Teva Pharma Q3 Profit Down, Misses Estimates; Cuts Annual Revenue Outlook - Update

(Adds Outlook)

Teva Pharmaceutical Industries Limited (TEVA) revealed earnings for third quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $56 million, or $0.05 per share. This compares with $292 million, or $0.26 per share, in last year's third quarter.

Excluding items, Teva Pharmaceutical Industries Limited reported adjusted earnings of $658 million or $0.59 per share for the period.

Analysts on average had expected the company to earn $0.62 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 7.5% to $3.60 billion from $3.89 billion last year.


Excluding items, Teva cut full- year revenue outlook to $14.8 billion - $15.4 billion from the previous view of $15 billion - $15.6 billion. The company cited continued foreign exchange headwinds.

Teva Pharmaceutical Industries Limited earnings at a glance (GAAP) :

-Earnings (Q3): $56 Mln. vs. $292 Mln. last year.
-EPS (Q3): $0.05 vs. $0.26 last year.
-Analyst Estimates: $0.62
-Revenue (Q3): $3.60 Bln vs. $3.89 Bln last year.

Full year EPS guidance: $2.40 - $2.60
Full year revenue guidance: $14.8 - $15.4 Bln

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT