Mead Johnson (MJN) Misses Q3 EPS by 4c, Guides Lower; Announces $1.5B Buyback Plan
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Mead Johnson Nutrition Reports Third Quarter and Nine-Month 2015 Earnings; Updates 2015 Guidance; and Announces $1.5 Billion Share Repurchase Plan
October 22, 2015 7:30 AM EDTGLENVIEW, Ill.--(BUSINESS WIRE)-- Mead Johnson Nutrition Company (NYSE: MJN) today announced its financial results for the quarter and nine months ended September 30, 2015.
Third quarter constant dollar(1) sales were 4% below the prior year quarter. Continued strength in North America/Europe only partially offset the impact of weaker performance in emerging markets. Results were further impacted by adverse foreign currency translation and reported sales were 10% below the prior year quarter. Sales for the nine months ended September 30, 2015 were 1% below the prior year on a constant... More