Mead Johnson Nutrition Q1 Profit Rises, Backs 2015 Outlook - Quick Facts

(RTTNews) - Mead Johnson Nutrition Co. (MJN) reported that first-quarter net income to shareholders increased to $207.4 million or $1.02 per share from $202.4 million or $1.00 per share in the prior-year quarter.

Excluding items, adjusted net earnings attributable to shareholders totaled $222.2 million or $1.09 per share, compared to $206.1 million or $1.02 per share in the year-ago quarter.

On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $1.05 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter decreased to $1.09 billion from $1.11 billion in the same quarter last year. Analysts expected revenue of $1.13 billion for the quarter.

Looking ahead to fiscal 2015, Mead Johnson still expects adjusted earnings in a range of $3.90 to $4.00 per share. Analysts currently expect the company to report full-year 2015 earnings of $4.00 per share.

The company also anticipates revenue growth around 7 percent in constant dollars with growth largely in the second half of the year as new initiatives are launched.