Mylan N.V. beats by $0.02, misses on revs; reaffirms FY19 EPS, revs guidance (28.26)
- Reports Q1 (Mar) earnings of $0.82 per share, excluding non-recurring items, $0.02 better than the S&P Capital IQ Consensus of $0.80; revenues fell 7.0% year/year to $2.5 bln vs the $2.7 bln S&P Capital IQ Consensus.
- "Mylan's first quarter represents a solid start to the year and we remain positioned to reaffirm our guidance for 2019. We continue to manage an increasingly diverse portfolio of products across all three segments of our business, and given the evolution of our commercial and geographic mix see opportunities to enhance our investments for certain areas of our portfolio. In the U.S., where the industry continues to experience volatility, we are leveraging past experience and applying key learnings to our largest launches, like Wixela, even as we advocate for policies that seek to put the patient first. With that said, our top-line results fell within the range of where we thought they would be at $2.5 billion. On the bottom line, we came in ahead of where we expected at $0.82 of adjusted EPS, mainly due to gross margins coming in at the high end of our guidance range while also having some positive offsets from a timing perspective in G&A against our increased sales and marketing spend. We look forward to continue delivering on our mission of access in the remaining quarters of the year and investing in a Mylan that's built to last."
- Co reaffirms guidance for FY19, sees EPS of $3.80-4.80, excluding non-recurring items, vs. $4.42 S&P Capital IQ Consensus; sees FY19 revs of $11.5-12.5 bln vs. $11.96 bln S&P Capital IQ Consensu