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Fly News Breaks for February 26, 2019
MNK
Feb 26, 2019 | 09:35 EDT
After Mallinckrodt reported Q4 adjusted EPS of $2.18, which beat Wells Fargo's estimate of $1.95 estimate and the consensus estimate of $1.98, Wells Fargo analyst David Maris said the results do not compare to his estimate or consensus since the company returned the Specialty Generics segment to the results after previously putting it in discontinued operations. Mallinckrodt also provided preliminary 2019 guidance including Specialty Generics and Amitiza in continuing operations, which would change when the Specialty spinoff is achieved, Maris noted. The analyst, who believes most questions on the company's earnings call will focus on whether Acthar is stabilizing or likely to face further declines, keeps a Market Perform rating on Mallinckrodt shares.
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