Hill-Rom Holdings (HRC) Tops Q3 EPS by 49c, Revenues Beat; Offers FY20 EPS Guidance Below Consensus
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Hill-Rom Holdings (NYSE: HRC) reported Q3 EPS of $1.95, $0.49 better than the analyst estimate of $1.46. Revenue for the quarter came in at $7.68 million versus the consensus estimate of $749.39 million.
"I'd like to acknowledge the dedication and contributions of the entire Hillrom team for their extraordinary efforts to deliver critical products and solutions in response to the COVID-19 pandemic. Their responsiveness was instrumental in driving record financial performance during the fiscal third quarter," said John Groetelaars, Hillrom president and CEO. "We remain confident in the compelling value propositions of our products, underlying fundamentals and sustainability of our diverse growth platforms as we continue to navigate the uncertain business and healthcare environment. Hillrom's vision of Advancing Connected Careā¢ has become more vital as we support the evolving needs of our customers."
GUIDANCE:
Hill-Rom Holdings sees FY2020 EPS of $5.40, versus the consensus of $5.54.
As expected, Hillrom's diverse portfolio experienced tailwinds with peak demand across a portion of its portfolio during the fiscal third quarter, which now appears to be normalizing. In addition, the company is seeing signs of recovery across select areas of the portfolio that have been negatively impacted by project delays, hospital access and reduced physician office visits, including various product categories in the Front Line Care and Care Communications businesses. While the company is not reinstating financial guidance due to the ongoing uncertainty, scope and evolving nature of the COVID-19 pandemic, given strong financial performance through the fiscal third quarter and effective management of the company during this challenging period, Hillrom now projects fiscal 2020 adjusted earnings of at least $5.40 per diluted share.
Hillrom will continue to actively monitor and assess business operations and will provide additional information as appropriate. The company 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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