Hill-Rom Holdings (HRC) Tops Q2 EPS by 13c, Revenues Beat

Hill-Rom Holdings (NYSE: HRC) reported Q2 EPS of $1.28, $0.13 better than the analyst estimate of $1.15. Revenue for the quarter came in at $723 million versus the consensus estimate of $701.64 million.

"During this unprecedented and challenging period, Hillrom's mission of enhancing outcomes for patients and caregivers has never been more vital. I am extremely proud of the entire Hillrom organization, their dedication, and extraordinary contributions team members are making to support our customers as we fight this pandemic. We rapidly expanded production of critical care products, pivoted R&D efforts, and are now introducing a spectrum of new products to meet unique COVID-19 treatment challenges," said John Groetelaars, Hillrom president and CEO. "We remain confident in our ability to navigate this uncertain business and healthcare environment. The combination of our financial strength, diverse portfolio of innovative products, services and solutions, and exceptional execution, underscores our unwavering commitment to enhancing value for stakeholders."

2020 Financial Outlook

Hillrom has seen an increase in demand across many areas of the portfolio, which has continued into the fiscal third quarter; however, it is now also experiencing project delays, primarily in its Surgical Solutions and Care Communications businesses, and impacts to other products as a result of fewer physician office visits. As a result, and given the ongoing uncertainty, scope and evolving nature of the pandemic, Hillrom is not in a position to reasonably estimate the net effect of these dynamics on its full-year operations and financial results at this time. Hillrom will continue to actively monitor and assess business operations and will provide additional information as appropriate. Hillrom remains confident in the long-term underlying strength of its business portfolio, its strategic direction and future growth prospects.

For earnings history and earnings-related data on Hill-Rom Holdings (HRC) click here.

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