Teva Q4 earnings up 104% as turnaround continues

Teva Pharmaceutical Industries (NYSE:TEVA) Q4 results:

Revenues:$4,468M (+1%); North America: $2,373M (+6%); Generics: $2,497M (+2%), Copaxone: $387M (-22%).

Net income: $110M (+104%); non-GAAP net income: $683M (+26%); EPS: ($0.91); non-GAAP EPS: $0.10 (+104%).

Consensus was non-GAAP EPS of $0.61 on revenues of $4.35B.

Cash flow ops (full year): $748M (-69%). Decrease mainly due to the working capital adjustment with Allergan and the Rimsa settlement in 2018 and lower profits in North America in 2019.

Cash flow ops in Q4: $538M (+47%).

All components of 2019 outlook met, including spend base reduction target of $3B.

2020 guidance: Revenues: $16.6B – 17.0B; Copaxone sales: ~$1.2B; Austedo sales: ~$650M; AJOVY sales: ~$250M; non-GAAP EPS: $2.30 – 2.55; free cash flow: $1.8B – 2.2B.

https://seekingalpha.com/news/3540971-teva-q4-earnings-up-104-turnaround-continues