Hillrom (NYSE:HRC) shares dipped today on first-quarter results that fell short of last year’s numbers but still topped the consensus forecast.
The Chicago-based company posted profits of $39.8 million, or 59¢ per share, on sales of $685 million for the three months ended Dec. 31, 2019, for a 5.7% bottom-line slide on sales growth of 0.15%.
Adjusted to exclude one-time items, earnings per share were $1.13, 9¢ ahead of Wall Street, where analysts were looking for sales of $684 million.
“We are pleased to report another quarter of strong financial results driven by our diverse portfolio and successful execution of our strategic priorities,” Hillrom president & CEO John Groetelaars said in a news release. “Our category leadership strategy, new products, emerging market opportunities and benefits from recent acquisitions position us well to drive sustainable growth, deliver on our financial outlook and enhance outcomes for patients and their caregivers.”
Hillrom said it now expects to log adjusted EPS of $5.50 to $5.56 in fiscal 2020, raising the low end from $5.46. The company updated its prior sales guidance to approximately $430 million.
HRC shares were down -2.6% at $109.90 in late-morning trading today.