Mead Johnson (MJN) Misses Q3 EPS by 4c, Guides Lower; Announces $1.5B Buyback Plan

Mead Johnson (NYSE: MJN) reported Q3 EPS of $0.80, $0.04 worse than the analyst estimate of $0.84. Revenue for the quarter came in at $977.5 million versus the consensus estimate of $1.02 billion.

Mead Johnson sees FY2015 EPS of $3.33-$3.43, versus the consensus of $3.59.

“Our most recently completed quarter was more challenging than we had anticipated. However, we are delighted with the continued strength of our North American and European businesses, as well as encouraged by the early feedback on our new initiatives in China. We have adjusted our expectations for full-year 2015 and expect near-term challenges in our emerging market segments to linger into 2016." said Kasper Jakobsen, Chief Executive Officer.

The company announces a new share repurchase program of up to $1.5 billion of the company's common stock.

For earnings history and earnings-related data on Mead Johnson (MJN) click here.

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