CR Bard Earnings: Here’s Why Investors are Excited Now
CR Bard Inc. (NYSE:BCR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.35%.
CR Bard Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 10.56% to $1.44 in the quarter versus EPS of $1.61 in the year-earlier quarter.
Revenue: Rose 1.41% to $740.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: CR Bard Inc. reported adjusted EPS income of $1.44 per share. By that measure, the company beat the mean analyst estimate of $1.42. It beat the average revenue estimate of $728.45 million.
Quoting Management: Timothy M. Ring, chairman and chief executive officer, commented, “We are off to a strong start executing on our strategic investment plan that we announced last quarter. It’s a credit to our teams around the world that we have been able to hit our initial targets on such a broad and ambitious endeavor. The organization is energized and committed to improve the long-term growth trajectory of the business.”
Key Stats (on next page)…
Revenue decreased 2.92% from $762.6 million in the previous quarter. EPS decreased 15.29% from $1.70 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $1.69 to a profit $1.46. For the current year, the average estimate has moved down from a profit of $6.84 to a profit of $6.29 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)