Teva Pharmaceuticals (NYSE:TEVA) earnings for the pharmaceutical company’s fourth quarter of 2019 have TEVA stock taking off on Wednesday. This is due to its adjusted earnings per share (EPS) of 62 cents beating out Wall Street’s estimate of 61 cents. Revenue of $4.47 billion also comes in above analysts’ estimates of $4.35 billion.
Here are some additional highlights from the most recent Teva Pharmaceuticals earnings report.
- Adjusted per-share earnings are up 16.98% from 53 cents in the fourth quarter of 2018.
- Revenue for the quarter is sitting 1.13% higher than the $4.42 billion from the same period of the year prior.
- Operating income of $148 million is a switch from an operating loss of $3.16 billion in Q4 2018.
- The Teva Pharmaceuticals earnings report also includes a net income of $75 million.
- That’s much better than its net loss of $3.24 billion from the same time last year.
Kåre Schultz, President and CEO of Teva Pharmaceuticals, said this about the TEVA stock earnings:
“In 2019, we made great strides towards positioning Teva for renewed growth by completing our two-year restructuring plan, reducing our cost base by more than $3 billion, and reducing our net debt by more than $9 billion, all while maintaining our global leadership in generics, serving around 200 million patients every day.”
The Teva Pharmaceuticals earnings report also includes its 2020 outlook. This has it expecting adjusted EPS of $2.30 to $2.55 on revenue of $16.6 billion to $17 billion. For comparison, Wall Street is looking for EPS of $2.47 on revenue of $17.18 billion in 2020.
TEVA stock is currently up more than 9% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.