Hill-Rom shares tick up on Street-topping Q1 prelims

Hill-Rom Holdings (NYSE:HRC) today saw shares lift today after it released preliminary fiscal first quarter revenue that topped expectations on The Street.

For its first quarter of fiscal year 2018, Chicago-based Hill-Rom said it expects to post sales of approximately $670 million, up 5% from its fiscal first quarter last year.

The preliminary sales numbers were slightly ahead of the $656.5 million consensus on The Street.

Adjusted earnings per diluted share are expected to be between 77¢ and 79¢, which is in line with the 79¢ expectation on Wall Street.

“We are pleased to start fiscal 2018 with stronger-than-expected financial performance in the first quarter. This performance reflects solid growth across our broad portfolio and continued momentum internationally. We expect this revenue performance to result in adjusted earnings per diluted share above the high-end of our guidance range for our first fiscal quarter, and expect to further benefit from the recently signed U.S. tax reform legislation,” prez & CEO John Greisch said in a press release.

Hill-Rom said it also expects that recently past new US tax regulations will have a positive impact on its adjusted effective tax rate moving forward. The company said it will release full information on its first quarter later today.

Shares in the company rose 0.6% today, closing at $88.34.

In November, Hill-Rom said it was under pressure after it reported fourth-quarter and full-year results that beat Wall Street’s consensus on earnings but missed its sales forecast.

The post Hill-Rom shares tick up on Street-topping Q1 prelims appeared first on MassDevice.

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