Hospira Q3 EPS Tops View, Boosts Full Year Outlook - Quick Facts

(RTTNews) - Hospira, Inc. (HSP), a provider of injectable drugs and infusion technologies, said third-quarter net income surged to $158.6 million from last year's $1.9 million. Earnings per share were $0.92, compared to $0.01 last year.

Adjusted earnings per share were $0.74, while it totaled $ 0.51 last year. On average, 13 analysts polled by Thomson Reuters expected earnings of $0.53 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales jumped to $1.151 billion from $1.008 billion last year, benefiting from the continued strong global sales of Specialty Injectable Pharmaceuticals or SIP products.

Favorable pricing, as well as strong volume driven by continued supply recovery in the United States, were the major contributors to the strong performance. Analysts expected revenues of $1.08 billion.

For 2014, the company is now projecting adjusted earnings per share to range between $2.40 and $2.50, the upper end of the prior range of $2.30 to $2.50 per share. Wall Street looks for earnings of $2.37 per share.

Hospira now expects net sales growth for full-year 2014 to range between 8.5 to 9.5 percent on a constant-currency basis, with minimal impact from foreign currency. Net sales growth was previously seen as a growth of 6 to 9 percent.