Earnings Highlights - Mylan

LONDON, November 21, 2014 /PRNewswire/ --

Investor-Edge.com has issued free earnings highlights on Mylan Inc. (NASDAQ: MYL). On October 30, 2014, the company reported its financial results for Q3 FY14 (period ended September 30, 2014). Click on www.investor-edge.com/FreeReports to read our free earnings review on Mylan Inc. (Mylan). For Q3 FY14, the company's revenues increased 18% on a Y-o-Y basis, and its GAAP diluted EPS surged 215% from Q3 FY13. Heather Bresch, Mylan's CEO, stated that the company delivered outstanding Q3 results, with adjusted diluted EPS increasing 41%. She added that these strong results were delivered despite continued delays in approvals at FDA (Food and Drug Administration) for several products that the company had anticipated launching in 2014, which reflects the strength and diversity of Mylan's global business, and the breadth and depth of its portfolio. Our free coverage report can be accessed at:

www.investor-edge.com/register

Earnings Overview 

During Q3 FY14, Mylan's revenues increased to $2.08 billion from $1.77 billion in Q3 FY13. The company's reported revenues exceeded Bloomberg analysts' estimates of $2.05 billion. All of the company's business segments witnessed revenue growth with revenue from Generics Third Party Net Sales, Specialty Third Party Net Sales, and Other sources increasing 15%, 29%, and 29%, respectively, from Q3 2013. Within Generics segment, revenue from North America, and Europe, and Rest of World rose 19%, 1%, and 19%, respectively, on Y-o-Y basis. Commenting on the revenue growth, the company's CEO stated that during Q3 FY14, Mylan saw double-digit revenue growth in North America, Rest of World and its Specialty segment, and the company continued to execute against its growth drivers, with strong contributions from its injectables and anti-retroviral franchises, as well as from EpiPen® Auto-Injector. The free research on MYL can be downloaded as in PDF format at:

www.Investor-Edge.com/MYLFreeReport

Ms. Bresch further informed that Mylan's results underscore the importance of its integrated, high quality operating platform, which has again allowed the company to maximize key market opportunities when they present themselves.

Mylan's EBITDA increased to $652.7 million in Q3 FY14, from $401.4 million in Q3 FY13. On an adjusted basis, the company's EBITDA for Q3 FY14 stood at $736.0 million compared to $534.2 million in Q3 FY13. Mylan's Q3 FY14 GAAP net earnings broadened to $499.1 million, or $1.26 per diluted share, from $158.9 million, or $0.40 per diluted share, in Q3 FY13. On an adjusted basis, Mylan's Q3 FY14 net earnings increased to $462.8 million, or $1.16 per diluted share, from $324.3 million, or $0.82 per diluted share, in Q3 FY13. The company's adjusted net earnings came in better than Bloomberg analysts' forecasts of $451.8 million, or $1.14 per share.

Commenting on the results, John Sheehan, CFO of Mylan, said that the company delivered yet another strong quarter, including generating significant adjusted free cash flow, which year-to-date has been in excess of $800 million, up more than 65% from the prior year period. Sign up and read the free analyst's notes on MYL at:

www.Investor-Edge.com/MYL-21112014

In its guidance for Q4 FY14, Mylan expects adjusted EBITDA in the range of $660 million to $720 million, adjusted net earnings are expected between $410 million to $450 million, and adjusted diluted EPS is expected in the range of $1.03 to $1.09. Further, for FY14, Mylan expects total revenues of $7,700 million to $7,800 million, compared to its previous guidance of $7,800 million to $8,000 million. The company has raised its adjusted EBITDA guidance to $2,350 million-$2,410 million, from previous estimates of $2,200 million to $2,400 million. Mylan is expecting FY14 adjusted net earnings of $1,400 million to $1,440 million, up from prior estimates of $1,265 million to $1,370 million. Ms. Bresch informed that the company has increased its guidance range for full year adjusted diluted EPS to $3.54 to $3.60, representing year-over-year growth of 24% at the midpoint of the range.

Stock Performance  

On the day following the earnings release, October 31, 2014, Mylan's stock ended the session at $53.55, up 2.25%. The stock has witnessed mostly an upward movement since then. However, on the last close, Thursday, November 20, 2014, the stock finished at $55.22, down 0.83%, after vacillating between $55.01 and $55.84. A total of 1.86 million shares were traded, which was much below its three months average volume of 4.35 million shares. Over the last one month and the previous three months, the company's shares have gained 9.76% and 13.64%, respectively. Further, the stock has surged 27.24% on YTD basis. Shares in Mylan closed above their 50-day and 200-day moving averages of $50.17 and $49.75, respectively. Furthermore, the stock traded at a PE ratio of 18.92 and has a Relative Strength Index (RSI) of 65.90. Visit Investor-Edge and access the latest research on MYL at:

www.Investor-Edge.com/MYLEarningsCoverage

Sneak Peek to Corporate Insider Trading 

In the last one month, Mylan has reported one insider buying transaction to the U.S. Securities and Exchange Commission (SEC). On November 07, 2014, Melina E. Higgins, Director at Mylan Inc., bought 14,000 shares worth $734,285 at a price of $52.45 per share. Complimentary in-depth research on MYL is available at:

www.Investor-Edge.com/MYLInsiderTrading

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