Mead Johnson Nutrition Company MJN is one of the leading providers of nutritional products for infants, children and expectant and nursing mothers. Its Enfa franchise that includes Enfamil infant formula accounts for almost 80% of the company’s net sales.
Currently, Mead Johnson has a Zacks Rank #3 (Hold) but that could change following its first-quarter 2017 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here). We have highlighted some of the key details from the just-released announcement below:
Earnings: The Zacks Consensus Estimate stands at 82 cents per share for past 7 days. Mead Johnson’s adjusted earnings per share of 80 cents in the first quarter missed this estimate by a couple of cents.
Mead Johnson Nutrition Company Price and EPS Surprise
Mead Johnson Nutrition Company Price and EPS Surprise | Mead Johnson Nutrition Company Quote
Revenues: Mead Johnson posted first quarter revenues of $883.5 million, missing the Zacks Consensus Estimate for revenues of $916 million.
Key Stats: Revenue from Asia decreased 13% to $434.1 million, while sales from Latin America dropped 3% y/y to $156.2 million. Sales from North America/Europe also dropped 3% y/y to $293.2 million.
Major Factors: Management is looking forward to significant benefits from the proposed merger with Reckitt Benckiser, including benefits from scale, potential geographic expansion, and increased resilience within a diversified group to help strengthen business. Therefore Mead Johnson has not provided any further guidance for 2017.
Stock Price: Following the earnings release, the company’s share prices did not show any movement in the pre-market trading session.
Check back later for our full write up on this Mead Johnson earnings report later!
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Mead Johnson Nutrition Company (MJN): Free Stock Analysis Report
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April 27, 2017 at 07:40PM
from Zacks Equity Research
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