Ireland-based Mallinckrodt Public Limited Company focuses on developing treatments for autoimmune and rare diseases (including neurology, rheumatology, nephrology and pulmonology) as well as therapies for pain management.
The company develops, manufactures, markets and distributes both branded and specialty generic pharmaceuticals. The company reports in two segments: Specialty Brands, Specialty Generics and Nuclear Imaging. Mallinckrodt is currently focused on reshaping its product portfolio through strategic acquisitions and non-core asset divestitures. The company sold its Nuclear Imaging business owing to persistent macroeconomic challenges and Intrathecal Therapy business to focus on its key areas.
We expect investor focus on the performance of Acthar, Inomax and Ofirmev.
Mallinckrodt has an excellent earnings track record with the company delivering positive earnings surprises in each of the last four quarters with a positive average earnings surprise of 5.27%.
Currently, Mallinckrodt 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: Mallinckrodt beat on earnings. Our consensus called for EPS of $1.73, and the company reported EPS of $1.85.
Revenue: Revenues however missed expectations. Mallinckrodt posted revenues of $824.5 million, compared to our consensus estimate of $827.3 million.
Key Stats: The top-line was under pressure due to weakness in the Specialty generics segment. Sales of Therakos were down as well.
Check back later for our full write up on this Mallinckrodt earnings report later!
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