Time New York: Mon 18 Dec 02:16 am  |  Save 15% on H&R Block Online

  
caticonslite_bm_alt

Mallinckrodt (MNK) Tops Q2 Earnings, Misses on Sales

Zacks

Ireland-based Mallinckrodt Public Limited Company MNK focuses on developing treatments for autoimmune and rare diseases (including neurology, rheumatology, nephrology and pulmonology) as well as therapies for pain management.

The company develops, manufactures, markets and distributes both branded and specialty generic pharmaceuticals. The company reports in two segments: Specialty Brands, Specialty Generics and Nuclear Imaging. Mallinckrodt is currently focused on reshaping its product portfolio through strategic acquisitions and non-core asset divestitures. The company sold its Nuclear Imaging business owing to persistent macroeconomic challenges and Intrathecal Therapy business to focus on its key areas.

We expect investor focus on the performance of Acthar, Inomax and Ofirmev.

Mallinckrodt PLC Price and EPS Surprise


Mallinckrodt PLC Price and EPS Surprise | Mallinckrodt PLC Quote

Mallinckrodt has an excellent earnings track record with the company delivering positive earnings surprises in each of the last four quarters with a positive average earnings surprise of 5.27%.

Currently, Mallinckrodt has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: Mallinckrodt beat on earnings. Our consensus called for EPS of $1.73, and the company reported EPS of $1.85.

Revenue: Revenues however missed expectations. Mallinckrodt posted revenues of $824.5 million, compared to our consensus estimate of $827.3 million.

Key Stats: The top-line was under pressure due to weakness in the Specialty generics segment. Sales of Therakos were down as well.

Check back later for our full write up on this Mallinckrodt earnings report later!

Looking for Stocks with Skyrocketing Upside?

Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.

Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.

Zacks Investment Research
<-- You can share this post with your network,
or give us your opinion and leave a comment.
Be sure to check our RSS feeds for updates.