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Teva (TEVA) Q1 Earnings In-Line, Sales Miss, Shares Up
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Israel-based Teva Pharmaceutical Industries Ltd. (TEVA - Free Report) is a global pharmaceutical company with a strong presence in the generics as well as branded markets. The company’s branded products include Copaxone (multiple sclerosis - MS), Azilect (Parkinson’s disease) and respiratory products like ProAir and Qvar. Moreover, the company has several candidates in its pipeline, which are in different stages of development for the treatment of multiple sclerosis and asthma.
In early Aug 2016, Teva acquired Allergan’s generics business – Actavis Generics and in Oct 2016 it acquired the latter’s Anda Inc., the 4th largest distributor of generic pharmaceuticals in the U.S.
Teva’s earnings have surpassed expectations in three of the last four quarters and met the same in the remaining one, delivering an average positive surprise of 3.35%.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings In-Line: Teva’s first quarter earnings (including equity compensation expenses), came in at $1.03 per share, in-line with the consensus estimate.
Revenues Miss: Teva posted revenues of $5.63 billion, missing consensus estimates of $5.80 billion by 3%. Sales, however, increased 17% year over year mainly due to the inclusion of Actavis revenues.
Key Statistics: Generic segment sales were $3.06 billion, up 24% year over year while Specialty segment sales were $2.02 billion, down 6%.
Lead branded product, multiple sclerosis drug Copaxone, posted worldwide sales of $970 million, down 4% due to lower volumes of the 20 mg formulation which has started facing generic competition.
Teva said it expects to realize cost savings of approximately $1.5 billion by the end of 2017, an increase of $200 million from previous expectations.
Keeps 2017 Outlook: Teva maintained its 2017 sales and earnings outlook. Teva expects revenues in a range of $23.8–$24.5 billion and earnings in a band of $4.90–$5.30 per share in 2017
Share Price Impact: Shares were up 2.2% in pre-market trading.
Teva Pharmaceutical Industries Limited Price and Consensus
Check back later for our full write up on this TEVA earnings report later!
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Teva (TEVA) Q1 Earnings In-Line, Sales Miss, Shares Up
Israel-based Teva Pharmaceutical Industries Ltd. (TEVA - Free Report) is a global pharmaceutical company with a strong presence in the generics as well as branded markets. The company’s branded products include Copaxone (multiple sclerosis - MS), Azilect (Parkinson’s disease) and respiratory products like ProAir and Qvar. Moreover, the company has several candidates in its pipeline, which are in different stages of development for the treatment of multiple sclerosis and asthma.
In early Aug 2016, Teva acquired Allergan’s generics business – Actavis Generics and in Oct 2016 it acquired the latter’s Anda Inc., the 4th largest distributor of generic pharmaceuticals in the U.S.
Teva’s earnings have surpassed expectations in three of the last four quarters and met the same in the remaining one, delivering an average positive surprise of 3.35%.
Currently, TEVA has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings In-Line: Teva’s first quarter earnings (including equity compensation expenses), came in at $1.03 per share, in-line with the consensus estimate.
Revenues Miss: Teva posted revenues of $5.63 billion, missing consensus estimates of $5.80 billion by 3%. Sales, however, increased 17% year over year mainly due to the inclusion of Actavis revenues.
Key Statistics: Generic segment sales were $3.06 billion, up 24% year over year while Specialty segment sales were $2.02 billion, down 6%.
Lead branded product, multiple sclerosis drug Copaxone, posted worldwide sales of $970 million, down 4% due to lower volumes of the 20 mg formulation which has started facing generic competition.
Teva said it expects to realize cost savings of approximately $1.5 billion by the end of 2017, an increase of $200 million from previous expectations.
Keeps 2017 Outlook: Teva maintained its 2017 sales and earnings outlook. Teva expects revenues in a range of $23.8–$24.5 billion and earnings in a band of $4.90–$5.30 per share in 2017
Share Price Impact: Shares were up 2.2% in pre-market trading.
Teva Pharmaceutical Industries Limited Price and Consensus
Teva Pharmaceutical Industries Limited Price and Consensus | Teva Pharmaceutical Industries Limited Quote
Check back later for our full write up on this TEVA earnings report later!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>