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Bard’s Q4 earnings top estimates

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C.R. BardC.R. Bard (NYSE:BCR) yesterday beat the consensus estimate for its 4th-quarter earnings.

Murray Hill, N.J.-based Bard posted profits of $136.3 million, or $1.79 per share, on sales of $870.8 million for the 3 months ended Dec. 31, 2015, for a bottom-line gain of 1.6% on sales growth of 0.4% compared with Q4 2014.

Adjusted to exclude 1-time items, earnings per share were $2.43, 2¢ ahead of expectations on Wall Street.

Full-year profits were $135.4 million, or $1.77 per share, on sales of $3.42 billion, marking a -54.0% profit decline on sales growth of 2.8%. Adjusted EPS came in at $9.08.

“We said a year ago that 2015 was an important year of execution for our strategic investment plan, and we are happy to report that we exceeded expectations for both revenue and adjusted cash earnings per share for every quarter in 2015. We are pleased with the acceleration in our organic revenue growth and profitability; and we remain focused on investing in areas of faster growth with the objective of providing our shareholders with sustainable attractive returns,” chairman & CEO Timothy Ring said in prepared remarks.

Bard said it expects adjusted EPS of $9.90 to $10.05 this year on constant-currency sales growth of 6% to 8%. Analysts on The Street are looking for adjusted EPS of $9.89.

BCR shares closed down -2.7% yesterday at $178.36 each.

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