Mead Johnson (MJN) Tops Q2 EPS by 10c, Sales Miss; Reaffirms EPS Outlook
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Mead Johnson Nutrition Reports Second Quarter and First Half 2016 Results; Reaffirms 2016 EPS Guidance; Announces an Expansion of Cost Productivity Program
July 28, 2016 7:30 AM EDTGLENVIEW, Ill.--(BUSINESS WIRE)-- Mead Johnson Nutrition Company (NYSE: MJN) today announced its financial results for the quarter and six months ended June 30, 2016.
Highlights are as follows:
Gross sales were 5% below the prior year quarter on a reported basis and flat on a constant dollar(1) basis. Net sales were 9% below the prior year quarter on a reported basis and 4% below on a constant dollar basis. Adverse foreign currency, new product testing standards for imported goods in China, and an increase in trade investments in China all reduced net sales in the... More