Mylan backs FY19 adjusted EPS view $3.80-$4.80, consensus $4.40
Backs FY19 revenue view $11.5B-$12.5B, consensus $11.96B. Mylan CFO Ken Parks added: "During the first quarter, adjusted free cash flow of $27 million was slightly ahead of our expectations. Our results reflect an anticipated increase in net working capital required to support our topline growth expectations for 2019, which includes over $1 billion in new product launches, as previously communicated. Given our stable and durable cash flow profile, we remain committed to deleveraging and intend to repay $1.1 billion of debt during 2019. We also remain fully committed to maintaining our investment grade credit rating. For the full year 2019, we are reaffirming our guidance and business outlook, including our total revenue range of $11.5 billion to $12.5 billion, adjusted EPS guidance range of $3.80 to $4.80 and adjusted free cash flow range of $1.9 billion to $2.3 billion."