Using the updated fiscal 2017 guidance as a base,
The company’s early fiscal 2018 outlook reflects the following:
- A significant increase in the Medical segment’s profit, including the contributions from the acquisition announced today. This acquisition is expected to contribute at least
$0.21Non-GAAP EPS accretion in fiscal 2018, assuming a first-quarter fiscal 2018 close,
- Several company-specific discrete items that, in the aggregate, will have a negative impact on EPS of at least
$0.50, approximately half of which is reflected in the Pharmaceutical segment decline mentioned below, and
- While the company expects generic deflation to moderate to mid-single digits in fiscal 2018, this deflation is still a headwind for the Pharmaceutical segment for the year. This, combined with the discrete items mentioned above, could result in an estimated Pharmaceutical segment profit decline in the high-single digits versus fiscal 2017.
In addition, fiscal 2019 Non-GAAP EPS is expected to grow at least high-single digits versus fiscal 2018.
The company expects to provide an update to its fiscal 2018 preliminary outlook at its fourth-quarter earnings call later this year.
Please also reference today’s release entitled “
Presentation slides and an audio replay will be archived on the website after the conclusion of the meeting. The audio replay will be available until
Non-GAAP Financial Measures (including footnote)
Footnote (1) Non-GAAP diluted earnings per share from continuing operations: (A) earnings from continuing operations, excluding (1) LIFO charges/(credits), (2) restructuring and employee severance, (3) amortization and acquisition-related costs, (4) impairments and (gain)/loss on disposal of assets, (5) litigation (recoveries)/charges, net, and (6) loss on extinguishment of debt, each net of tax, (B) divided by diluted weighted average shares outstanding.
Cautions Concerning Forward-Looking Statements
This release contains forward-looking statements addressing
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