Allergan (AGN) Beats Q3 Earnings, Sales In Line, Stock Up

Dublin, Ireland-based Allergan plc (AGN – Free Report) is engaged in the development, manufacturing, marketing, sale and distribution of branded pharmaceuticals device, biologic, surgical and regenerative medicine products.

Allergan has been actively pursuing deals to expand its portfolio especially its branded products offering. Having completed the acquisition of companies like Durata and Forest, Allergan acquired Botox maker, Allergan Inc., in Mar 2015. With this acquisition, Allergan, which was previously known for its strong presence in the generics market, finds itself in the company of the top 10 pharmaceutical companies across the world based on sales.

In 2017 so far, through the accretive acquisitions of LifeCell and ZELTIQ, Allergan has expanded its medical aesthetics business into regenerative medicine and body sculpting, respectively.

Allergan sold its generics and Anda distribution business to Teva in Aug and Oct 2016, respectively.

Allergan’s earnings performance has been mixed so far, with the company beating expectations in three of the past four quarters and missing on one occasion. The average negative earnings surprise over the last four quarters is 0.36%.

Currently, Allergan has a Zacks Rank #4 (Sell), 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 Beat: Allergan’s third-quarter earnings of $4.15 per share were above our consensus estimate of $4.06 per share.

Revenues In Line: Revenues came in at $4.03 billion, up 11.4% from the year-ago period, and in line with the Zacks Consensus Estimate.

2017 Outlook: The company narrowed its previously issued earnings and sales guidance for 2017.

Allergan expects total revenue in the range of $15.875 billion to $16.025 billion compared with $15.85 billion to $16.05 billion previously.

Adjusted earnings per share are expected in the range of $16.15–$16.45 compared with $16.05–$16.45 previously.