Teva Pharma (TEVA) Prelim. Q2 Revenue, EPS Outpace Views
Teva Pharma (NYSE: TEVA) announced preliminary financial results for the second quarter of 2015:
- Revenues of approximately $4.97 billion, down 2% compared to the second quarter of 2014. Excluding the impact of foreign exchange fluctuations and the sale of U.S. OTC plants in July 2014, revenues increased 6% compared to the second quarter of 2014.
- Non-GAAP diluted earnings per share (EPS) of $1.43 in the second quarter of 2015, up 15% compared to the second quarter of 2014.
- Non-GAAP operating income of $1.6 billion, an increase of 16% compared to the second quarter of 2014.
- Cash flow from operations of $1.5 billion, an increase of 41% compared to the second quarter of 2014.
- Free cash flow of $1.3 billion, up 51% compared to the second quarter of 2014.
*** The Street was looking for Q2 revenue of $4.9 billion and EPS of $1.31.
Erez Vigodman, President and CEO of Teva, said, “Our preliminary results for the second quarter further demonstrate Teva’s continuous momentum and significantly strengthened fundamentals, improved generics and specialty businesses and ability to drive organic growth. We are confident that our key franchises, along with our transformational acquisition of Allergan Generics, will enable Teva to reinforce our already strong position and continue to generate stockholder value.”
Full Year 2015 EPS Guidance
Teva is raising its EPS guidance for the full year 2015, reflecting the positive momentum across the business. For the full year 2015, the Company now expects EPS to be in the range of $5.15 to $5.40, as compared to the previously provided EPS range of $5.05 to $5.35.
Teva Second Quarter 2015 Earnings Conference Call
Teva will report full second quarter 2015 financial results on Thursday, July 30, 2015. The Company will discuss its results on its quarterly earnings conference call and live webcast on the same day, at 8:00 a.m. ET.
In order to participate, please dial the following numbers (at least 10 minutes before the scheduled start time): United States 1-866-966-9439; Canada 1-866-966-0399 International +44(0) 1452 555566; passcode: 76780072. For a list of other international toll-free numbers, click here.
A live webcast of the call will also be available on Teva's website at: www.tevapharm.com. Please log in at least 10 minutes prior to the conference call in order to download the applicable audio software.
Following the conclusion of the call, a replay of the webcast will be available within 24 hours on the Company's website. The replay can also be accessed until August 30, 2015, 10:00 a.m. ET by calling United States 1-866-247-4222; Canada 1-866-878-9237 or International +44(0) 1452550000; passcode: 76780072.