Valeant Soars 14% After Encouraging Q1, Raised Guidance

Shares of Valeant Pharmaceuticals Intl Inc (NYSE: VRX) rose about 14 percent early Tuesday morning after the troubled pharmaceutical company reported an encouraging first quarter earnings report and guidance raise.

Valeant reported a first quarter GAAP earnings per share of $1.79, which marks an improvement from the $1.08 per share loss the company reported in the same quarter a year ago. Net income for the quarter totaled $273 million on sales of $2.109 billion.

Here is a rundown of Valeant's sales broken down by unit versus the same period last year.

• Global Vision Care: $170 million versus $172 million last year.
• Global Surgical: $157 million versus $168 million last year.
• Global Consumer: $375 million versus $368 million last year.
• Global Ophtho Rx: $143 million versus $141 million last year.
• International: $305 million versus $297 million last year.
• Bausch + Lomb/International: $1.150 billion versus $1.26 billion last year.

Valeant also provided an update to its full year 2017 outlook. Valeant reaffirmed its full year revenue expectations at a range of $8.9 billion to $9.1 billion, but did revise its adjusted EBITDA outlook from a range of $3.55 billion to $3.7 billion to a new range of $3.6 billion to $3.75 billion.

The stock traded at $11.05, up 13.8 percent at time of publication.

See Also:

Valeant's Asset Sale To L'Oreal Explained

New Valeant = Old Valeant: Wells Fargo