Teva up 4% premarket as turnaround advances, guidance raised

Teva Pharmaceutical Industries (NYSE:TEVA) Q3 results:

Revenues: $4,264M (-5.9%).

Key product sales: Copaxone: $397M (-33.9%); Generics: $2,224B (-1.8%).

Net loss: ($314M) (-15.0%); non-GAAP net income: $637M (-8.2%); loss/share: ($0.29) (-7.4%); non-GAAP EPS: $0.58 (-14.7%).

Cash flow ops: $325M (-22.8%).

2019 guidance: Revenues: $17.2B – 17.4B from $17.0B – 17.4B; operating income: $4.0B – 4.2B from $3.8B – 4.2B; EBITDA: $4.5B – 4.8B from $4.4B – 4.8B; EPS: $2.30 – 2.50 from $2.20 – 2.50; free cash flow: $1.7B – 2.0B from $1.6B – 2.0B.

Eli Kalif appointed EVP and Chief Financial Officer effective December 22. He joins the firm from Flex Ltd where he was SVP Finance Global Operations, Components & Services.

Shares up 4% premarket on increased volume.

Previously: Teva Pharmaceutical EPS misses by $0.01, beats on revenue (Nov. 7)

https://seekingalpha.com/news/3516280-teva-4-percent-premarket-turnaround-advances-guidance-raised