Mylan NV (MYL - Free Report) just released its third quarter fiscal 2016 financial results, posting earnings of $1.38 per share and revenues of $3.06 billion. MYL is a #4 (Sell), and is up 0.21% to $39.00 per share in after-hours trading shortly after its earnings report was released.
Missed earnings estimates. The company reported earnings of $1.38 cents per share, missing the Zacks Consensus Estimate of $1.50 per share and falling 3.5% year-over-year. This number excludes $1.61 from non-recurring items.
Missed revenue estimates. The company saw revenue figures of $3.06 billion, lagging behind our consensus estimate of $3.230 billion but rising 13.4% year-over-year.
Mylan reported that its Generics segment third party brought in net sales of $2.61 billion, up 17% (or 16% on an adjusted basis) compared to the prior year period. Specialty segment third party net sales came in at $418.7 million, down 4% year-over-year.
Looking ahead, Mylan “remains committed” to its recently updated full-year 2016 adjusted EPS guidance of $4.70 to $4.90 per share, and to its 2018 adjusted EPS target of $6.00 per share.
Mylan CEO Heather Bresch commented, "Our third quarter results were consistent with the full year guidance we provided a few weeks ago. During the quarter, we reported strong performance across our European and Rest of World regions, as well as solid performance across our North American region…In our Specialty segment, while EpiPen® Auto-Injector scripts grew quarter-over-quarter, volumes were down due to the lack of wholesaler purchases in the quarter in anticipation of our upcoming generic launch.”
Here’s a graph that looks at Mylan’s price, consensus, and EPS surprise:
Mylan NV is a pharmaceutical company. The company develops, licenses, manufactures, markets and distributes generic and specialty pharmaceuticals. It operates primarily in the United States, Canada, Europe, the Middle East, Africa, India, Australia, Japan and New Zealand. Mylan NV, formerly known as Mylan Inc., is based in Canonsburg, Pennsylvania.
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