The Chicago-based company posted profits of $34.4 million, or 51¢ per share, on sales of $678.9 million for the 3 months ended March 31, for a bottom-line gain of 54.3% on sales growth of 7.3% compared with fiscal Q2 2016.
Adjusted to exclude 1-time items, earnings per share were 88¢, 9¢ ahead of The Street, where analysts were looking for sales of $655.1 billion.
The news pushed HRC shares up 2.8% to $75.89 apiece today in mid-morning trading.
“We delivered strong financial results across our diversified portfolio that exceeded expectations, and we are raising our full-year guidance,” president & CEO John Greisch said in prepared remarks. “Momentum in our core business, improving international growth trends, value from new product introductions and the recent acquisition of Mortara Instrument were significant contributors to our 2nd-quarter results. We continue to successfully execute on key strategic priorities while enhancing outcomes for patients and caregivers, and generating attractive returns for our shareholders.”
Hill-Rom said it now expects to put up adjusted EPS of $3.82 to $3.88 this year on sales growth of 3.5% to 4.0%, including a roughly $70 million contribution from Mortara.
For its fiscal 3rd quarter, Hill-Rom’s forecast calls for adjusted EPS of 89¢ to 91¢ on sales growth of 5% to 6% compared with Q3 2016.