Allergan (AGN) Tops Q1 EPS by 1c

Allergan (NYSE: AGN) reported Q1 EPS of $3.04, $0.01 better than the analyst estimate of $3.03. Revenue for the quarter came in at $3.8 billion versus the consensus estimate of $3.96 billion.

Allergan's full year 2016 continuing operations standalone estimates are based on management's current belief about prescription trends, pricing levels, inventory levels and the anticipated timing of future product launches and events. Continuing operations includes the U.S. Brands, U.S. Medical, International Brands and Anda distribution segments.

• Total Non-GAAP Net Revenues are expected to be ~$17 Billion
  • Non-GAAP Branded Net Revenues are expected to be ~$15 Billion (10% Growth1)
• No material changes to gross margin from current levels in each segment
• Non-GAAP R&D investment is expected to be ~$1.5 Billion
• SG&A as a percent of non-GAAP Net Revenues is expected to be ~25% reflecting plans to restructure and simplify the business following the divestiture of the Global Generics business to Teva
• Non-GAAP tax rate anticipated to return to normalized levels following the close of Teva of ~14%

For earnings history and earnings-related data on Allergan (AGN) click here.

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