Shire PLC Earnings: Here’s Why Investors Don’t Like These Results
Shire PLC (NASDAQ:SHPG) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 3.26%.
Shire PLC Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.35 in the quarter versus EPS of $ in the year-earlier quarter.
Revenue: Decreased 0.84% to $1.16 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.35 per share. By that measure, the company beat the mean analyst estimate of $0. It beat the average revenue estimate of $0.
Quoting Management: Flemming Ornskov, M.D., Chief Executive Officer, commented:
“In Q1 2013 we experienced continued strong performance from VYVANSE, INTUNIV, LIALDA, VPRIV and FIRAZYR offset by the challenge of lower sales of DERMAGRAFT and REPLAGAL which we are actively managing. We generated $257 million of cash during the quarter and delivered 10% Non GAAP earnings growth while investing in our R&D pipeline.”
Key Stats (on next page)…