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 #4 (Sell) but that could change following its dismal third-quarter 2015 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: The current Zacks Consensus Estimate stands at 85 cents per share. Mead Johnson’s adjusted earnings per share of 80 cents missed this estimate by a nickel.
Revenues: Mead Johnson posted revenues of $0.978 billion, missing the Zacks Consensus Estimate for revenues of $1.041 billion.
Key Stats: Revenue from Asia decreased 15% to $476.8 million, while sales from Latin America dropped 17% y/y to $184.5 million. On the other hand, sales from North America/Europe increased 3% y/y to $316.2 million.
Major Factors: Despite facing some unexpected challenges in the third quarter, Mead Johnson was able to deliver consistent strong performance in its North American and European businesses. Management also seemed encouraged with the company’s new initiatives in China, wherein price based promotional activities were observed across all channels.
Stock Price: Following the earnings release, 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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