Q2 earnings season for large-cap pharmaceutical stocks is set to kick off when Eli Lilly and Co LLY reports results on Thursday morning. Piper Jaffray analyst Richard Purkiss released a report this week outlining what the market can expect once the action begins on Thursday.
Peak Forex Pressure?
Pfizer’s leading international exposure is followed by Merck & Co, Inc. MRK at 58 percent, Lilly at 53 percent and Bristol-Myers Squibb Co BMY at 49 percent. AbbVie Inc ABBV will face the least forex headwinds, with only 47 percent of its business taking place internationally.
Exclusivity Loss
Predictions
- Lilly: Piper Jaffray’s forecast is $0.01 above consensus earnings per share (EPS) and about $45 million above consensus revenue estimates.
- Bristol-Myers: Piper Jaffray is calling for a 6 percent revenue beat and EPS of $0.39, $0.03 above consensus.
- AbbVie: Piper Jaffray is mostly in-line with consensus on AbbVie, calling for EPS of $1.06 (versus consensus of $1.06) and revenue of $5.5 billion (versus consensus of $5.6 billion) for the quarter.
- Merck: Piper Jaffray’s Q2 revenue estimates of $9.7 billion are in-line with consensus, but the firm sees a $0.02 EPS beat on stronger-than-consensus margins.
- Pfizer: Piper Jaffray sees a miss on the horizon for Pfizer and is calling for EPS of $0.50 (versus consensus of $0.51) on revenue of $11.1 billion (versus consensus of $11.4 billion).
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