The Chicago-based medical products giant reported profits of $27.9 million, or 41¢ per share, on sales of $782.8 million for the three months ended Sept. 30, for a -69.1% bottom-line slide on sales growth of 3.1%.
Adjusted to exclude one-time items, earnings per share were $1.69, 4¢ ahead of the consensus on Wall Street, where analysts were looking for revenues of $759.3 million.
Full-year profits slid -39.7% to $152.2 million, or $2.25 per share, on sales growth of 2.1% to $2.91 billion. Adjusted EPS were $5.08, 3¢ ahead of The Street, which was looking for $2.88 billion in revenues.
“Our strong fourth quarter financial results mark the close of another successful year at Hillrom,” president & CEO John Groetelaars said in prepared remarks. “We enter fiscal 2020 with strong momentum and confidence in our ability to execute on our strategy, advance our category leadership, and deliver on our commitments to drive value for patients, caregivers and our shareholders.”
Hillrom said it expects to put up adjusted EPS of $5.46 to $5.56 for fiscal 2020, on sales growth of 1% to 2%. The company also issued long-range guidance through fiscal 2022, predicting compound annual adjusted EPS growth of at least 10% on revenue growth of 4%, also on a compound annual basis.
“We remain committed to driving accelerated core revenue growth, double-digit adjusted earnings per share growth and significant operating cash flow through 2022, while investing to position our company for continued success,” Groetelaars said. “This compelling outlook reflects continued strength and momentum across our diversified business, operational execution and financial discipline as we create sustainable, long-term value and deliver on our vision of advancing connected care.”
HRC shares, which closed up 0.8% at $104.69 each yesterday, dipped -0.9% to $103.75 today in pre-market trading.