Concordia International (CXRX) Reports Q2 Loss of $19.78/Sh, Miss on Revenues

Concordia International (NASDAQ: CXRX) reported Q2 EPS of ($19.78),. Revenue for the quarter came in at $160.79 million versus the consensus estimate of $164.61 million.

• Reported second quarter revenue of $160.8 million
• Reported a net loss from operations of $1.01 billion, primarily due to $987.1 million of impairments recorded on goodwill, product rights and other intangible assets
• Reported second quarter adjusted EBITDA of $81.8 million
• Generated cash flow from operations of $155.6 million in the first six months of 2017
• Subsequent to quarter end, Concordia finalized its long-term growth strategy and intends to communicate it by mid September 2017
• Concordia today announces executive leadership changes

The net loss from continuing operations for the three and six month periods ended June 30, 2017 was $1,010.7 million, and $1,089.5 million, respectively, and earnings per share loss was $19.78 and $21.32, respectively. Significant components comprising the net loss for the six month period ended June 30, 2017 are an impairment charge of $987.1 million recorded during the second quarter of 2017, fair value losses on derivative contracts of $48.1 million, interest and accretion expense of $186.8 million and amortization of $124.2 million offset by gross profit of $226.7 million.

For earnings history and earnings-related data on Concordia International (CXRX) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• SanDisk upgraded at JPMorgan after investor day; shares climb
• Movano (MOVE) Misses Q2 EPS by 195c