Traders Cheer Allergan's (AGN) Q2 Results as Profit Surges 36%
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Allergan Inc. (NYSE: AGN) posted better-than-expected results in the second-quarter as income grew 36 percent on higher sales of the company’s wrinkle treatment and products for eye care.
The Botox and breast implant maker reported a quarterly profit of $240.1 million or 78 cents per share, up from $176.1 million or 58 cents per share in the same quarter last year. Excluding one-time items, Allergan earned 85 cents per share in the quarter, 4 cents better than analyst estimate of 81 cents per share.
Revenue for the company rose 10.5 percent to $1.25 billion in the three month period ended June 30. The company reported $1.13 billion in sales last year. Sales for the Allergan’s eye care products rose 9.8 percent to $577.8 million, while its sales of Botox rose 7 percent to $360.5 million.
“During the second quarter, Allergan continued to deliver strong operating results in both our pharmaceutical and medical device businesses as we benefited from a continuing recovery in our cash-pay aesthetics businesses around the world,” said David E.I. Pyott, Allergan’s Chairman of the Board and Chief Executive Officer. “In addition, we continued to expand our geographic presence in the rapidly growing emerging markets through the initiation of direct operations, beginning in early July, in both Turkey and Poland.”
Looking ahead, the company sees earnings for the full year in the range of $3.11 to $3.15 per share on sales of $4.62 billion to $4.75 billion. The Street is currently looking for EPS and sales of $3.16 and $4.77 billion, respectively.
Shares of Allergan are up 5.4 percent to $64.36 today.
The Botox and breast implant maker reported a quarterly profit of $240.1 million or 78 cents per share, up from $176.1 million or 58 cents per share in the same quarter last year. Excluding one-time items, Allergan earned 85 cents per share in the quarter, 4 cents better than analyst estimate of 81 cents per share.
Revenue for the company rose 10.5 percent to $1.25 billion in the three month period ended June 30. The company reported $1.13 billion in sales last year. Sales for the Allergan’s eye care products rose 9.8 percent to $577.8 million, while its sales of Botox rose 7 percent to $360.5 million.
“During the second quarter, Allergan continued to deliver strong operating results in both our pharmaceutical and medical device businesses as we benefited from a continuing recovery in our cash-pay aesthetics businesses around the world,” said David E.I. Pyott, Allergan’s Chairman of the Board and Chief Executive Officer. “In addition, we continued to expand our geographic presence in the rapidly growing emerging markets through the initiation of direct operations, beginning in early July, in both Turkey and Poland.”
Looking ahead, the company sees earnings for the full year in the range of $3.11 to $3.15 per share on sales of $4.62 billion to $4.75 billion. The Street is currently looking for EPS and sales of $3.16 and $4.77 billion, respectively.
Shares of Allergan are up 5.4 percent to $64.36 today.
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