Hillrom (NYSE:HRC) shares dipped slightly despite second-quarter results that beat the consensus forecast.
The Chicago-based company posted profits of $87.1 million, or $1.30 per share, on sales of $762 million for the three months ended March 31, 2021, for an 85.7% bottom-line gain on sales growth of 5.4%.
Adjusted to exclude one-time items, earnings per share were $1.73, 30¢ ahead of Wall Street, where analysts were looking for sales of $732.2 million.
“Broad-based recovery continues to build across our portfolio, resulting in stronger-than-expected financial results for the fiscal second quarter,” Hillrom president & CEO John Groetelaars said in a news release. “We are pleased to be raising our financial guidance for the year given improved underlying performance and strong execution against our strategic priorities. Our ongoing transformation strengthens our ability to unlock significant value for patients, caregivers and shareholders as we deliver on our mission.”
Hillrom said it now expects to log adjusted EPS of $6 to $6.10, compared with $5.70 to $5.90 previously. The company expects its operating cash flow to range between $440 million and $460 million, a rise from the projection of $400 million to $430 million previously.
HRC shares were down -.5% at $114.71 in early-morning trading today.