to be between $2.75 and $2.85 for the following quarter and between $11.65 and $11.90 for the full year.
Shares in Bard are actively trading, up 20.5%, or $51.92, trading at $304.99 as of 10:46 a.m. EST.