Allergan Boosts 2018 Outlook As Q1 Results Top Estimates - Quick Facts

(RTTNews) - Allergan plc (AGN) on Monday raised adjusted earnings guidance for the full-year 2018 to a range to $15.65 to $16.25 per share from the prior guidance range of $15.25 to $16.00 per share.

Revenues for full year are also now expected in a range of $15.15 billion to $15.35 billion, up from the previously projected range of $15.0 to $15.3 billion.

On average, analysts polled by Thomson Reuters expect the company to earn $15.65 per share on revenues of $15.22 billion for the year. Analysts' estimates usually exclude special items.

Further, the company expects adjusted earnings for the second quarter to be in the range of $4.00 to $4.20 per share on projected revenues between #3.85 billion and $4.0 billion. The Street is expecting earnings of $3.94 per share on revenues of $3.84 billion for the quarter.

For the first quarter, the company reported a sharply narrower net loss attributable to shareholders of $286.1 million or $0.86 per share than $2.56 billion or $7.65 per share a year ago.

Adjusted earnings from continuing operations for the quarter were $3.74 per share, compared to $3.35 per share last year.

Revenue for the quarter increased 2.8 percent to $3.67 billion from $3.57 billion a year ago. Revenue growth was powered by BOTOX, CoolSculpting, ALLODERM, VRAYLAR, LINZESS, JUVÉDERM Collection of Fillers and Lo LOESTRIN.

Analysts expected the company to report earnings of $3.35 per share on revenue of $3.59 billion for the quarter.

Allergan said it continues to advance R&D pipeline including Cariprazine for bipolar I depression and Ubrogepant for acute migraine.