Mallinckrodt (MNK) Tops Q3 EPS by 10c

Mallinckrodt (NYSE: MNK) reported Q3 EPS of $2.07, $0.10 better than the analyst estimate of $1.97. Revenue for the quarter came in at $743.7 million versus the consensus estimate of $772.2 million.

"We continue to be very pleased with the underlying financial strength and cash flow generation capability of our business, resulting in the third consecutive increase to our EPS guidance this year," said Mark Trudeau, President and Chief Executive Officer of Mallinckrodt. "In addition, we are particularly pleased with the ongoing progress of our research and development activities, including successful Phase 3 study results for StrataGraft and terlipressin, data generation for Acthar in rheumatoid arthritis and multiple sclerosis, and our collaboration with Silence Therapeutics in RNAi technology."

Trudeau continued, "We remain focused on strengthening our balance sheet through debt reduction and we also are working to resolve near term uncertainties in our business, particularly opioid litigation and the separation of our Specialty Generics segment."

For earnings history and earnings-related data on Mallinckrodt (MNK) click here.

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