Allergan (AGN, $159.62) beats Q2 expectations

Allergan plc reported second quarter earnings that topped estimates. The company also lifted its  full-year sales guidance.

 The pharmaceutical company reported adjusted earnings of $4.38 per share, surpassing the Street consensus forecast of 4 cents a share. However, the adjusted EPS was just under -1% from the year-ago quarter.

Total revenues declined -0.8% to $4.09 billion, but beat analysts' estimates of $3.93 billion.

CEO Brent Saunders emphasized that Allergan delivered steady growth in key products including Botox, Vraylar and Ozurdex.

Looking ahead, Allergan expects its net non-GAAP revenues of $15.4 billion to $15.6 billion for the full-year 2019, up from $15.1 billion to $15.4 billion. It maintained its forecast of non-GAAP earnings of around $16.55 per share. 

In late June, AbbVie announced that it will pay $188.24 each in cash and shares for Allergan's outstanding common stock, representing a 45% premium to the group's closing price on June 24. The deal would value the group at $63 billion. AbbVie said the deal will add around 10% to the group's adjusted earnings in the first year.

Contributor

Sergey Savastiouk|Expert

Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.