Allergan: 1Q Earnings Snapshot
DUBLIN (AP) — Allergan PLC (AGN) on Tuesday reported a loss of $2.41 billion in its first quarter.
The Dublin-based company said it had a loss of $7.25 per share. Earnings, adjusted for one-time gains and costs, were $3.79 per share.
The results topped Wall Street expectations. The average estimate of 19 analysts surveyed by Zacks Investment Research was for earnings of $3.55 per share.
The Botox maker posted revenue of $3.6 billion in the period, also beating Street forecasts. Eighteen analysts surveyed by Zacks expected $3.53 billion.
For the current quarter ending in July, Allergan expects its per-share earnings to range from $4.20 to $4.40. Analysts surveyed by Zacks had forecast adjusted earnings per share of $4.17.
The company said it expects revenue in the range of $3.88 billion to $4.03 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $3.85 billion.
Allergan expects full-year revenue in the range of $15.13 billion to $15.43 billion.
Allergan shares have risen 11% since the beginning of the year, while the Standard & Poor’s 500 index has increased 17%. The stock has dropped 1% in the last 12 months.