CR Bard’s Outlook for Q3

From today’s earnings call:

Now moving to financial guidance. For Q3, we are expecting constant currency sales growth between 1% and 3%, excluding any royalties from Gore. Our original sales guidance for the year was 0% to 3% growth, excluding the Gore royalties, and we expect to be squarely within that range. With respect to the Gore timing, as Tim said, we still expect cash in hand prior to the end of 2013.

From an EPS standpoint, excluding items affecting comparability, we see the third quarter in the range of $1.37 to $1.41 per share. To be clear, this guidance reflects the fact that we don’t expect to have final resolution of the Gore matter this month. And as we previously discussed, that reduces adjusted EPS by about $0.30 per share for the quarter.

With respect to full year EPS guidance, we’ll be in a better position to update you once we have seen the rulings from the District Court. Also, I’ll just finish by reminding you that in conjunction with the announcement of the divestiture of our EP business, we told you that would be about $0.05 dilutive to 2013 EPS assuming a late Q3 close.

Posted by on July 23rd, 2013 at 10:11 pm


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