Allergan beats by $0.02, reports revs in-line; guides Q4 EPS above consensus
Reports Q3 (Sep) earnings of $1.78 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $1.76; revenues rose 16.5% year/year to $1.82 bln vs the $1.8 bln consensus.
Co guided for Q3 non-GAAP EPS of $1.76-1.78 vs. $1.47 consensus on October 9.
Total specialty pharmaceuticals net sales increased 14.3 percent, or 14.6 percent on a constant currency basis, compared to total specialty pharmaceuticals net sales in the third quarter of 2013. Total core medical devices net sales increased 30.4 percent, or 31.1 percent on a constant currency basis, compared to total core medical devices net sales in the third quarter of 2013.
Co issues guidance for Q4, sees EPS of $1.80-1.83 vs. $1.79 Capital IQ Consensus Estimate; sees Q4 total product net sales of $1.845-1.920 bln, may not be comparable to $1.89 bln Capital IQ Consensus Estimate. Co raises FY14 EPS to $6.27-6.30 from $6.20-6.25.
VRX this morning said it was prepared to raise its bid for AGN, provide value of at least $200/share