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Teva (TEVA) Q4 Earnings In Line, Sales Beat, Stock Up
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Israel-based Teva Pharmaceutical Industries Ltd. (TEVA - Free Report) is a global pharmaceutical company with a strong presence in the generics as well as branded markets. The company’s branded products include Copaxone (multiple sclerosis - MS), Austedo (chorea associated with Huntington’s disease and tardive dyskinesia), respiratory products like ProAir and Qvar and Ajovy (preventive treatment of migraine).
Teva is facing significant challenges in the form of accelerated generic competition for Copaxone, new competition for branded products, pricing erosion in the U.S. generics business and a massive debt load. However, it has made impressive progress on restructuring activities and has a more stable financial position than before. However, we believe the company has a long way to go before it gains stability.
Teva’s earnings surpassed expectations in two of the last four reported quarters while missing in the other two, with the average negative surprise being 0.45%.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings In-Line: Teva’s fourth-quarter earnings of 62 cents per share came in-line with the consensus estimate.
Revenues Beat: Teva posted revenues of $4.47 billion, which beat the consensus estimate of $4.37 billion. Sales rose 1% (up 2% in constant currency terms) year over year.
Key Statistics: North America segment sales were $2.37 billion, up 6% year over year due to launch of Truxima, its biosimilar version of Roche’s Rituxan and higher sales Qvar and Austedo which offset the impact of generic erosion of Copaxone.
Copaxone posted sales of $264 million in North America, down 26% year over year due to generic erosion. Combined sales of Bendeka and Treanda declined 11% to $125 million. ProAir sales rose 77% to $80 million while Qvar sales were $67 million in the quarter, rising massively year over year. Generic products revenues rose 3% at $1.14 billion in the North America segment. Austedo, a new drug approved to treat chorea associated with Huntington’s disease and tardive dyskinesia, recorded sales of $136 million in the quarter in North America compared with $105 million in the previous quarter. Ajovy, Teva’s new migraine treatment, recorded sales of $25 million in the quarter same as the previous quarter.
The Europe segment recorded revenues of $1.18 billion, down 2% (up 2% in constant currency terms) year over year. In the International Markets segment, sales declined 3% (same in constant currency terms) to $578 million.
2020 Outlook:Teva expects revenues to be in the range of $16.6 - $17.0 billion. The Zacks Consensus Estimate stood at $17.11 billion. Earnings are expected in the band of $2.30-2.55 per share. The Zacks Consensus Estimate stood at $2.50 per share.
Share Price Impact: Shares rise around 4% pre-market trading.
Check back later for our full write up on this TEVA earnings report later!
Teva Pharmaceutical Industries Ltd. Price and Consensus
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Teva (TEVA) Q4 Earnings In Line, Sales Beat, Stock Up
Israel-based Teva Pharmaceutical Industries Ltd. (TEVA - Free Report) is a global pharmaceutical company with a strong presence in the generics as well as branded markets. The company’s branded products include Copaxone (multiple sclerosis - MS), Austedo (chorea associated with Huntington’s disease and tardive dyskinesia), respiratory products like ProAir and Qvar and Ajovy (preventive treatment of migraine).
Teva is facing significant challenges in the form of accelerated generic competition for Copaxone, new competition for branded products, pricing erosion in the U.S. generics business and a massive debt load. However, it has made impressive progress on restructuring activities and has a more stable financial position than before. However, we believe the company has a long way to go before it gains stability.
Teva’s earnings surpassed expectations in two of the last four reported quarters while missing in the other two, with the average negative surprise being 0.45%.
Currently, TEVA has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings In-Line: Teva’s fourth-quarter earnings of 62 cents per share came in-line with the consensus estimate.
Revenues Beat: Teva posted revenues of $4.47 billion, which beat the consensus estimate of $4.37 billion. Sales rose 1% (up 2% in constant currency terms) year over year.
Key Statistics: North America segment sales were $2.37 billion, up 6% year over year due to launch of Truxima, its biosimilar version of Roche’s Rituxan and higher sales Qvar and Austedo which offset the impact of generic erosion of Copaxone.
Copaxone posted sales of $264 million in North America, down 26% year over year due to generic erosion. Combined sales of Bendeka and Treanda declined 11% to $125 million. ProAir sales rose 77% to $80 million while Qvar sales were $67 million in the quarter, rising massively year over year. Generic products revenues rose 3% at $1.14 billion in the North America segment. Austedo, a new drug approved to treat chorea associated with Huntington’s disease and tardive dyskinesia, recorded sales of $136 million in the quarter in North America compared with $105 million in the previous quarter. Ajovy, Teva’s new migraine treatment, recorded sales of $25 million in the quarter same as the previous quarter.
The Europe segment recorded revenues of $1.18 billion, down 2% (up 2% in constant currency terms) year over year. In the International Markets segment, sales declined 3% (same in constant currency terms) to $578 million.
2020 Outlook:Teva expects revenues to be in the range of $16.6 - $17.0 billion. The Zacks Consensus Estimate stood at $17.11 billion. Earnings are expected in the band of $2.30-2.55 per share. The Zacks Consensus Estimate stood at $2.50 per share.
Share Price Impact: Shares rise around 4% pre-market trading.
Check back later for our full write up on this TEVA earnings report later!
Teva Pharmaceutical Industries Ltd. Price and Consensus
Teva Pharmaceutical Industries Ltd. price-consensus-chart | Teva Pharmaceutical Industries Ltd. Quote
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This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
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