CR Bard Beats Earnings

CR Bard (BCR) reported Q1 earnings of $2.34 per share. That’s 17 cents better than Wall Street’s forecast. Sales rose 7% to $873.5 million. Adjusting for currency, sales were up 8%.

Timothy M. Ring, chairman and chief executive officer, commented, “Our strong results in the first quarter reflect continued momentum from the returns we have seen from our strategic investment plan. We continue to be in investment mode as we focus on shifting the mix of the portfolio to faster growth areas, including product and technology platforms, delivery platforms and increasing our presence in emerging markets.”

Bard is also raising their full-year guidance. They now see sales rising between 6% and 8%. Adjusting for currency, that’s an increase of 7% and 8.5%.

The old EPS range was $9.90 to $10.05. The new range is $10.05 to $10.18. That represents growth of 11% to 12% over last year.

This was another solid quarter for Bard. The shares made another new high today, and they’re up again in after hours-trading.

Posted by on April 27th, 2016 at 4:29 pm


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