Actavis Inc Earnings: Here’s Why Investors are Happy Now
Actavis Inc (NYSE:ACT) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.25%.
Actavis Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 41.55% to $2.01 in the quarter versus EPS of $1.42 in the year-earlier quarter.
Revenue: Rose 46.83% to $1.99 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $2.01 per share. By that measure, the company beat the mean analyst estimate of $2. It beat the average revenue estimate of $1.98 billion.
Quoting Management: “Actavis delivered another exceptional quarter of double-digit sales and earnings growth powered by strong generics launches in global markets by Actavis Pharma, continued strong sales of core specialty Brand products and consistent execution by our Global Operations team,” said Paul Bisaro, President and CEO of Actavis.
Key Stats (on next page)…
Revenue increased 4.97% from $1.9 billion in the previous quarter. EPS increased 1.01% from $1.99 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $2.07 to a profit $2.11. For the current year, the average estimate has moved up from a profit of $8.09 to a profit of $8.32 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)