Health and Healthcare
How Guidance Sank Endo International
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Endo International PLC (NASDAQ: ENDP) reported its first-quarter financial results after the markets closed on Thursday. The company posted $1.08 in earnings per share (EPS) on $963.5 million in revenue. Thomson Reuters consensus estimates had called for EPS of $1.05 on $964.4 million in revenue. In the same period of last year, it reported $1.17 in EPS and revenue of $714.1 million.
In terms of guidance for the full year, the company expects to have EPS in the range of $4.50 to $4.80 and revenues in the range of $3.87 billion to $4.03 billion. The consensus estimates are $5.69 in EPS on $4.30 billion in revenue.
Separately, Endo announced the appointment of two new members to its board of directors: Douglas S. Ingram, former president of Allergan and current CEO of Chase Pharmaceuticals, and Todd B. Sisitsky, managing partner of TPG Capital.
For the first quarter, Endo’s U.S. Generic Pharmaceutical segment revenues totaled $583 million, up 63% from the same period last year. This was the result of the additional sales from the Par acquisition and the underlying growth of certain products. International Pharmaceuticals had revenues of $71 million, down 2% from last year, but it would be up 11% excluding a $10 million unfavorable currency impact.
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