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Mead Johnson Nutrition beats by $0.04, misses on revs; reaffirms FY15 EPS guidance
Reports Q1 (Mar) earnings of $1.09 per share, $0.04 better than the Capital IQ Consensus Estimate of $1.05; revenues fell 1.7% year/year to $1.09 bln vs the $1.13 bln consensus.
- Co reaffirms guidance for FY15, sees EPS of $3.90-4.00 vs. $4.00 Capital IQ Consensus Estimate; sees revenue growth around 7% in constant dollars with growth largely in the second half of the year as new initiatives are launched.
- The company currently expects the impact of adverse foreign currency translation to be approximately five percent, leading to reported sales growth of approximately two percent.