Mead Johnson Nutrition beats by $0.03, reports revs in-line; guides FY14 EPS in-line (99.93)
Reports Q3 (Sep) earnings of $0.93 per share, $0.03 better than the Capital IQ Consensus Estimate of $0.90; revenues rose 4.2% year/year to $1.09 bln vs the $1.08 bln consensus.
- Co issues in-line guidance for FY14, sees EPS of $3.65-3.72 vs. $3.71 Capital IQ Consensus Estimate.
- "With nine months of 2014 behind us, we anticipate that full-year constant dollar sales growth will be approximately nine percent," Mr. Jakobsen said.
- "While individual markets may experience short-term volatility, we expect our diverse geographic portfolio will allow us to deliver continued solid revenue growth, and we further expect to rebuild profit margins in the coming quarters as dairy input costs moderate. We reaffirm our EPS guidance for the year." In Asia, we worked to reduce system inventory in China ahead of the Enfamil re-launch planned for the fourth quarter. This negatively impacted sales for the quarter in the Asia segment. Overall, we are satisfied with the progress made in the latest quarter."