Mylan quarterly profit, 2019 forecast miss Wall Street estimates

Bresch said she believes the committee is nearing completion of its review, and is considering anything and everything to increase value for shareholders.

Excluding one-time items, the company said it earned $1.30 per share, missing analysts’ average expectations by 6 cents, according to IBES data from Refinitiv.

For 2019, the EpiPen maker forecast adjusted earnings of $3.80 to $4.80 a share and revenue of $11.5 billion to $12.5 billion. Analysts, on average were estimating earnings of $5.04 per share and sales of $11.9 billion.

Revenue for the quarter fell 5 percent to $3.08 billion.

Mylan received a warning letter from the U.S. Food and Drug Administration in November, flagging “significant” manufacturing violations at the Morgantown plant, including “inadequate” cleaning of equipment. The agency also said Mylan failed to thoroughly investigate batches of medicines that failed to meet specifications.

The company said fixing issues at the plant and layoffs that predate the warning letter hurt North American sales in the quarter.

Net earnings fell to $51.2 million, or 10 cents per share, in the quarter, from $244.3 million, or 46 cents per share, a year earlier.

Mylan’s shares closed at $30.62 on the Nasdaq on Tuesday, but fell by about $3 in after-the-bell trading.

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