Mead Johnson Nutrition Co. (MJN) Reports In-Line Q2 EPS
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Mead Johnson Nutrition Co. (NYSE: MJN) reported Q2 EPS of $0.84, in-line with the analyst estimate of $0.84. Revenue for the quarter came in at $1.06 billion versus the consensus estimate of $1.04 billion.
Mead Johnson Nutrition Co. sees FY2013 EPS of $3.22-$3.30, versus the consensus of $3.24.
“We are encouraged by our revenue growth in the quarter. It allowed us to increase demand-generation investments,” said Chief Executive Officer Peter Kasper Jakobsen. “Our China/Hong Kong business has returned to positive volume growth after three consecutive quarters of decline. We are fully cooperating with the Chinese regulatory authorities in the ongoing probe. We expect to meet with them again in the near future with the objective of reaching a final resolution. We remain confident in our long-term prospects in this important market. Sales growth was strong across South Asia and Latin America, with a majority of markets showing increases in market share. In the North America/Europe segment, we saw higher non-WIC* market share in the U.S. offsetting lower category consumption. Importantly, we made significantly higher investments in demand generation throughout our global operations in order to drive future growth.”
For earnings history and earnings-related data on Mead Johnson Nutrition Co. (MJN) click here.
Mead Johnson Nutrition Co. sees FY2013 EPS of $3.22-$3.30, versus the consensus of $3.24.
“We are encouraged by our revenue growth in the quarter. It allowed us to increase demand-generation investments,” said Chief Executive Officer Peter Kasper Jakobsen. “Our China/Hong Kong business has returned to positive volume growth after three consecutive quarters of decline. We are fully cooperating with the Chinese regulatory authorities in the ongoing probe. We expect to meet with them again in the near future with the objective of reaching a final resolution. We remain confident in our long-term prospects in this important market. Sales growth was strong across South Asia and Latin America, with a majority of markets showing increases in market share. In the North America/Europe segment, we saw higher non-WIC* market share in the U.S. offsetting lower category consumption. Importantly, we made significantly higher investments in demand generation throughout our global operations in order to drive future growth.”
For earnings history and earnings-related data on Mead Johnson Nutrition Co. (MJN) click here.
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