Mylan (MYL) Q4 Earnings Surpass Estimates, Revenues Miss

Mylan N.V. MYL reported mixed results for fourth-quarter 2017 as EpiPen sales declined. Adjusted earnings of $1.43 per share beat the Zacks Consensus Estimate of $1.41 but was down from $1.57 reported in the year-ago quarter.

Mylan N.V. Price and Consensus

Mylan N.V. Price and Consensus | Mylan N.V. Quote

Fourth-quarter revenues of $3.24 billion missed the Zacks Consensus Estimate of $3.27 billion and were down 1% from the prior-year period.

Mylan’s stock has lost 10.9% over a year, better than the industry’s decline of 36.1%.

Quarter in Detail

The company posts results in three segments on a geographic basis namely North America, Europe and Rest of World.

North America segment’s third-party net sales came in at $1.30 billion, down 17% on a sales decline of existing products as a result of lower volume and pricing, partially offset by contribution from new products. The generics business in North America experienced higher price erosion than the previous quarters including the impact of the loss of market exclusivity of olmesartan and olmesartan HCTZ. Sales of the EpiPen Auto-Injector plunged significantly (a decrease of $131.9 million) due to effect of the launch of authorized generic and higher governmental rebates.

Third-party net sales from Europe were $1.07 billion, up 16%. This was propelled by new product introductions across the region combined with volume expansion and pricing on existing products. Favorable foreign currency translation had an impact of 9% within the continent.

Rest of World segment’s third-party net sales of $815.7 million was up 12%, driven by new products and increased net sales from the anti-retroviral franchise and higher sales in the emerging markets plus a favourable foreign currency translation had an impact of 3%.

Adjusted gross margin contracted to 55.5% from 56.6% in the year-ago quarter due to lower gross profit from the sales of existing products in North America including the EpiPen Auto-Injector, partially offset by the contributions from new products.

1 2 3
View single page >> |

Disclaimer: Neither Zacks Investment Research, Inc. nor its Information Providers can guarantee the accuracy, completeness, timeliness, or correct sequencing of any of the Information on the Web ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.