The Chicago-based company posted profits of $49.5 million, or 74¢ per share, on sales of $714.2 million for the three months ended March 31, seeing profits grow 73.7% while sales grew 0.5% compared with the same period during the previous year.
Adjusted to exclude one-time items, earnings per share were $1.14, just ahead of the $1.11 consensus on Wall Street where analysts expected to see sales of approximately $705.4 million, which the company topped.
“We are pleased to deliver another strong quarter of accelerated core revenue growth, positive new product momentum across our diversified portfolio, and financial results that exceeded our guidance. This performance reflects the power of our global brand, strong customer relationships, and increasing demand for our innovative technologies and solutions. We continue to execute on our strategic priorities and vision of advancing connected care to enhance outcomes for patients and their caregivers,” prez & CEO John Groetelaars said in a press release.
Hill-Rom updated its full year 2019 guidance, expecting to see revenue growth of between 2% to 3% with adjusted EPS of between $5.02 and $5.06.
For its upcoming fiscal third quarter, Hill-Rom said it expects to see sales grow 2% with adjusted EPS of between $1.20 and $1.22.
Shares in Hill-Rom are up 1.9% so far today, at $99 per share as of 9:47 a.m. EDT.
Last month, Hill-Rom said that it inked a deal to acquire mobile healthcare communications developer Voalte in a deal worth up to $195 million.