Allergan (NYSE:AGN) earnings for the pharmaceutical company’s fourth quarter of 2019 have AGN stock up on Monday. This comes after reporting adjusted earnings per share (EPS) of $5.22. That beats out Wall Street’s estimate of $4.57 for the quarter. Additionally, revenue of $4.35 billion also comes in above analysts’ estimates of $4.09 billion.
Here’s what else is worth noting from the most recent Allergan earnings report.
- Adjusted EPS is up 21.68% from $4.29 during the same time of 2019.
- Revenue for the quarter comes in 6.62% higher than the $4.08 billion from the fourth quarter of the previous year.
- Operating loss of -$276.60 million is 94.86% narrower YoY from -$5.38 billion.
- The Allergan earnings report also includes a net loss of -$317.30 million.
- This is a 92.62% improvement over the company’s net loss of -$4.30 billion from the same period of the year prior.
Brent Saunders , Chairman and CEO of Allergan, says this about the AGN stock earnings.
“I am proud of Allergan’s colleagues who achieved many important milestones in 2019 that will make a difference to patients for years to come. Our colleagues also grew our core business by 7.1 percent in 2019 and by 11.0 percent in the fourth quarter (excluding exchange), creating strong momentum for 2020 and our proposed combination with AbbVie.”
Allergan notes that it is expecting to complete a transaction with AbbVie (NYSE:ABBV) during the first quarter of 2020. This will have it being acquired by the company after it completes its divestiture of brazikumab.
AGN stock was up nearly 2% as of Monday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.