Categories Earnings, Other Industries
Valeant Pharmaceuticals International Inc. Q4 2017 earnings snapshot
Canada’s Valeant Pharmaceuticals posted a 9.9% decline in its fourth quarter 2017 revenue, driven by the impact of divestitures and lower volumes in the U.S. Diversified Products segment. Revenue declined to $2.16 billion from $2.4 billion in the second quarter of 2016.
The company swung to profit in the quarter compared to a loss a year ago, helped by increase in the benefit from income taxes. Net income attributable to Valeant was $513 million compared to a loss of $515 million in the same period in 2016.
Outlook
For the full year 2018, Valeant Pharmaceuticals expects revenues in the range of $8.10 billion to $8.30 billion, while full year adjusted EBITDA is expected in the range of $3.05 billion to $3.20 billion. Valeant will continue to address its debt, as well as reduce expenses as it has been doing since first quarter of 2016, said the CEO Joseph Papa.
Most Popular
United Parcel Service (UPS) seems on track to regain lost strength
Cargo giant United Parcel Service, Inc. (NYSE: UPS) ended fiscal 2023 on a weak note, reporting lower revenues and profit for the fourth quarter. The company experienced a slowdown post-pandemic
IPO Alert: What to look for when Boundless Bio goes public
Boundless Bio is preparing to debut on the Nasdaq stock market this week, and become the latest addition to the list of biotech firms that have launched IPOs this year.
Nike (NKE) bets on innovation and partnerships to return to high growth
Sneaker giant Nike, Inc. (NYSE: NKE) has been going through a rough patch for some time, with sales coming under pressure from weak demand and rising competition. Post-pandemic, the company