Mylan Earnings: Here’s Why Shares are Up Now
Mylan, Inc. (NASDAQ:MYL) 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 1%.
Mylan, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 13.33% to $0.68 in the quarter versus EPS of $0.60 in the year-earlier quarter.
Revenue: Rose 0.62% to $1.7 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Mylan, Inc. reported adjusted EPS income of $0.68 per share. By that measure, the company beat the mean analyst estimate of $0.67. It missed the average revenue estimate of $1.73 billion.
Quoting Management: Mylan CEO Heather Bresch commented: “Our second quarter results once again demonstrate the strength of our diverse, global platform. We continue to anticipate strong performance across our global platform for the remainder of the year and are reaffirming our 2013 adjusted diluted EPS guidance range of $2.75 – $2.95 per share.”
Key Stats (on next page)…
Revenue increased 4.32% from $1.63 billion in the previous quarter. EPS increased 9.68% from $0.62 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.87 and has not changed. For the current year, the average estimate is a profit of $2.87, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)