Teva Issues FY23 Adj. Earnings, Revenue Outlook - Update

Teva Pharmaceutical Industries Limited (TEVA), while announcing sharply wider net loss and weak revenues in its fourth quarter, issued forecast for fiscal 2023.

For the new year, adjusted earnings per share is expected to be $2.25 to $2.55 and adjusted EBITDA of $4.5 billion to $4.9 billion, on revenues of $14.8 billion to $15.4 billion.

In fiscal 2022, the company's adjusted earnings were $2.52 per share and adjusted EBITDA was $4.6 billion on revenues of $14.9 billion.

On average, analysts polled by Thomson Reuters expect earnings of $2.52 per share on revenues of $15.23 billion for the year. Analysts' estimates typically exclude special items.

Further, free cash flow is expected to be $1.7 billion to $2.1 billion.

In the fourth quarter, net loss attributable to the company was $1.22 billion or $1.10 per share, wider than last year's loss of $159 million or $0.14 per share.

Adjusted earnings were $791 million or $0.71 per share for the period. Analysts projected $0.71 per share.

Net revenues fell to $3.88 billion from $4.10 billion in the same period last year. Analysts projected revenues of $3.93 billion for the quarter.

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