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Mylan Q2 profit falls YOY; 2018 guidance lowered

Mylan N.V. said its adjusted net earnings for the second quarter amounted to $1.07 per share, compared with the S&P Global Market Intelligence normalized EPS consensus estimate of $1.22.

EPS fell year over year from $1.10.

Adjusted net earnings totaled $551.5 million, a decrease of 6.5% from $589.9 million in the year-earlier period.

Total revenues fell 5.2% year over year to $2.81 billion from $2.96 billion.

GAAP net earnings decreased 87.4% from the prior-year period to $37.5 million, or 7 cents per share, from $297.0 million, or 55 cents per share.

Moving ahead, the company now forecasts adjusted EPS in the range of $4.55 to $4.90 for the full year, down from previous guidance in the range of $5.20 to $5.60.

The S&P Global Market Intelligence normalized EPS consensus estimate for 2018 is $5.25.

The Canonsburg, Pa.-based company now expects full-year total revenues in the range of $11.25 billion to $12.25 billion, also lowered from the previous range of $11.75 billion to $13.25 billion.