Mead Johnson Nutrition Q2 Profit Declines, Slashes 2015 Outlook - Quick Facts

(RTTNews) - Mead Johnson Nutrition Co. (MJN) reported that second-quarter net income to shareholders decreased to $162.9 million or $0.80 per share from $171.4 million or $0.84 per share in the prior-year quarter.

Excluding items, adjusted net earnings attributable to shareholders totaled $155.1 million or $0.76 per share, compared to $179.2 million or $0.88 per share in the year-ago quarter.

On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of $0.77 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter decreased to $1.03 billion from $1.11 billion in the same quarter last year. Analysts expected revenue of $1.05 billion for the quarter.

Looking ahead to fiscal 2015, Mead Johnson slashed its adjusted earnings guidance to a range of $3.63 to $3.78 per share from the prior forecast range of $3.90 to $4.00 per share. The company also now projects constant dollar revenue growth of 0 to 2 percent, down from the previous outlook for growth of around 7 percent.

Street is currently looking for full-year 2015 earnings of $4.27 per share on annual revenues of $4.27 billion.