Mylan N.V. (NASDAQ:MYL) stock was on the move Monday following the release of its earnings report for the third quarter of 2017.
Mylan N.V.’s mixed earnings report for the third quarter of the year is causing its stock to fluctuate today. This includes reporting earnings per share that were down 20% from the same time last year to $1.10. Wall Street was looking for earnings per share of $1.20 for the quarter.
MYL stock also didn’t get its boost today from its revenue of $2.99 billion, which is down 2% from the third quarter of 2016. Analysts were looking for the pharmaceuticals company to report revenue of $3.10 billion for the third quarter of the year.
Heather Bresch, the CEO of Mylan N.V., attributes the decline in its third quarter earnings report to decreasing EpiPen sales. Bresch says this is due to the launch of its own generic version of the drug, as well as from rivals making their own generic versions.
What was a bonus to MYL stock in the third quarter was its updated guidance for the full year of 2017. Mylan N.V. says that it is now expecting earnings per share of the year to range from $4.45 to $4.70. Wall Street is estimating earnings per share of $4.59 for the year.
Mylan N.V. also says that it is expecting revenue for the full year to range from $11.75 billion to $12.50. This gives it a chance of beating out analysts’ revenue estimate of $12.07 billion for the full year of 2017.
MYL stock was up 1% as of Monday morning and is down 5% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
