Teva Pharma Q4 Profit Beats Estimates

(RTTNews) - Teva Pharmaceutical Industries Ltd. (TEVA) reported fourth quarter non-GAAP earnings per share of $0.77, compared to $0.68, a year ago. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.73, for the quarter. Analysts' estimates typically exclude special items.

GAAP net loss attributable to Teva was $159 million or $0.14 per share, compared to net income of $150 million or $0.14 per share, last year.

Revenues were $4.10 billion, a decrease of 8% in both U.S. dollars and local currency terms, mainly due to lower revenues from generic products in North America and COPAXONE, partially offset by higher revenues from AUSTEDO and AJOVY. Analysts on average had estimated $4.29 billion in revenue.

Fiscal 2021 non-GAAP earnings per share was $2.58, compared to $2.57, prior year. Revenues were $15.88 billion, a decrease of 5%, in U.S. dollars or 6% in local currency terms, compared to 2020.

"In 2021, Teva delivered solid results, generating strong cash flow and improving our profitability. We improved our gross and operating margin and reduced our net debt, keeping us on our path to achieve our 2023 long-term goals", said Kåre Schultz, Teva's CEO.

For fiscal 2022, the company expects: revenues to be $15.6 - $16.2 billion; and non-GAAP EPS to be $2.40 - $2.60. Analysts expect the company to report profit per share of $2.64 on revenue of $16.32 billion.