C.R. Bard’s Q4 sales, earnings beat estimates

C.R. Bard (NYSE:BCR) beat the consensus forecast with its 4th-quarter results yesterday, with both sales and earnings growing at a double-digit clip.

The Murray Hill, N.J.-based healthcare giant posted profits of $159.6 million, or $2.11 per share, on sales of $967.1 million for the 3 months ended Dec. 31, 2016. That amounts to profit growth of 17.1% on an 11.1% sales gain.

Adjusted to exclude 1-time items, earnings per share were $2.77, 3¢ ahead of the consensus on Wall Street, where analysts were looking for sales of $955.5 million.

Full-year profits were $531.4 million, or $7.15 per share, on sales of $3.71 billion, for a bottom-line gain of 292.5% on sales growth of 8.7%.

“Our strong performance in 2016 once again demonstrated the effectiveness of the execution of our strategic investment plan. We are seeing a broad contribution to growth across our portfolio, from each of our 4 businesses both domestically and internationally. We remain in investment mode and continue to focus on providing shareholders with above-average revenue growth and attractive profitability,” chairman & CEO Timothy Ring said in prepared remarks.

Bard said it expects to report adjusted EPS of $11.45 to $11.75 on sales growth of 4% and 5%.

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