Hill-Rom Holdings, Inc. revised earnings guidance for the first quarter ended December 31, 2017. The company announced unaudited preliminary fiscal first quarter revenue for the period ended December 31, 2017, and commented on the expected impact of the newly signed U.S. tax reform legislation. For the fiscal first quarter 2018, the company expects worldwide revenue of approximately $670 million, an increase of 5% compared to the fiscal first quarter of last year, or 3% on a constant currency basis. Core revenue increased approximately 2%, exceeding the company's previously issued guidance of flat core revenue growth. Core revenue excludes foreign currency, Mortara, divestitures and other non-strategic assets the company may exit. Hill-Rom now expects fiscal first quarter adjusted earnings per diluted share, excluding a benefit from the newly signed U.S. tax reform legislation and special items, to exceed its previously issued guidance range of $0.77 to $0.79 per diluted share.

The company pleased to start fiscal 2018 with stronger-than-expected financial performance in the first quarter 2018. For fiscal 2018 and future periods, the company expects an adjusted effective tax rate benefit of approximately 500 basis points compared to its prior 2018 adjusted tax rate guidance of approximately 29%.