CareFusion Earnings: Here’s Why Investors Like These Results
CareFusion Corporation (NYSE:CFN) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.19%.
CareFusion Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 20.41% to $0.59 in the quarter versus EPS of $0.49 in the year-earlier quarter.
Revenue: Decreased 1.96% to $901 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: CareFusion Corporation reported adjusted EPS income of $0.59 per share. By that measure, the company beat the mean analyst estimate of $0.53. It missed the average revenue estimate of $909.16 million.
Quoting Management: “We continued to make good progress during the quarter on our strategies to build an efficient foundation across our businesses,” said Kieran T. Gallahue, chairman and CEO. “I’m proud of our team’s continued, disciplined efforts to reduce expenses, expand margins and fund investments in research and development and other growth initiatives.
“Our team executed well in the third quarter, with Medical Systems performing as we expected. The Procedural Solutions segment delivered strong top- and bottom-line results on solid performance across all three businesses and continued strength in our clinically differentiated portfolio.”
Key Stats (on next page)…