Teva Pharma (TEVA) Tops Q1 EPS by 17c, Revenues Beat; Offers FY20 EPS/Revenue Guidance

Teva Pharma (NYSE: TEVA) reported Q1 EPS of $0.76, $0.17 better than the analyst estimate of $0.59. Revenue for the quarter came in at $4.4 billion versus the consensus estimate of $4.15 billion.

• Revenues of $4.4 billion
• GAAP diluted EPS of $0.06
• Non-GAAP diluted EPS of $0.76
• Free cash flow of $551 million

Mr. Kåre Schultz, Teva's President and CEO, said, “2020 brought an unprecedented global health crisis, affecting all nations and industries, including the pharmaceutical industry, which plays many roles in countering the epidemic. As our industry responds to the challenge, we are reminded of the importance of reliable supplies of high quality generic medicines to meet critical demand. Teva has responded to this challenge by supporting efforts of governments and health services to curb the impact of the virus. We have done this while taking robust measures to safeguard the health and well-being of our employees, who have diligently worked to ensure that all our manufacturing and distribution facilities remain open to allow the safe supply of medicines and APIs to our customers, and to millions of patients around the world."

Mr. Schultz continued, "Our very strong results during the first quarter of 2020 were impacted by greater demand in our major markets for generic and OTC products and respiratory products. Stronger revenues across these categories, along with growth in our operating and net profit, contributed to strong free cash flow and a further reduction in our net debt to $24.3 billion."

"Looking ahead, in light of the challenges and uncertainties facing our industry and society at large, we will continue to take measures to safeguard our dedicated employees, securing continued operation of our supply chain and deliveries of our broad portfolio to the 200 million patients we serve."

GUIDANCE:

Teva Pharma sees FY2020 EPS of $2.30-$2.55, versus the consensus of $2.44. Teva Pharma sees FY2020 revenue of $16.6-17 billion, versus the consensus of $16.7 billion.

Full year 2020 business outlook reaffirmed:

• Net revenues of $16.6 - $17 billion
• EBITDA of $4.5 - $4.9 billion
• EPS of $2.30 - $2.55
• Free cash flow of $1.8 - $2.2 billion

For earnings history and earnings-related data on Teva Pharma (TEVA) click here.

You May Also Be Interested In

• Biogen (BIIB) tops earnings expectations but revenue falls short
• Blue Foundry Bancorp (BLFY) Tops Q1 EPS by 9c
• AT&T (T) beats earnings estimates in Q1 but revenue falls short, shares climb