The 10-second takeaway
For the quarter ended March 31 (Q1), CR Bard beat slightly on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue grew slightly. Non-GAAP earnings per share contracted. GAAP earnings per share contracted significantly.
Margins dropped across the board.
CR Bard reported revenue of $740.3 million. The 17 analysts polled by S&P Capital IQ anticipated a top line of $729.5 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.44. The 19 earnings estimates compiled by S&P Capital IQ anticipated $1.42 per share. Non-GAAP EPS of $1.44 for Q1 were 11% lower than the prior-year quarter's $1.61 per share. GAAP EPS of $1.08 for Q1 were 33% lower than the prior-year quarter's $1.60 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 60.1%, 160 basis points worse than the prior-year quarter. Operating margin was 22.9%, 450 basis points worse than the prior-year quarter. Net margin was 12.3%, 670 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $749.6 million. On the bottom line, the average EPS estimate is $1.46.
Next year's average estimate for revenue is $3.06 billion. The average EPS estimate is $6.29.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 270 members out of 279 rating the stock outperform, and nine members rating it underperform. Among 102 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 101 give CR Bard a green thumbs-up, and one give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on CR Bard is hold, with an average price target of $104.75.
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