Dublin, Ireland-based Allergan plc is engaged in the development, manufacturing, marketing, sale and distribution of branded pharmaceuticals, device, biologic, surgical and regenerative medicine products.
Allergan has been actively pursuing deals to expand its portfolio especially its branded products offering. Having completed the acquisition of companies like Durata and Forest, Allergan acquired Botox maker, Allergan Inc., in Mar 2015. With this acquisition, Allergan, which was previously known for its strong presence in the generics market, finds itself in the company of the top 10 pharmaceutical companies across the world based on sales.
In 2017, through the accretive acquisitions of LifeCell and ZELTIQ, Allergan has expanded its medical aesthetics business into regenerative medicine and body sculpting, respectively.
Allergan sold its generics and Anda distribution business to Teva in Aug and Oct 2016, respectively.
Allergan’s earnings performance has been strong, with the company beating expectations in each of the past four quarters. The average positive earnings surprise over the last four quarters is 4.41%. Estimates have move up in the past 30 days.
Currently, Allergan has a Zacks Rank #`2 (Buy), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Beat: Allergan’s second-quarter earnings of $4.42 per share were above our consensus estimate of $4.13 per share.
Revenues Beat: Revenues came in at $4.12 billion which beat the Zacks Consensus Estimate of $3.92 billion. Revenues rose 2.9% from the year-ago period.
Key Stats: Botox (cosmetic) raked in sales of $236.5 million, up 12.5% year over year. Botox Therapeutic revenues were $404.7 million, up 16.7%. Sales of Allergan’s blockbuster eye drug Restasis declined 5.4% to $318.2 million in the quarter.
Ups 2018 Outlook: Allergan raised its earnings and sales guidance range for 2018. Allergan lifted its sales guidance to an approximate range of $15.45-$15.60 billion compared with the earlier forecast of $15.15-$15.35 billion.
Meanwhile, the company also raised its adjusted earnings expectation in the band of $16.00-$16.50 per share from $15.65-$16.25 guided earlier.
The company also raised its guidance range for adjusted tax rate, SG&A and R&D costs.
Share Price Impact: Shares were up more than 2% in pre-market trading.
Check back later for our full write up on this AGN earnings report later!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
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Allergan (AGN) Beats on Q2 Earnings and Sales, Stock Up
Dublin, Ireland-based Allergan plc is engaged in the development, manufacturing, marketing, sale and distribution of branded pharmaceuticals, device, biologic, surgical and regenerative medicine products.
Allergan has been actively pursuing deals to expand its portfolio especially its branded products offering. Having completed the acquisition of companies like Durata and Forest, Allergan acquired Botox maker, Allergan Inc., in Mar 2015. With this acquisition, Allergan, which was previously known for its strong presence in the generics market, finds itself in the company of the top 10 pharmaceutical companies across the world based on sales.
In 2017, through the accretive acquisitions of LifeCell and ZELTIQ, Allergan has expanded its medical aesthetics business into regenerative medicine and body sculpting, respectively.
Allergan sold its generics and Anda distribution business to Teva in Aug and Oct 2016, respectively.
Allergan’s earnings performance has been strong, with the company beating expectations in each of the past four quarters. The average positive earnings surprise over the last four quarters is 4.41%. Estimates have move up in the past 30 days.
Currently, Allergan has a Zacks Rank #`2 (Buy), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Beat: Allergan’s second-quarter earnings of $4.42 per share were above our consensus estimate of $4.13 per share.
Revenues Beat: Revenues came in at $4.12 billion which beat the Zacks Consensus Estimate of $3.92 billion. Revenues rose 2.9% from the year-ago period.
Key Stats: Botox (cosmetic) raked in sales of $236.5 million, up 12.5% year over year. Botox Therapeutic revenues were $404.7 million, up 16.7%. Sales of Allergan’s blockbuster eye drug Restasis declined 5.4% to $318.2 million in the quarter.
Ups 2018 Outlook: Allergan raised its earnings and sales guidance range for 2018. Allergan lifted its sales guidance to an approximate range of $15.45-$15.60 billion compared with the earlier forecast of $15.15-$15.35 billion.
Meanwhile, the company also raised its adjusted earnings expectation in the band of $16.00-$16.50 per share from $15.65-$16.25 guided earlier.
The company also raised its guidance range for adjusted tax rate, SG&A and R&D costs.
Share Price Impact: Shares were up more than 2% in pre-market trading.
Check back later for our full write up on this AGN earnings report later!
Allergan plc Price and Consensus
Allergan plc Price and Consensus | Allergan plc Quote
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>