Mallinckrodt plc Reports Earnings for the Second Quarter 2020 and Highlights Pipeline Advancements
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Mallinckrodt plc (MNK) PT Lowered to $2 at BMO Capital
August 4, 2020 12:50 PM EDTBMO Capital analyst Gary Nachman lowered the price target on Mallinckrodt plc (NYSE: MNK) to $2.00 (from $4.00) while maintaining a Market Perform rating.
The analyst commented, "2Q results overall were better than previously lowered expectations given COVID-19 and other pressures, but focus... More
Mallinckrodt (MNK) Warns of Chapter 11 Filing
August 4, 2020 6:25 AM EDTWith earnings, Mallinckrodt (NYSE: MNK) said it continues to work to resolve outstanding issues related to opioids, Acthar Gel, and other risks, as well as address overall debt levels, and is considering with its external advisors all options to address legal and financial... More
Mallinckrodt (MNK) Tops Q2 EPS by 54c, Revenues Beat
August 4, 2020 6:09 AM EDTMallinckrodt (NYSE: MNK) reported Q2 EPS of $1.89, $0.54 better than the analyst estimate of $1.35. Revenue for the quarter came in at $700.9 million versus the consensus estimate of $635.33 million.
Second quarter net sales of $166.5 million net of the retrospective one-time Acthar® Gel Medicaid liability; adjusted net sales of $700.9 million, a decline of 14.9%, due primarily to demand impacts related to COVID-19 and competitive and payer pressures on certain productsDiluted loss per share of $11.04 with adjusted diluted earnings per share (EPS) of $1.89, a decline of 25.3%Operating cash flows of $170.9 million in the... More