US: Mead Johnson hails "strong" 2013 but shares down on 2014 forecasts
Mead Johnson has posted an 8% sales increase for Q4 2013
US infant formula group Mead Johnson today (31 January) booked higher annual sales and profits but its shares fell after its forecast for 2014 earnings fell below Wall Street estimates.
The company booked a 7.4% rise in net earnings to US$649.5m for 2013. EBIT was $924.6m, compared to $870m in 2012.
Sales increased 8% to $4.2bn thanks to higher prices and volumes.
"We are pleased with our strong 2013 performance as we achieved sales growth at the top end of our guidance range and earnings that exceeded expectations," CEO Kasper Jakobsen said.
However, Mead Johnson's forecast for 2014 full-year non-GAAP earnings per share of $3.50 to $3.62 was below Wall Street estimates. Analysts surveyed by Thomson Reuters had forecast $3.67 a share.
Mead Johnson's stock was down 1% at $78.58 at 12:02 ET.
For the full results, click here.
Mead Johnson remains the leader in milk formula in China. However, this market is undergoing changes which may intensify competition going forward. Meanwhile, public perception of infant milk formula ...
TechNavio's Analysts forecast the Global Baby Food and Formula market to grow at a CAGR of 5.4 percent over the period 2012-2016. One of the key factors contributing to this market growth is the growi...
Synopsis Baby Food Canada examines the trends in the baby food market for 2006-2012, with forecasts to 2018. It examines how live birth rates, breastfeeding trends, the economic crisis, new product a...
Synopsis Baby Food Philippines examines the trends in the baby food market for 2006-2012, with forecasts to 2018. It examines how live birth rates, breastfeeding trends, the economic crisis, new produ...
- Deal or no deal: Frozen sale makes sense for Kerry
- On the money: How Greencore is outperforming
- Comment: Mondelez digital strategy suffers blow
- JBS sees big opportunity from Primo Smallgoods
- Shopper trends: Promos can mean higher prices
- Kerry puts frozen food unit on block - reports
- Coca-Cola eyes long-term rewards with dairy push
- Post issues warning over US cereal sector sales
- UPDATE: Greencore eyes US$1bn US business
- Abraaj outbids Kellogg with fresh Bisco Misr offer