When Mylan N.V. (NASDAQ: MYL) reported its most recent quarterly results after the markets closed on Monday, the company said that it had $1.25 in earnings per share (EPS) and $2.86 billion in revenue. The consensus estimates had called for $1.17 in EPS and $2.87 billion in revenue. In the third quarter of last year, it said it had EPS of $1.10 on revenue of $2.99 billion.
During the most recent quarter, the decrease in total revenues included lower net sales in the North America segment of 14%. This decrease was partially offset by increased net sales in the Rest of World segment of 4%. Net sales in the Europe segment were essentially flat. The overall decrease in total revenues was primarily driven by a decrease in net sales from existing products.
In terms of its segments, Mylan reported as follows:
- Net sales in the North America segment totaled $1.01 billion in the current quarter, a decrease of $159.9 million or 14% when compared to the prior year period.
- Net sales in the Europe segment totaled $1.04 billion in the current quarter, an increase of $0.5 million, when compared to the prior year period.
- Net sales in the Rest of World segment totaled $773.7 million in the current quarter, an increase of $30.4 million, or 4% when compared to the prior year period.
Looking ahead to the fourth quarter, consensus estimates call for $1.42 in EPS and $3.14 billion in revenue.
Heather Bresch, Mylan’s CEO, commented:
Mylan’s third quarter performance was in line with our expectations and we delivered solid year-over-year growth. Our confidence in the company’s bright future extends well beyond any single factor or particular quarter, including the current, short-term macro market turbulence our industry is experiencing. Year-to-date, we have launched nearly 475 new products across our segments, including a record number of complex generics and biosimilars for Mylan. These medicines represent many different therapeutic categories, channels and dosage forms.
Shares of Mylan closed Monday at $31.37, with a consensus analyst price target of $44.75. The stock has a 52-week trading range of $30.33 to $47.82. Following the announcement, the stock was up over 8% at $34.05 in early trading indications Tuesday.
Take Charge of Your Retirement: Find the Right Financial Advisor For You in Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding professional guidance—and we’ve made it easier than ever for you to connect with the right financial advisor for your unique needs.
Here’s how it works:
1️ Answer a Few Simple Questions
Tell us a bit about your goals and preferences—it only takes a few minutes!
2️ Get Your Top Advisor Matches
This tool matches you with qualified advisors who specialize in helping people like you achieve financial success.
3️ Choose Your Best Fit
Review their profiles, schedule an introductory meeting, and select the advisor who feels right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.