Teva Pharmaceutical Industries Ltd. (TEVA) is scheduled to report fourth-quarter 2018 earnings results on Wednesday, February 13, before market open. Wall Street expects the company to report earnings of $0.54 per share on revenue of $4.5 billion.
Analysts believe the company will continue its winning streak of beating earnings expectations in the fourth quarter. Teva, which offers a wide range of generic products, has been struggling with price erosion in the US generics business, competition to COPAXONE and a large debt load.
Despite these challenges, there appears to be optimism over Teva’s ability to turn things around. Products such as Austedo as well as its migraine therapy, Ajovy, are expected to bring in benefits for Teva. The company mentioned at the JP Morgan Healthcare Conference that it is seeing good uptake for Ajovy in the US and that it expects Austedo to grow strongly this year.
In terms of its restructuring, Teva is on track to achieve cost savings of $3 billion by 2019. These cost-saving efforts will help the company’s earnings. COPAXONE might continue to be a challenge for the company in the near future.
In the third quarter, despite declines, Teva topped revenue and earnings expectations. Revenues dropped 19% mainly due to weakness in COPAXONE, generic pricing pressures and loss of revenue from product divestments. Adjusted EPS fell 32% to $0.68. Revenues declined across all its major segments.
For the full year of 2018, Teva had guided for revenues of $18.6 billion to $19 billion and adjusted EPS of $2.80 to $2.95. Over the past 52 weeks, Teva’s stock has dropped 1.5% while over the past one month, the stock has gained 3.7%. The overall sentiment around Teva’s earnings remains positive.
Autodesk, Inc. (NASDAQ: ADSK) today reported its fourth quarter financial results for the period ended January 31, 2021. Net income for the fourth quarter was $911.3 million, or $4.10 per
Beyond Meat (NASDAQ: BYND), a specialist in plant-based meat substitutes, Thursday reported a wider loss for the fourth quarter, despite an increase in revenues. The numbers also missed the consensus
Virgin Galactic (NYSE: SPCE) reported fourth-quarter 2020 financial results after the regular market hours on Thursday. The space tourism company reported zero revenue in the fourth quarter, compared to $529,000