Biogen Idec Inc. (NASDAQ:BIIB) 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. Shares are up 3.7%.
Biogen Idec Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 28.57% to $1.8 in the quarter versus EPS of $1.40 in the year-earlier quarter.
Revenue: Rose 9.53% to $1.42 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Biogen Idec Inc. reported adjusted EPS income of $1.8 per share. By that measure, the company beat the mean analyst estimate of $1.61. It missed the average revenue estimate of $1.42 billion.
Quoting Management: “2013 is off to an exciting start for Biogen Idec and the patients we serve,” said George A. Scangos, Ph.D., Chief Executive Officer. “We achieved several milestones that expand our leadership in supporting people living with MS, including the launch of TECFIDERATM (dimethyl fumarate) in the US, acquisition of full rights and control of TYSABRI and a positive phase 3 trial for PLEGRIDYTM (Peginterferon beta-1a) in the treatment of relapsing-remitting multiple sclerosis.”
Key Stats (on next page)…
Revenue decreased 0.2% from $1.42 billion in the previous quarter. EPS increased 28.57% from $1.40 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 $1.78 to a profit $1.85. For the current year, the average estimate has moved up from a profit of $7.27 to a profit of $7.79 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)