Actavis (NYSE:ACT) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Actavis Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 21.34% to $1.99 in the quarter versus EPS of $1.64 in the year-earlier quarter.
Revenue: Rose 24.35% to $1.9 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Actavis reported adjusted EPS income of $1.99 per share. By that measure, the company beat the mean analyst estimate of $1.86. It missed the average revenue estimate of $1.97 billion.
Quoting Management: “The new Actavis is off to a strong start in 2013, and as a result, we are increasing our 2013 forecast based on the strong performance and execution against our objectives to date,” said Paul Bisaro, President and CEO.
Key Stats (on next page)…