Categories AlphaGraphs, Earnings, Health Care

Mylan (MYL) swings to a profit in Q1, reaffirms FY20 outlook

Mylan N.V. (NASDAQ: MYL) reported its financial results for the quarter ended March 31, 2020, on Monday before the market opens. The company reaffirmed its financial guidance for the full-year 2020.

Mylan (MYL) Q1 2020 earnings review

Mylan swung to a profit in the first quarter of 2020 from a loss last year, helped by higher revenue. The top-line rose by 5% driven by a 4% growth in North America and a 14% jump in Europe segment. The results were driven by overall volume growth, which was favorably impacted by increased customer buying patterns and patient prescription trends resulting from the COVID-19 pandemic, primarily in its Europe segment.

Looking ahead, Mylan remains on track to close the pending combination with Pfizer’s Upjohn Business in the second half of the year. The company reaffirmed its 2020 revenue outlook in the range of $11.5-12.5 billion, absorbing about $200 million of foreign exchange headwinds versus its previous expectations, and adjusted EBITDA of $3.2-3.9 billion, absorbing about $50 million of foreign exchange headwinds.

The company anticipates full-year adjusted free cash flow generation to be consistent with 2019 levels despite the COVID-19 pandemic. Mylan continues to target about $1 billion of debt repayment during 2020 and remains fully committed to its investment-grade credit rating.

Take a look at our Healthcare articles here

Most Popular

LMT Earnings: Key numbers from Lockheed Martin Q1 2021 financial results

Lockheed Martin Corp. (NYSE: LMT) today reported its first quarter financial results for the period ended March 28, 2021. Net income for the first quarter was $1.8 billion, or $6.56

Infographic: Philip Morris (PM) Q1 results top expectations

Tobacco giant Philip Morris International (NYSE: PM) on Tuesday reported first-quarter earnings and revenues that beat analysts' forecast. First-quarter earnings, adjusted for special items, rose to $1.57 per share from

Abbott Laboratories (ABT) Earnings: 1Q21 Key Numbers

Abbott Laboratories (NYSE: ABT) reported first quarter 2021 earnings results today. Sales increased 35.3% year-over-year to $10.5 billion. On an organic basis, sales growth was 32.9%. On a GAAP basis,

Add Comment
Viewing Highlight