Dublin, Ireland-based Allergan plc is engaged in the development, manufacturing, marketing, sale and distribution of branded, biosimilar and over-the-counter pharmaceutical products.
Allergan has been actively pursuing deals to expand its portfolio especially its branded products offering. Having completed the acquisition of companies like Durata and Forest, Allergan acquired Botox maker, Allergan Inc., in Mar 2015. With this acquisition, Allergan, which was previously known for its strong presence in the generics market, finds itself in the company of the top 10 pharmaceutical companies across the world based on sales.
Meanwhile, earlier this month, Allergan divested its generics business to Teva and also signed an agreement to sell its Anda distribution segment. Allergan has been treating its generics business as discontinued operations and will treat the Anda distribution segment as discontinued operations from the second quarter of 2016.
In the trailing four quarters, Allergan posted an average positive earnings surprise of 2.90%. In fact, it beat earnings estimates on three occasions, while posting in line results in one.
Currently, Allergan has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Beat: Allergan’s second-quarter earnings of $3.35 per share were above our consensus estimate of $3.28 per share.
Revenues Fall Short: Revenues, however, missed expectations. Allergan posted revenues of $3.68 billion, compared to our consensus estimate of $4.14 billion.
Key Stats: Branded products like Botox, Restasis and Namenda XR brought in sales of $189.9 million, $371.3 million and $166.5 million, respectively.
Revises 2016 Outlook: Allergan updated its guidance for 2016. The updated guidance excludes the impact of Anda from net revenues and expenses. Allergan expects total net revenues in the range of $14.65 billion to $14.90 billion in 2016. Previously, Allergan had anticipated total net revenues of about $17 billion. The Zacks Consensus Estimate for revenues is currently $16.62 billion. Branded net revenues are expected in the range of $14.75 billion to $15 billion in 2016. Previously, branded net revenues were expected to be approximately $15 billion in 2016.
Allergan expects earnings in the range of $13.75 to $14.20 per share in 2016. The Zacks Consensus Estimate for earnings is currently $14.01 per share.
Check back later for our full write up on this AGN earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Image: Bigstock
Allergan (AGN) Beats on Q2 Earnings, Misses on Revenues
Dublin, Ireland-based Allergan plc is engaged in the development, manufacturing, marketing, sale and distribution of branded, biosimilar and over-the-counter pharmaceutical products.
Allergan has been actively pursuing deals to expand its portfolio especially its branded products offering. Having completed the acquisition of companies like Durata and Forest, Allergan acquired Botox maker, Allergan Inc., in Mar 2015. With this acquisition, Allergan, which was previously known for its strong presence in the generics market, finds itself in the company of the top 10 pharmaceutical companies across the world based on sales.
Meanwhile, earlier this month, Allergan divested its generics business to Teva and also signed an agreement to sell its Anda distribution segment. Allergan has been treating its generics business as discontinued operations and will treat the Anda distribution segment as discontinued operations from the second quarter of 2016.
In the trailing four quarters, Allergan posted an average positive earnings surprise of 2.90%. In fact, it beat earnings estimates on three occasions, while posting in line results in one.
Currently, Allergan has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Beat: Allergan’s second-quarter earnings of $3.35 per share were above our consensus estimate of $3.28 per share.
Revenues Fall Short: Revenues, however, missed expectations. Allergan posted revenues of $3.68 billion, compared to our consensus estimate of $4.14 billion.
Key Stats: Branded products like Botox, Restasis and Namenda XR brought in sales of $189.9 million, $371.3 million and $166.5 million, respectively.
Revises 2016 Outlook: Allergan updated its guidance for 2016. The updated guidance excludes the impact of Anda from net revenues and expenses. Allergan expects total net revenues in the range of $14.65 billion to $14.90 billion in 2016. Previously, Allergan had anticipated total net revenues of about $17 billion. The Zacks Consensus Estimate for revenues is currently $16.62 billion. Branded net revenues are expected in the range of $14.75 billion to $15 billion in 2016. Previously, branded net revenues were expected to be approximately $15 billion in 2016.
Allergan expects earnings in the range of $13.75 to $14.20 per share in 2016. The Zacks Consensus Estimate for earnings is currently $14.01 per share.
Check back later for our full write up on this AGN earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>