Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) reported preliminary second quarter results this morning. Second quarter revenue was $4.97 billion, down 2% compared with the corresponding quarter of 2014, although above the Wall Street analysts forecast. Excluding the impact of foreign exchange fluctuations and the sale of US OTC plants in July 2014, revenues increased 6% compared with the second quarter of 2014.
Non-GAAP diluted earnings per share (EPS) was $1.43 in the second quarter of 2015, up 15% from the second quarter of 2014. Non-GAAP net profit was $1.6 billion, up 16% from the second quarter of 2014.
Cash flow from operations was $1.5 billion, up 41% compared from the second quarter of 2014 and free cash flow was $1.3 billion, up 51% compared with the second quarter of 2014.
Teva president and CEO Erez Vigodman said, "Our preliminary results for the second quarter further demonstrate Teva’s continuous momentum and significantly strengthened fundamentals, improved generics and specialty businesses and ability to drive organic growth. We are confident that our key franchises, along with our transformational acquisition of Allergan Generics, will enable Teva to reinforce our already strong position and continue to generate stockholder value.”
Teva raised its EPS guidance for the full year 2015, reflecting the positive momentum across the business. For the full year 2015, the company now expects EPS to be in the range of $5.15 to $5.40, as compared with the previously provided EPS range of $5.05 to $5.35.
Published by Globes [online], Israel business news - www.globes-online.com - on July 27, 2015
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