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Mylan Q4 Beats on Sales, Misses on EPS

By Eric Volkman - Feb 27, 2020 at 8:42PM

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A 2014 deal the company made continued to pay off, while sales overseas were relatively strong.

Mylan (MYL) was down by almost 4% in after-market trading on Thursday, following the release of its Q4 of fiscal 2019 results in late afternoon. 

The pharmaceutical giant managed to raise its total revenue by 4% on a year-over-year basis during the quarter, to $3.19 billion. On the bottom line, non-GAAP (adjusted) net profit was nearly 8% higher at $721 million ($1.40 per share).

Pharmacist discussing a medication with a patient.

Image source: Getty Images.

On average, prognosticators tracking the stock expected $3.23 billion in revenue and an adjusted per-share net profit of $1.30.

Mylan benefited from relatively robust sales in its "rest of world" regional classification, which covers all markets that are not North America and Europe. Rest of world saw an 8% uptick in sales; the company said new products in markets such as Australia and India helped in this regard.

In terms of products, Mylan singled out drugs such as pancreatic enzyme replacement treatment Creon and flu vaccine Influvac as being brisk sellers worldwide. Both of those medications landed in the company's portfolio from its 2014 deal with Abbott Laboratories.

Zooming out to the full year, overall revenue was $11.5 billion, representing a marginal improvement over the 2018 figure. Adjusted net profit slipped to $2.28 billion from the previous year's $2.36 billion.

Mylan provided guidance for fiscal 2020. The company believes it will book total revenue of $11.5 billion to $12.5 billion. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) should come in at $3.2 billion to $3.9 billion against the latest result of $3.54 billion. The company didn't supply any projections for net profit.


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