Mylan stock drops 6% as earnings, forecast come in short of profit expectations

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Mylan NV MYL, -1.

13% reported smaller profit than expected in the fourth quarter and predicted earnings for 2019 would be substantially lower than analysts' projections Tuesday, pushing shares down more than 6% in late trading. The pharmaceutical giant reported fourth-quarter earnings of $51.2 million, or 10 cents a share, on sales of $3.08 billion, down from $3.24 billion a year ago. After taking out restructuring charges and other costs, the company claimed adjusted earnings of $1.30 a share, down from $1.

For 2019, Bresch promised "a strong top-line financial performance," but the bottom line again looks problematic. Mylan forecast adjusted earnings of $3.80 a share to $4.80 a share on revenue of $11.5 billion to $12.5 billion, while analysts on average were predicting 2019 adjusted profit of $5.03 a share on revenue of $11.79 billion, according to FactSet. Mylan previously guided for 2019 revenue of $11.25 billion to $12.25 billion. Mylan shares closed with a 1.1% decline at $30.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Dropbox stock rises after earnings and revenue top expectations
Source: MarketWatch - 🏆 3. / 97 Read more »

Hewlett Packard Enterprise stock pops after earnings beat, raised forecast
Source: MarketWatch - 🏆 3. / 97 Read more »

Macy's shares rise after earnings and sales beat expectationsIt’s the ap!
Source: MarketWatch - 🏆 3. / 97 Read more »

Equifax disappoints with earnings and forecast as it spends on tech and security
Source: MarketWatch - 🏆 3. / 97 Read more »

Kraft Heinz Discloses SEC Probe, Misses Earnings ForecastsSecurities regulators are investigating Kraft Heinz over its procurement practices, the company disclosed as it reported a loss from a significant write-down in the value of some of its best-known brands. Bye bye Heinz, people want real tomatoes... This is not a good sign for the economy Could you share more details on which brands were written down, how those intangible assets valuations were
Source: WSJ - 🏆 98. / 63 Read more »

Home Depot forecasts poor 2019 earnings as U.S. housing momentum slowsHome Depot Inc projected 2019 earnings below Wall Street forecasts on Tuesday, a... That's sounds like rally time! Meanwhile, home builders ETF $XHB up 19% this year. Time for a short? Methinks so. Wonder how many folks are boycotting HD because its owner is a Trump supporter? I am
Source: Reuters - 🏆 2. / 97 Read more »