Actavis, Inc. Earnings: Here’s Why Investors Like These Results
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 1.41%.
Actavis, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 10.17% to $1.59 in the quarter versus EPS of $1.77 in the year-earlier quarter.
Revenue: Was the same at $1.75 billion as the year-earlier quarter.
Actual vs. Wall St. Expectations: Actavis, Inc. reported adjusted EPS income of $1.59 per share. By that measure, the company beat the mean analyst estimate of $1.53. It beat the average revenue estimate of $1.74 billion.
Quoting Management:“With the close of the Actavis acquisition and combination of our two companies, under our new global name, Actavis, Inc., we are beginning 2013 on a solid commercial and financial foundation, well-positioned for sustainable long-term growth,” said Paul Bisaro, President and CEO.
Key Stats (on next page)…
EPS increased 17.78% from $1.35 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 $1.86 to a profit $1.88. For the current year, the average estimate has moved up from a profit of $5.92 to a profit of $5.94 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)