Mallinckrodt (MNK) Tops Q1 EPS by 23c

Mallinckrodt (NYSE: MNK) reported Q1 EPS of $2.00, $0.23 better than the analyst estimate of $1.77. Revenue for the quarter came in at $915 million versus the consensus estimate of $888.33 million.

Exceptional Specialty Brands segment performance, up 45.4%, was the primary growth contributor driven by solid organic growth in H.P. Acthar Gel (repository corticosteroid injection) and the inclusion of INOMAX (nitric oxide) for inhalation and Therakos® immunotherapy. Specialty Brands results were offset by decreased net sales within the Specialty Generics segment. The impact of foreign currency also lowered reported net sales by $9.2 million.

GUIDANCE:

Mallinckrodt sees FY2016 EPS of $7.70 - $8.20, versus prior guidance of $7.85 - $8.30 and the consensus of $7.84.

For earnings history and earnings-related data on Mallinckrodt (MNK) click here.

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