CR Bard Earns $3.02 per Share

CR Bard (BCR) reported Q3 earnings of $3.02 per share. Wall Street had been expecting $2.95 per share.

Timothy M. Ring, chairman and chief executive officer, commented, “After over 110 years of operations, with 54 years as a public company, we believe this to be our last quarterly report as a stand-alone company, as we expect the merger with Becton, Dickinson and Company (“BD”) to be completed before the next reporting cycle. I want to thank our employees and directors for their tireless work and commitment to excellence over the years. I also want to thank our investors for their outstanding support. We believe the merger with BD will create a unique combination that will deliver meaningful benefits for customers and patients and provide long-term shareholder returns.”

Also in conjunction with the third quarter results, the company is increasing its 2017 reported revenue guidance and increasing its adjusted diluted earnings per share guidance. For the full year 2017, net sales are forecasted to increase between 5.5 percent and 6 percent on an as-reported basis. The company is maintaining its prior full-year constant currency revenue guidance. Full year 2017 diluted earnings per share, after adjusting for amortization of intangibles and certain items that affect comparability between periods are projected to be between $11.85 and $11.90, representing growth between 15 percent and 16 percent compared to full year 2016 results.

The previous range was $11.70 to $11.90 per share

Posted by on October 25th, 2017 at 4:24 pm


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