Becton Dickinson & Co. (NYSE:BDX) today posted 3rd quarter earnings that topped Wall Street’s expectations and saw sales grow massively, but lowered its overall revenue outlook and saw shares shrink in response.
The Franklin Lakes, N.J.-based company reported profits of $390 million, or $1.80 per share, on sales of $3.2 billion for the 3 months ended June 30.
That’s a massive 529% gain on profits while sales grew a more meager 2.5% compared with the same period in 2015.
After adjusting to exclude 1-time items, earnings per share were $2.35. Analysts on Wall Street were looking for $2.21 per share and $3.2 billion in revenue, both of which the company topped.
“We are pleased with our results this quarter with both segments contributing to growth. The combination of solid revenue growth and continued margin improvement is allowing us to increase our investment in innovation while delivering double-digit increases in earnings. At the same time, we continue to drive significant accretion from the integration of BD and CareFusion and create meaningful value for shareholders,” CEO Vincent Forlenza said in a press release.
The company lowered its revenue outlook for the full year 2016, expecting to see sales up 21% to 21.5%, down from previous guidance of 21.5% and 22% for the year.
Diluted earnings per share are expected to be between $5.88 and $5.95, with adjusted earnings per share between $8.50 and $8.57, a 19% to 20% growth from last year. On a currency-neutral basis, BD lifted its guidance from between $9.01 and $9.08 to between $9.08 and $9.15.
Shares have drooped in early morning trading after the release, down 5.3% to trade at $166.55 as of 9:55 a.m. EDT.
The post BD lowers outlook on Q3 earnings post appeared first on MassDevice.
from MassDevice http://ift.tt/2aLb8wW
Cap comentari:
Publica un comentari a l'entrada