Lannett (LCI) reported earnings on Tue 27 Aug 19 (a/h)

** charts after earnings **

 

Lannett beats by $0.16, beats on revs; guides FY20 revs above consensus

Reports Q4 (Jun) earnings of $0.37 per share, excluding non-recurring items, $0.16 better thanthe S&P Capital IQ Consensus of $0.21; revenues fell 21.7% year/year to $133.8 mln vs the $120.28 mln S&P Capital IQ Consensus. 

"Financial results for our fiscal 2019 fourth quarter, the first full quarter of the fiscal year without sales of Levothyroxine, exceeded or were at the upper end of our expectations. The quarter did benefit from a few items that were related to timing. Looking ahead, we expect to launch a number of new products that will continue to build our business in the near term and have begun adding products to our pipeline that have significant potential in the medium term and beyond."

Co issues upside guidancefor FY20, sees FY20 revs of $525-545 mln vs. $491.95 mln S&P Capital IQ Consensus; adj. EBITDA $145-160 mln

** 10 days later  **

Earnings this week : Aug 26 - 30, 19 (wk 35)

Notable earnings reports:

• Autodesk (NASDAQ:ADSK), J.M. Smucker (NYSE:SJM) and Hewlett Packard Enterprise (NYSE:HPE) on August 27; 
• Box (NYSE:BOX), Five Below (NASDAQ:FIVE), Tiffany (NYSE:TIF), Williams-Sonoma (NYSE:WSM) and H&R Block (NYSE:HRB) on August 28; 
• Abercrombie & Fitch (NYSE:ANF), Best Buy (NYSE:BBY), Dell Technologies (NYSE:DELL), Dollar General (NYSE:DG), Workday (NASDAQ:WDAY), Marvell Technologies (NASDAQ:MRVL) and Dollar Tree (NASDAQ:DLTR) on August 29; 
• Campbell Soup (NYSE:CPB) and JinkoSolar (NYSE:JKS) on August 30.

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• Tue 8/27 afternoon: ADSK HEI HPE LCI OOMA PAHC PSEC VEEV
• Wed 8/28 morning: BF.B CHS COTY DAKT DY EXPR MOV TIF
• Wed 8/28 afternoon: BOX ESTC FIVE GEF GES HRB MTRX NTNX OKTA OLLI PVH SCVL SMTC SPWH TLYS WSM ZUO
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• Thur 8/29 morning: ANF BBY BURL DBI DG DLTR GMS HAIN MBUU MEI PDCO SAFM SY TD TECD TITN
• Thur 8/29 afternoon: AMBA AOBC COO DELL MRVL ULTA WDAY YEXT
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• Fri 8/30 afternoon: BIG CPB JKS LX

Lannett (LCI) reported earnings on Wed 6 Feb 19 (a/h)

** charts before earnings **

 

** charts after earnings **

Lannett reports Q2 (Dec) results, beats on revs; guides FY19 revs above consensus

• Reports Q2 (Dec) earnings of $0.32 per share, may not be comparable to the S&P Capital IQ Consensus of $0.67; revenues rose 5.1% year/year to $193.7 mln vs the $162.51 mln S&P Capital IQ Consensus.
• Co issues upside guidance for FY19, sees FY19 revs of $615-635 mln (Prior $585-615 mln) vs. $598.81 mln S&P Capital IQ Consensus.
• Float 27.5 mln, Short Interest 52.4%

Lannett (LCI) issues guidance

 

Lannett says distribution agreement with Jerome Stevens Pharmaceuticals will not be renewed, offers prelim Q4 results 

• "The Steinlauf family advised us this past Friday evening that they will not renew our agreement to distribute three JSP products: Butalbital, Aspirin, Caffeine with Codeine Phosphate Capsules USP, Digoxin Tablets USP and Levothyroxine Sodium Tablets USP, upon its expiration in March 2019," said Tim Crew, chief executive officer of Lannett. "The family has assured us of a continuous supply of the products through March of next year. These products remain valuable assets for us and are expected to significantly contribute to our financial performance in fiscal 2019."
• "Looking ahead, our team is actively evaluating a number of additional potential transactions to add even more products to our portfolio to grow revenues and profits, and diversify our business. We have more than 20 owned and partnered drug product applications currently pending at the FDA, and anticipate a significant number of product approvals in fiscal 2019. We also expect to expand restructuring initiatives to further reduce expenditures. Finally, we are evaluating the impact of this contract ending in March 2019 on our goodwill."
• Prelim Q4 results:
  • Co sees Q4 Adj-EPS of $0.62-0.64 vs $0.66 S&P Capital IQ Consensus Estimate; sees revs of ~$171 mln vs $173.09 mln S&P Capital IQ Consensus Estimate
  • "Our financial performance was within our expected range, with revenue and adjusted net income solidly improved over last year. And, based on the preliminary results, we remain well within our debt financial covenant, and we expect to continue to meet these requirements throughout fiscal 2019."

Lannett (LCI) reported earnings on Thur 8 Feb 18 (b/o)

** charts after earnings **

 

Lannett beats by $0.20, misses on revs; guides FY18 revs below consensus

• Reports Q2 (Dec) earnings of $1.06 per share, excluding non-recurring items, $0.20 better thanthe Capital IQ Consensus of $0.86; revenues rose 7.8% year/year to $184.31 mln vs the $190.92 mln Capital IQ Consensus.
• Co issues downside guidance for FY18, sees FY18 revs of $680-700 mln vs. $717.75 mln Capital IQ Consensus Estimate.
  • Previous guidance was for $710-720 mln
  • Sees gross margin of 48% to 49%, down from 51% to 52%
• Adjusted gross profit was $96.7 million, or 52% of adjusted net sales, compared with $96.2 million, or 56% of adjusted net sales, for the prior year second quarter.
• Co states, "With regard to our fiscal 2018 second quarter bottomline, our adjusted earnings substantially benefited from recently enacted U.S. tax reform. We also anticipate our future results will be positively impacted by a lower effective tax rate."

Long trade : LCI +13% (9/15)