Teva Pharma Lifts Q2 Adj. EPS, Revenue Forecast Above Market Estimates

(RTTNews) - Teva Pharmaceutical Industries Ltd. (TEVA) announced Wednesday that it now expects second quarter adjusted earnings per share to be $1.19 to $1.22, higher than previous estimate of $1.16 to $1.20.

On average, 21 analysts polled by Thomson Reuters expect earnings of $1.17 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the second quarter are now projected to be $4.9 billion to $5.0 billion, compared to its previous guidance of $4.8 billion to $4.9 billion. Analysts expect revenues of $4.81 billion.

Cash flow from operating activities is now expected to be $1.0 billion to $1.1 billion, compared to $1.2 billion to $1.3 billion expected earlier.

Teva said it will discuss its quarterly preliminary non-GAAP financial results at today's conference call and webcast for the investment community. The Company will also provide its preliminary non-GAAP financial outlook for the years 2016 - 2019, which will include its pending acquisition of the Actavis Generics business that is awaiting FTC clearance.