Hill-Rom’s fiscal Q2 results beat estimates

Hill-Rom Holdings (NYSE:HRC) today reported fiscal second-quarter results that beat the consensus forecast on Wall Street.

The Chicago-based company posted profits of $42.2 million, or 62¢ per share, on sales of $683.5 million for the three months ended Dec. 31, 2018.

Adjusted to exclude one-time items, earnings per share were $1.04, 4¢ ahead of The Street, where analysts were looking for revenues of $676.4 million.

“We are pleased to start the year with continued momentum in accelerating core revenue growth and driving solid operational execution,” president & CEO John Groetelaars said in prepared remarks. “Our financial outlook reflects our commitment to drive innovative healthcare solutions, capitalize on our attractive growth prospects, and improve outcomes for patients and caregivers by advancing connected care.”

Hill-Rom said it expects to log adjusted EPS of $4.98 to $5.06 for fiscal 2019, compared with $5.08 to $5.16 previously, attributing the reduction to a newly adopted accounting standard. Annual revenue growth is now pegged at 2% to 3% on a constant-currency basis, the company said.

For fiscal Q2, Hill-Rom guided for adjusted EPS of $1.09 to $1.11 on sales growth of 2% on a constant-currency basis.

HRC shares were up 5.5% to $102.80 apiece today in early trading.

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