Mylan (MYL) Tops Q1 EPS by 3c, Reaffirms FY Guidance

Mylan (NASDAQ: MYL) reported Q1 EPS of $0.82, $0.03 better than the analyst estimate of $0.79. Revenue for the quarter came in at $2.5 billion versus the consensus estimate of $2.7 billion.

GUIDANCE:

Mylan sees FY2019 EPS of $3.80-$4.80, versus the consensus of $4.40. Mylan sees FY2019 revenue of $11.5-12.5 billion, versus the consensus of $11.96 billion.

Mylan CFO Ken Parks added: "During the first quarter, adjusted free cash flow of $27 million was slightly ahead of our expectations. Our results reflect an anticipated increase in net working capital required to support our topline growth expectations for 2019, which includes over $1 billion in new product launches, as previously communicated. Given our stable and durable cash flow profile, we remain committed to deleveraging and intend to repay $1.1 billion of debt during 2019. We also remain fully committed to maintaining our investment grade credit rating. For the full year 2019, we are reaffirming our guidance and business outlook, including our total revenue range of $11.5 billion to $12.5 billion, adjusted EPS guidance range of $3.80 to $4.80 and adjusted free cash flow range of $1.9 billion to $2.3 billion."

For earnings history and earnings-related data on Mylan (MYL) click here.

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