Valeant Soars 14% After Encouraging Q1, Raised Guidance

Shares of Valeant Pharmaceuticals Intl Inc VRX rose about 14 percent early Tuesday morning after the troubled pharmaceutical company reported an encouraging first quarter earnings report and guidance raise.

Valeant reported a first quarter GAAP earnings per share of $1.79, which marks an improvement from the $1.08 per share loss the company reported in the same quarter a year ago. Net income for the quarter totaled $273 million on sales of $2.109 billion.

Here is a rundown of Valeant's sales broken down by unit versus the same period last year.

• Global Vision Care: $170 million versus $172 million last year.
• Global Surgical: $157 million versus $168 million last year.
• Global Consumer: $375 million versus $368 million last year.
• Global Ophtho Rx: $143 million versus $141 million last year.
• International: $305 million versus $297 million last year.
• Bausch + Lomb/International: $1.150 billion versus $1.26 billion last year.

Valeant also provided an update to its full year 2017 outlook. Valeant reaffirmed its full year revenue expectations at a range of $8.9 billion to $9.1 billion, but did revise its adjusted EBITDA outlook from a range of $3.55 billion to $3.7 billion to a new range of $3.6 billion to $3.75 billion.

The stock traded at $11.05, up 13.8 percent at time of publication.

See Also:

Valeant's Asset Sale To L'Oreal Explained

New Valeant = Old Valeant: Wells Fargo