When Mylan N.V. (NASDAQ: MYL) reported its fourth-quarter financial results after the markets closed on Thursday, the firm said that it had $1.40 in earnings per share (EPS) and $3.19 billion in revenue. That compared with consensus estimates of $1.29 in EPS and $3.23 billion in revenue, as well as the $1.30 in EPS and $3.08 billion posted in the same period of last year.
The increase in net sales included a gain in the North America segment of 3% year over year to $1.13 billion, primarily driven by new product sales, specifically Wixela “Inhub.”
European net sales increased 2% to $1.11 billion, and the Rest of the World segment net sales totaled $927.9 million, or up 9%. Increases were driven primarily by new product sales, partially offset by a decrease in net sales from existing products largely due to the impact of lower pricing across the regions.
Looking ahead to the 2020 full year, the company expects to see revenues in the range of $11.5 billion to $12.5 billion with adjusted EBITDA between $3.2 billion and $3.9 billion. The consensus estimates are calling for $4.54 in EPS and $11.93 billion in revenue for the year.
Heather Bresch, Mylan CEO, commented:
Mylan’s 2019 full year and fourth quarter results demonstrate the durability and strength of the business model we have created as well as our continued long-term commitment to expand access to medicine. Our model continues to be best positioned to withstand the negative trends impacting the industry, and allowed us to deliver on every key metric we set out to achieve in 2019, including total revenue, revenue from new product launches, and both adjusted cash flow and EPS. Our performance is the result of a number of key milestones, including growth across all segments in the fourth quarter and for the year on a constant currency basis.
Mylan stock traded down 3.6% early Friday at $18.01, in a 52-week range of $16.63 to $29.30. The consensus price target is $25.00.
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