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Allergan Reports Q2 Earnings Beat, Reaffirms Guidance

Allergan Reports Q2 Earnings Beat, Reaffirms Guidance

Allergan (NYSE: AGN) reported second-quarter earnings of $4.38 per share, which beat the analyst consensus estimate of $4.34 by 0.92%. This is a 0.9% decrease over earnings of $4.42 per share from the same period last year.

The company reported quarterly sales of $4.09 billion, which beat the analyst consensus estimate of $3.93 billion by 4.07%. This is a 0.82% decrease over sales of $4.124 billion the same period last year.

Allergan reaffirmed fiscal year 2019 adjusted EPS guidance of $16.55+ versus a $16.72 estimate and raised sales guidance from $15.1 billion-$15.4 billion to $15.4 billion-$15.6 billion versus a $15.34 billion estimate.

"In the second quarter of 2019, Allergan delivered steady growth in our key products including Botox, Vraylar, Juvederm, Lo Loestrin, and Ozurdex,vwhile we continued to advance our pipeline, highlighted by the FDA's approval of VRAYLAR (Cariprazine) for Bipolar Depression and the NDA acceptance for Bimatoprost SR for Glaucoma," said Brent Saunders, CEO of Allergan.

Allergan shares closed Monday at $160.63. The stock has a 52-week high of $197 and a 52-week low of $114.27.

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