Mead Johnson (MJN) Tops Q3 EPS by 2c; Reaffirms Outlook

Mead Johnson (NYSE: MJN) reported Q3 EPS of $0.93, $0.02 better than the analyst estimate of $0.91. Revenue for the quarter came in at $1.09 billion versus the consensus estimate of $1.08 billion.

Mead Johnson reaffirms FY2014 EPS of $3.65-$3.72, versus the consensus of $3.72.

"We are pleased to deliver solid sales growth and strong earnings in light of a challenging foreign exchange environment and higher dairy input costs," said Chief Executive Officer Kasper Jakobsen. "We again saw strong growth in our North America/Europe segment from our toddler business and infant formula market share gains. In Asia, we worked to reduce system inventory in China ahead of the Enfamil re-launch planned for the fourth quarter. This negatively impacted sales for the quarter in the Asia segment. Overall, we are satisfied with the progress made in the latest quarter."

For earnings history and earnings-related data on Mead Johnson (MJN) click here.

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