Allergan Inc. Earnings Cheat Sheet: Swinging to a Profit

S&P 500 (NYSE:SPY) component Allergan Inc. (NYSE:AGN) reported its results for the third quarter. Allergan is a global specialty health care company. It discovers, develops, and commercializes innovative pharmaceuticals, biologics, and medical devices, as well as over-the-counter products.

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Allergan Earnings Cheat Sheet for the Third Quarter

Results: Reported a profit of $249.8 million (81 cents per diluted share) in the quarter. The drug manufacturer had a net loss of $670.5 million or a loss of $2.21 per share in the year earlier quarter.

Revenue: Rose 9.9% to $1.33 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: AGN reported adjusted net income of 92 cents per share. By that measure, the company beat the mean estimate of 90 cents per share. Analysts were expecting revenue of $1.33 billion.

Quoting Management: “We are very pleased with the progress of the launch of BOTOX for chronic migraine in the United States and with the opportunity represented by the recent approvals of BOTOX for urinary incontinence in adults with neurologic conditions,” said David E.I. Pyott, Allergan’s Chairman of the Board, President and Chief Executive Officer. “Furthermore, we are encouraged by the continuing good growth of our global cash pay businesses in the quarter.”

Key Stats:

Revenue has risen the past four quarters. Revenue increased 13.6% to $1.42 billion in the second quarter. The figure rose 10.1% in the first quarter from the year earlier and climbed 6.9% in the fourth quarter of the last fiscal year from the year-ago quarter.

The company has now topped analyst estimates for the last three quarters. It beat the mark by one cent in the second quarter and by 3 cents in the first quarter.

Looking Forward: The average estimate for the fourth quarter remains unchanged at $1.01 a share. For the fiscal year, the average estimate has been unchanged at $3.64 a share.

Competitors to Watch: Johnson & Johnson (NYSE:JNJ), Inspire Pharmaceuticals, Inc. (NASDAQ:ISPH), ISTA Pharmaceuticals, Inc. (NASDAQ:ISTA), Endo Pharmaceuticals (NASDAQ:ENDP), Medicis Pharmaceutical Corp. (NYSE:MRX), Akorn, Inc. (NASDAQ:AKRX), Novartis AG (NYSE:NVS), GlaxoSmithKline plc (NYSE:GSK), Merck & Co., Inc. (NYSE:MRK), and Hospira, Inc. (NYSE:HSP).

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(Source: Xignite Financials)

 

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