Teva Pharmaceutical Earnings In Line, Apollo Global Management Misses
As of this writing, shares of Teva were up 0.19% to $56.58, while shares of Apollo Global were flat at $25.16 per share.
Teva Pharmaceuticals and Apollo Global Management LLC (NYSE:APO) Management released their earnings results from their most recently completed quarters this morning. Teva posted non-GAAP earnings of $1.31 per share, an 8% decline, on $5.2 billion in revenue. Analysts had been expecting earnings of $1.31 per share on $5.17 billion in revenue.
Apollo Global Management posted economic net income of 23 cents per share after taxes on $299.1 million in revenue. Total net income attributed to Apollo Global was 62 cents per share or $168.2 million. Analysts had been expecting earnings of 45 cents per share on $423.08 million in revenue.
Key metrics from Teva’s earnings report
Teva’s GAAP earnings increased 78% year over year to 80 cents per share. Non-GAAP operating income for the quarter rose 10% to $1.5 billion, while GAAP income increased 68% to $0.9 billion. The company’s non-GAAP operating margin improved from 25% in the fourth quarter of 2013 to 28.9% in the fourth quarter of 2014.
For the full year, Teva reported non-GAAP earnings of $5.07 per share, a 1% increase, and GAAP earnings of $3.56 per share, a 139% increase. Full year operating income margin improved from 25.6% in 2013 to 28.3% in 2014.
Teva recorded revenues of $2.5% from generic medicines, an 8% decline. The company’s specialty medicines saw revenue rise 1% to $2.2 billion for the fourth quarter.
Key metrics from Apollo Global Management’s earnings report
Apollo Global Management reported GAAP net income of $22.2 million or 4 cents per share compared to 94 cents per share or $159.2 million in the same quarter a year ago. The firm’s total economic net income after taxes was $93.8 million for the quarter. Total distributable earnings were $374.4 million for the quarter.
Apollo Global had $159.9 billion in assets under management as of the end of the quarter, a slight decline from the previous year’s total of $161.2 billion in assets under management.
Disclosure: None
Teva is a great company with almost no competitors, their stock deserves to go much higher again this year.
Market cap is $48.27 bn, with revenues of $20.5 bn (2014). Three upgrades to BUY last year and one downgrade. Stock increased over 24% last year, and should continue to grow in the long run.