Hospira Beats by a Penny - Analyst Blog
14 Fevereiro 2013 - 8:00AM
Zacks
Hospira Inc.’s
(HSP) fourth quarter 2012 earnings (excluding special items) of 55
cents per share beat the Zacks Consensus Estimate of 54 cents.
Higher-than-expected revenues led to the earnings beat. Moreover,
earnings were above the year-ago figure by 7.8%. Including one-time
items, fourth quarter 2012 earnings came in at 3 cents per share as
opposed to a loss of $1.30 suffered in the final quarter of
2011.
Fourth quarter revenues increased 8.4% to $1.1 billion, narrowly
beating the Zacks Consensus Estimate of $1.04 billion.
Full year adjusted earnings came in at $2.01 per share, a penny
above the Zacks Consensus Estimate but 33.9% below the year-ago
earnings. Results were hurt by the manufacturing challenges at the
company’s facility in Rocky Mountain, North Carolina. Full year
earnings came in a penny above the company’s guidance. Revenues
increased 0.9% to $4.1 billion in 2012, edging past the Zacks
Consensus Estimate of $4.04 billion.
Quarter in Details
The SIP business, the biggest contributor to Hospira’s revenues,
performed well in the quarter with sales from the segment climbing
11.9% (up 12.1% at constant currency) to $696.2 million.
Drugs such as Precedex performed well during the quarter. Moreover,
the Aug 2012 re-launch of Hospira’s generic version of
Sanofi’s (SNY) cancer drug, Eloxatin, also aided
results. The SIP segment includes generic injectables as well as
proprietary specialty injectables.
Sales in the Medication Management segment climbed 3.3% (up 3.2% at
constant currency) to $268.6 million. Sales in the Other Pharma
division climbed 1.5% (up 1.5% at constant currency) to $134.1
million.
Geographically, the Americas, Europe, Middle East and Africa and
the Asia-Pacific markets contributed $869.7 million (up 10.3% at
constant currency), $139.7 million (up 7.0% at constant currency)
and $89.5 million (down 5.2% at constant currency), respectively,
to total revenue in the final quarter of 2012.
2013 Outlook
Apart from releasing its financial results, the company provided
guidance for 2013. Hospira expects top-line growth in the range of
1%-3% both on constant-currency and reported basis. The company
expects 2013 adjusted earnings in the range of $2.05 to $2.20 per
share, up 2%-9%. The Zacks Consensus Estimate for 2013 is at the
high end of the guidance range.
Hospira carries a Zacks Rank #3 (Hold). Favorably placed stocks in
the medical sector include Covidien plc (COV) and
Edwards Lifesciences Corporation (EW). Both stocks
sport a Zacks Rank #2 (Buy).
COVIDIEN PLC (COV): Free Stock Analysis Report
EDWARDS LIFESCI (EW): Free Stock Analysis Report
HOSPIRA INC (HSP): Free Stock Analysis Report
SANOFI-AVENTIS (SNY): Free Stock Analysis Report
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