Follow-up on CR Bard’s Earnings

This was too late for the newsletter, but here’s CR Bard‘s (BCR) guidance:

With regard to the full year, we now expect constant currency sales growth to be between 5% and 6%, and organic sales growth to be between 5.5% and 6.5%, which is a full 150 basis point improvement from our original guidance in January, and we now expect foreign exchange to reduce sales for both Q3 and the full year by about 350 basis points.

From an EPS standpoint, excluding items affecting comparability, we expect the third quarter in the range of $2.21 to $2.25 per share, reflecting a somewhat lower gross margin, and the higher R&D spend compared to Q2 in the prior year.

For the full year, we are increasing our adjusted EPS guidance by $0.05 to a range of $9 to $9.10. This higher range reflects modest dilution from our recent acquisition, and the increased investments we expect to make in SG&A and R&D during the second half of 2015.

In summary, the first half of the year has gone quite well, from both a sales and profitability perspective. As we now move to the second half, we remain focused on executing our investment plan and pursuing strategic opportunities, with a clear objective of driving attractive and sustainable revenue growth, profitability, and shareholder returns over the long-term.

The stock is up 5.5% today.

Here’s the CEO of Snap-on (SNA) saying that their U.S. business is going “gangbusters.”

Posted by on July 24th, 2015 at 10:11 am

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