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Mallinckrodt: 2Q Earnings Snapshot

August 6, 2019

SURREY, Britain (AP) _ Mallinckrodt PLC (MNK) on Tuesday reported second-quarter net income of $6.8 million.

On a per-share basis, the Surrey, Britain-based company said it had profit of 8 cents. Earnings, adjusted for one-time gains and costs, were $2.53 per share.

The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.10 per share.

The specialty pharmaceutical company posted revenue of $823.3 million in the period, missing Street forecasts. Seven analysts surveyed by Zacks expected $823.7 million.

Mallinckrodt expects full-year earnings in the range of $8.40 to $8.70 per share.

Mallinckrodt shares have fallen 59% since the beginning of the year. The stock has declined 73% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MNK at https://www.zacks.com/ap/MNK

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