The Alpharetta, Ga.-based company posted profits of $17.1 million, or 36¢ per share, on sales of $399.2 million for the 3 months ended June 30, for massive bottom-line growth of 163.1% while sales shrank 0.2% compared with the same period in the prior year.
Adjusted to exclude 1-time items, earnings per share were 51¢, well above the 37¢ consensus on Wall Street, where analysts were looking for sales of $399.7 million.
Halyard Health said its medical devices business had $149 million in sales, up 5% compared to the 2nd quarter of 2016. Operating profit for the medical devices division was $41 million, up 40% from the previous year.
“Halyard has delivered a strong quarter with solid earnings and profitability performance in the medical devices segment. We are on track to achieve our 2017 goals, and I am pleased that we are able to raise our full-year adjusted diluted earnings per share outlook. Building on Halyard’s solid foundation, leading market positions across our portfolio and strong product pipeline, we expect to accelerate Halyard’s transformation into a leading medical devices company,” CEO Joe Woody said in a press release.
Halyard Health updated its outlook for the fiscal year 2017, expecting to post diluted earnings per share of between $1.11 and $1.43.
Shares in Halyard Health rose 4.5% today, closing at $41.68.