Valeant: solid performance in Q1.

(CercleFinance.com) - Just for once, on Tuesday Valeant reported sound quarterly results.


The Canadian pharmaceutical group, which has experienced a number of serious setbacks over recent months, between formal investigations about its external growth operations, changes in its management team and profit warnings, reported EPS of 1.79 dollar over the first 3 months of 2017, compared with a loss of 1.08 dollar per share a year ago. Overall, the consensus was much less confident, expecting EPS of "just" 87 cents.

Revenues, on the other hand, fell by more than expected, down from 2.37 billion dollars in the first quarter of 2016 to 2.11 billion dollars, compared with an average forecast of 2.18 billion dollars.

However, Valeant has increased its FY adjusted EBITDA target, which it now expects to be between 3.6 billion dollars and 3.75 billion dollars, compared with a previous range of 3.55 billion dollars to 3.7 billion dollars.


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