Biopharmaceutical company Baxalta Inc. (BXLT) provided earnings outlook for the fourth quarter mostly above analysts' estimates and also raised its earnings outlook for the second half of 2015.
For the fourth quarter of 2015, Baxalta expects adjusted earnings, before special items, of $0.55 to $0.57 per share and pro forma sales growth, excluding the impact of foreign currency, of 3 to 5 percent. Including the impact of foreign currency, the company expects pro forma sales to decline 1 to 3 percent.
On average, six analysts polled by Thomson Reuters expect the company to earn $0.55 per share. Analysts' estimates usually exclude special items.
The company noted that the fourth-quarter guidance translates into an improved outlook for the second half of 2015, which now includes adjusted earnings, before special items, of $1.11 to $1.13 per share. The company's previous earnings guidance range was for earnings of $1.02 to $1.04 per share.
Also for the second half of 2015, Baxalta now expects pro forma sales growth, excluding the impact of foreign currency, of about 8 to 9 percent, compared to its prior guidance of growth in the 5 to 6 percent range.
For fiscal 2015, Baxalta now projects pro forma sales growth, excluding the impact of foreign currency, of about 8 percent, up from its prior guidance of growth in the 6 to 7 percent range. Including the impact of foreign currency, the company now expects pro forma sales in 2015 to be comparable to 2014.
Further ahead, for fiscal 2016, Baxalta projects pro forma sales growth, excluding the impact of foreign currency, of 8 to 9 percent. Including the impact of foreign currency, the company expects pro forma sales growth of about 7 to 8 percent. Based on strong sales momentum and operating performance, Baxalta expects adjusted earnings, before special items, of $2.15 to $2.25 per share for full-year 2016.
The Street expects the company to earn $2.05 per share for the year.
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