Allergan Inc. (NYSE:AGN) 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 1.97%.
Allergan Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 14.02% to $1.22 in the quarter versus EPS of $1.07 in the year-earlier quarter.
Revenue: Rose 7.13% to $1.6 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Allergan Inc. reported adjusted EPS income of $1.22 per share. By that measure, the company beat the mean analyst estimate of $1.20. It beat the average revenue estimate of $1.56 billion.
Quoting Management: “In the second quarter, double digit sales and earnings growth is in line with our long term growth aspirations,” said David E.I. Pyott, Allergan’s Chairman of the Board and Chief Executive Officer. “We are also pleased with further R&D progress with the FDA Advisory Committee’s unanimous recommendation for JUVÉDERM VOLUMA™ XC and with the filing of OZURDEX® for diabetic macular edema in both the United States and Europe.”
Key Stats (on next page)…
EPS increased 24.49% from $0.98 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 $1.20 to a profit $1.21. For the current year, the average estimate has moved down from a profit of $4.75 to a profit of $4.74 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)