Mylan Inc. (Nasdaq: MYL) Q2 2011 Earnings Preview
By:NewsyStocks   Tuesday, July 26, 2021 2:30 PM

Mylan Inc. (Nasdaq: MYL) is scheduled to release second quarter earnings for 2011 on July 27.

Mylan Inc. is a generic and specialty pharmaceutical company that provides products to customers in more than 150 countries and territories. It is a fully-integrated global pharmaceutical company that develops, licenses, manufactures, markets and distributes generic and branded generic pharmaceuticals, specialty pharmaceuticals and active pharmaceutical ingredients.


In Q1 2011


-         Adjusted diluted earnings of $0.44 per share, compared with diluted earnings of $0.36 per share in the first quarter of 2010, an increase of 22 percent.

-         Net income was $104 million, an increase of over 20 percent from first quarter 2010.

-         Adjusted EBITDA  was $386 million compared with $323 million in the first quarter of 2010, an increase of over 19 percent.

-         Total revenue of $1.45 billion increased 12 percent. Revenue in Q1 2010 was $1.29 billion.


Mylan's revenue has risen the past four quarters. The company met earnings estimates last quarter after beating forecasts in the prior two. The company has recently joined with India's Biocon for manufacturing and marketing the latter's generic offerings in the U.S. market. Mylan has just received voluntary license rights to Gilead's HIV/AIDS pipeline products in the developing world. This follows its recent agreement with Bristol-Myers Squibb to expand access to generic Reyataz in Sub-Saharan Africa and India.


For this quarter, the average EPS estimate is 45 cents, a rise of 21.6 percent from the company's actual earnings for the same quarter a year ago. For the year, analysts are projecting earnings of $2 per share, a rise of 24.2 percent from last year. On average, analysts predict $1.5 billion in revenue this quarter, a rise of 9.5 percent from the year-ago quarter. Analysts are forecasting total revenue of $6.13 billion for the year, a rise of 12.5 percent from last year's revenue of $5.45 billion. The company does not declare dividends.


Mylan last traded at a price of $23.94 and has a 52-week range of $16.87 to $25.46. It is currently trading close to its 52-week high. The stock has a target price of $28, with an average recommendation of Overweight.