Teva Pharma (TEVA) Misses Q2 EPS by 4c, Lowers FY EPS Guidance, Cuts Dividend

(Updated - August 3, 2017 6:40 AM EDT)

Teva Pharma (NYSE: TEVA) reported Q2 EPS of $1.02, $0.04 worse than the analyst estimate of $1.06. Revenue for the quarter came in at $5.7 billion versus the consensus estimate of $5.76 billion.

GUIDANCE:

Teva Pharma sees Q3 2017 EPS of $4.30-$4.50, versus the consensus of $4.74.

• We have lowered our outlook for 2017 Non-GAAP results to revenues of $22.8 – $23.2 billion, from a previously expected range of $23.8 – $24.5 billion.

This adjusted outlook takes into consideration the impact of increased price erosion in our U.S. Generics business, which is expected to be in a high single digits rate through the remainder of the year, and delays in generic launches in the U.S. Lastly, this outlook reflects the continued deterioration of political and economic conditions in Venezuela.

The revised guidance ranges assume no generic competition to Copaxone® 40mg in the United Stated in 2017.

Teva Pharma (NYSE: TEVA) declared a quarterly dividend of $0.085 per share, or $0.34 annualized. This is a 75% decrease from the prior dividend of $0.34.

For earnings history and earnings-related data on Teva Pharma (TEVA) click here.

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