AstraZeneca PLC reported a 7% increase in fourth-quarter 2017 core EPS to $1.30, and it set 2018 core guidance at $3.30 to $3.50.
The S&P Capital IQ consensus normalized EPS estimate is 93 cents for the fourth quarter and $2.96 for the 2018 full year.
The U.K.-based drugmaker's fourth-quarter core operating profit fell 12% to $1.79 billion, compared to $2.03 billion in the year-ago period.
Total revenue for the quarter was $5.78 billion, up 3% from the year-ago period. Product sales came in at $5.49 billion, up 4% year over year.
Fourth-quarter growth included gains from adjustments related to improved data insight and methodology in the estimation of payer rebates, product returns and discounts, the company said. It does not anticipate a similar magnitude of adjustments in future periods.
For full year 2018, the company expects a low single-digit percentage increase in product sales at constant exchange rates.
Full-year results
AstraZeneca's full-year 2017 core EPS totaled $4.28, down 1% from the same period in 2016. Core operating profit came in at $6.86 billion, up 2% from the year-ago period.
The S&P Capital IQ consensus normalized EPS estimate for 2017 is $3.91.
Total revenue for 2017 came in at $22.47 billion, down 2% from the year-ago period. Product sales were down 5% year over year to $20.15 billion.
Full-year core EPS included a $617 million net benefit in fourth quarter reported profit after tax due to the U.S. tax reform law, as well as a $321 million benefit to reported and core taxation in the quarter due to reductions in tax provisions.
