Ireland-based Mallinckrodt (MNK - Analyst Report) focuses on developing treatments for autoimmune and rare diseases (including neurology, rheumatology, nephrology and pulmonology) as well as therapies for pain management.

The company develops, manufactures, markets and distributes both branded and specialty generic pharmaceuticals. During the first quarter of 2015, the company changed its reportable segments and since then reports in three segments: Specialty Brands, Specialty Generics and Nuclear Imaging. The company sold its contrast media and delivery systems business to Guerbet S.A. in Nov 2015.

Mallinckrodt acquired Ikaria Inc. in 2015 to strengthen its business in the hospital market. With the addition of Inomax to its portfolio, Mallinckrodt gained access to the market for neonatal critical care, which helped it to diversify its portfolio in the Specialty Brands segment. The company also acquired Therakos Inc. in Sep 2015 to widen its presence from multimodal surgical pain management and critical care respiratory therapies in neonatal intensive care units to include innovative immunotherapy therapies.

Mallinckrodt has an excellent earnings track record with the company delivering positive earnings surprises in each of the last four quarters with a positive average earnings surprise of 12.2%. Estimate revisions for Mallinckrodt for fiscal 2016 have been down by a penny in the last thirty days.

Currently, Mallinckrodt has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: Mallinckrodt beat on earnings by a wide margin. Our consensus called for EPS of $1.72, and the company reported EPS of $2.01.

Revenue: Revenues also surpassed expectations. Mallinckrodt posted revenues of $918 million, compared to our consensus estimate of $874 million.

Key Stats: Revenue growth was primarily driven by the performance of H.P. Acthar Gel, Inomax and Therakos immunotherapy and incremental volume growth for Ofirmev. However, sales of from the specialty generics segment were down.

Guidance Upped: The company raised its guidance for fiscal 2016 and expects earnings in the range of $8.15 – $8.50 (earlier estimate was $7.85 – $8.30)