Allergan (AGN) Tops Q1 EPS by 5c; Issues Solid Outlook

Allergan (NYSE: AGN) reported Q1 EPS of $3.35, $0.05 better than the analyst estimate of $3.30. Revenue for the quarter came in at $3.57 billion versus the consensus estimate of $3.54 billion.

"2017 is a pivotal year for Allergan, and we started with a solid, well-executed first quarter. Many of our key brands continued to deliver significant year-over-year growth, led by BOTOX®, our JUVÉDERM® Collection of fillers, our Regenerative Medicine business, LINZESS® and Lo LOESTRIN®. We also saw strong performance from our newer launch products. We recently completed the acquisitions of LifeCell and ZELTIQ®, adding to our leading position in medical aesthetics. We are focused on executing successful integrations of those businesses. And our R&D team continued to advance many of our six "star" R&D programs and deliver FDA approvals, including VOLLURE™ XC and TrueTear™," said Brent Saunders, Chairman and CEO of Allergan. "These solid results and strong execution were delivered by our 18,000 global colleagues who continue to Be Bold. They are powering new ideas and building bridges with our customers to help them better care for their patients. They are acting fast and driving results that will continue to make a profound impact on global health and patient care. I thank them for their continued commitment as we focus on solid execution and delivering results for the remainder of 2017," added Saunders.

GUIDANCE:

Allergan sees FY2017 EPS of $15.85-$16.35, versus the consensus of $16.05. Allergan sees FY2017 revenue of $15.8-16 billion, versus the consensus of $15.72 billion.

For earnings history and earnings-related data on Allergan (AGN) click here.

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