Mylan (NASDAQ:MYL) earnings for first quarter of 2020 have MYL stock falling on Monday. That comes after reporting diluted earnings per share (EPS) of 4 cents on revenue of $2.59 billion. These both come in below Wall Street’s estimates of 86 cents per share and revenue of $2.65 billion.
Here’s what else is worth mentioning from the most recent Mylan earnings report.
- Diluted per-share earnings are better than the loss of 5 cents reported during the same time last year.
- Revenue for the quarter comes in 5% higher than the $2.46 billion from the first quarter of 2019.
- Operating income of $184.7 million is a 669.6% increase year-over-year from $24 million.
- The Mylan earnings report also includes a net income of $20.8 million.
- That’s a major improvement over its net loss of $25 million from the same period of the year prior.
Rajiv Malik, president of Mylan, said this in the Q1 earnings report:
“As a result of the Mylan team’s efforts, our broad and diverse manufacturing footprint of more than 40 manufacturing facilities, which is spread across 12 countries, has maintained supply continuity. The strategic locations of our plants have enabled Mylan to avoid disruptions due to logistical challenges in any one part of the world.”
Mylan also reaffirms its outlook for 2020 in the current earnings report. This has it expecting revenue to range from $11.5 billion to $12.5 billion. For comparison, Wall Street is expecting revenue of $11.74 billion during the year.
MYL stock was down 3.5% as of Monday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.