Mylan Q1 Profit Beats Estimates - Quick Facts

(RTTNews) - Mylan N.V. (MYL) reported that its first-quarter GAAP net earnings attributable to shareholders decreased to $56.6 million as compared to $115.9 million for the prior year comparable period. GAAP EPS was $0.13 compared to $0.29 in the prior year comparable period, down 55% as a result of acquisition costs from the acquisition of Abbott's non-U.S. developed markets specialty and branded generics business. Adjusted net earnings attributable to Mylan N.V. was $309.1 million, and adjusted earnings per ordinary share was $0.70, for the quarter.

On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.69 for the quarter. Analysts' estimates typically exclude special items.

Adjusted EBITDA was $504.6 million compared to $459.7 million for the comparable prior year period.

Total revenues were $1.87 billion, up 15% on a constant currency basis from the prior year period. Analysts expected revenue of $2.06 billion for the quarter.

The company said it continues to remain confident in the outlook for the remainder of 2015, and there is no change to full year financial guidance. Mylan also remains committed to its target of at least $6.00 in adjusted EPS in 2018.

Mylan CEO Heather Bresch commented, "During the quarter, Mylan reported positive revenue growth across each of our business segments and regions, with double digit constant currency revenue growth in Europe and Rest of World and high single digit revenue growth in North America and Specialty."