Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA ) posted better than expected fourth quarter earnings results on Monday, Feb. 13 (6:58am) and reiterated its strong outlook, sending its shares higher in morning trading.

Written by StockNews.com

The Israeli pharmaceuticals giant reported adjusted Q4 EPS of $1.38, which was $0.02 better than the Wall Street consensus estimate of $1.36. Revenues surged 33% from last year to $6.49 billion, also topping analysts’ view for $6.26 billion.

Teva noted that its acquisition of the Actavis Generics business was a huge tailwind to its top and bottom line, with generic medicines revenues jumping 44% to $3.7 billion in the period, and generic medicine profits up 55% to $1.1 billion.

Elsewhere, Q4 specialty medicines segment revenues gained 4% to $2.2 billion, with profits up 9% to $1.1 billion.

Looking ahead, TEVA reaffirmed its previously announced 2017 full-year EPS outlook of $4.90 to $5.30, which is ahead of Wall Street expectations of $4.89. 2017 revenues are seen ranging from $23.8 to $24.5 billion, also higher than analysts’ $23.77 billion view.

The company commented via press release:

“In 2017, our main focus will be extracting synergies related to the Actavis Generics transaction, driving additional efficiencies throughout the organization, supporting cash generation and paying down our debt to maintain a strong balance sheet and delivering on the promise of the specialty pipeline and key generic launches. We are laser focused on execution at this critical juncture and are determined to deliver on our key priorities.”

...Year-to-date, TEVA has declined -11.20%, versus a 3.57% rise in the benchmark S&P 500 index during the same period.

TEVA currently has a StockNews.com POWR Rating of D (Sell), and is ranked #72 of 134 stocks in the Medical – Pharmaceuticals category.