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Mylan Reiterated Fiscal 2019 Revenue Guidance

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May. 10 2019, Published 1:52 p.m. ET

Revenue guidance

In the first-quarter earnings conference call, Mylan (MYL) reaffirmed its fiscal 2019 revenue guidance of $11.5 billion to $12.5 billion. The company expects to earn $1.1 billion of these revenues from new products. Of these new products, two-thirds have already been launched, while most of the remaining products have secured regulatory approvals. The company is forecasting higher revenue contribution from new product launches in the second half as compared to the first half of fiscal 2019.

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According to the first-quarter earnings conference call, Mylan expects one-third of the $1.1 billion in revenues to be attributable to the carry-over benefit from those products that were launched in fiscal 2018 but had not yet impacted revenues for the full year yet. The next one-third of the revenues is attributable to the anticipated ramp-up of Wixela, the generic version of Advair. Finally, the remaining one-third of the $1.1 billion in revenues is expected to be contributed by new products scheduled to be launched in fiscal 2019.

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Analysts expect Mylan’s revenues to change YoY by 2.76% to $11.75 billion in fiscal 2019, 3.28% to $12.14 billion in fiscal 2020, and 3.20% to $12.52 billion in fiscal 2021.

Analysts also expect Mylan’s revenues to change YoY by 1.49% to $2.85 billion in the second quarter, 6.11% to $3.04 billion in the third quarter, and 7.30% to $3.30 billion in the fourth quarter of fiscal 2019.

Capital expenditures

At the Raymond James 40th Annual Institutional Investors Conference, Mylan guided for capital expenditures of $250 million to $400 million for fiscal 2019.

Analysts expect Mylan’s capital expenditures to change YoY by 30.48% to $328.93 million in fiscal 2019, 2.51% to $337.18 million in fiscal 2020, and -1.95% to $330.60 million in fiscal 2021.

Analysts also expect Mylan’s capital expenditures to change YoY by 71.47% to $77.51 million in the second quarter, 27.34% to $78.31 million in the third quarter, and -29.80% to $80.53 million in the fourth quarter of fiscal 2019.

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