|Here's Why Teva Pharmaceutical Industries Ltd (ADR) Is Sinking Like a StoneShares plunge after the company reports dreadful second-quarter results and slashes its dividend payment.Brian Feroldi
Aug 3, 2017 at 2:35PM
What happenedIn response to reporting rough second-quarter results, shares of Teva Pharmaceutical Industries (NYSE:TEVA), a leading provider of generic drugs, dropped 24% as of 1:15 p.m. EDT on Thursday.
So whatHere's a review of the key takeaways from the company's second-quarter results:
The lower-than-hoped for results also caused management to pull back on its guidance for the year. The company now expects adjusted full-year revenue to land between $22.8 billion and $23.2 billion. That's down from its prior outlook of $23.8 billion to $24.5 billion.經營階級預測失準
- Revenue jumped 13% to $5.68 billion, thanks largely to the inclusion of the Actavis Generics business that was acquired from Allergan (NYSE:AGN) last August. On a currency-neutral basis, this figure rose 17% year over year, but it came up shy of the $5.72 billion in revenue that Wall Street had expected.併購沒有綜效
- Teva's U.S. generic business is facing major pricing and volume pressure due to consolidation among its customers and increased competition.
- Specialty revenue dropped 9% during the quarter. While sales of many specialty drugs were weak, sales of multiple-sclerosis treatment Copaxone, the company's top-selling drug, fell 10% to $1.0 billion and were a major source of the overall decline.學名藥競爭激烈
- Adjusted gross margin plunged 570 basis points when compared to the year-ago period.利潤下跌
- A goodwill impairment charge of $6.1 billion was recorded during the quarter because of "market dynamics of the U.S. generics unit." That charge drove a GAAP (generally accepted accounting principles) net loss of $6 billion for the quarter.併購產生嚴重商譽減損
- Adjusted net income fell 20% to $1.0 billion, or $1.02 per share, a figure that also fell short of the $1.06 that market-watchers had predicted.
- An interim dividend of $0.085 per share was declared. This represents a cut of 75% when compared to last year.股息下降
The adjusted figure for earnings per share was taken down a notch, too. The new range is $4.30 to $4.50, which is down from the prior outlook of $4.90 to $5.30.
Given the disappointing quarterly results, slashed dividend, difficult operating conditions, and lowered guidance, it is easy to understand why traders are mauling the company's stock today.
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管理優勢 無 併購無綜效 結論 便宜價可能forever