Earnings from Express Scripts and CR Bard

After the closing bell, Express Scripts (ESRX) reported Q3 earnings of $1.74 per share. That matched Wall Street’s estimate on the nose. The company had previously given us a range of $1.72 to $1.76 per share.

Now for guidance. Express narrowed its full-year range from $6.33 – $6.43 per share to $6.36 – $6.42 per share. That translates to Q4 earnings of $1.84 to $1.90 per share. Wall Street had been expecting $1.85 per share. This was a good quarter for ESRX.

“The healthcare industry demands that we stay ahead of future trends and deliver solutions to emerging issues facing today’s market,” said Tim Wentworth, CEO and President. “Doing so deepens the trusted relationships we have built with our clients, resulting in another strong year in terms of client retention and new sales.”

Express also narrowed its expected retention rate for next year from 96% – 98% to 97% – 98%. It sounds minor but it’s very good to see.

CR Bard (BCR) reported Q3 earnings of $2.64 per share. That’s up 16% from last year, and it easily topped Wall Street’s estimate of $2.56 per share.

Timothy M. Ring, chairman and chief executive officer, commented, “The results this quarter demonstrate the continued strength of the economic engine of our business. We continue to increase investments in geographies, products, platforms, and programs that we believe can drive revenue growth longer term. During this period of increased investment in 2016, we have also been able to deliver attractive bottom-line returns for shareholders. We have increased our full-year financial guidance every quarter this year, and we are doing so again today. We expect a strong finish to what has been a very strong year for us so far.”

Bard now expects full-year sales growth of 8% to 9%. Excluding currency, that’s 9% to 10%. For earnings, Bard sees profits ranging between $10.23 and $10.28 per share. Their previous range was $10.10 to $10.20 per share. Wall Street had been expecting $10.17 per share.

Bard’s new range implies Q4 guidance of $2.70 to $2.75 per share. Wall Street had been expecting $2.74 per share. This was an excellent quarter for Bard.

Posted by on October 25th, 2016 at 5:10 pm


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