- Teva Pharmaceutical Industries Ltd TEWA Third quarter revenue reached $3.59 billionshrinks 8% year-on-year, missing consensus of $3.83 billion.
- The decrease was primarily due to lower sales of Generics in North America and Copaxone, partially offset by higher sales of Austedo in North America and Generics in the Europe segment.
- Adjusted gross margin was 53% compared to 53.6% a year ago. The main reason for this decrease was higher operating costs.
- Adjusted operating margin reached 27.2% compared to 26.8% a year earlier.
- Adjusted EBITDA fell 7% to $1.09 billion.
- Adjusted earnings per share of $0.59 were below Wall Street’s estimate of $0.62.
- Outlook: Teva is forecasting FY22 sales of $14.8 billion to $15.4 billion, down from the previous guidance of $15.0 billion to $15.6 billion versus the consensus of $15.46 billion -equivalent to dollars.
- It confirms adjusted earnings per share of $2.40 to $2.60 compared to consensus of $2.50.
- Teva forecasts Copaxone sales of approximately $700 million.
- Price promotion: TEVA shares are down 4.34% to $8.38 during the premarket session last check Thursday.
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