US baby food maker Mead Johnson Nutrition has raised its full-year profit guidance after reporting higher first-quarter sales and earnings today (28 April).
On a GAAP basis, the company’s net earnings for the first three months of the year rose to US$146.1m, up from $125.6m for the comparable period of last year.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The group said that earnings were boosted by a lower tax rate that was the result of a shift in its geographic earnings mix as well as improved revenues.
Net sales for the first quarter jumped 18% to $899.8m.
Looking to the full year, Mead Johnson lifted its earnings outlook to a range of $2.62-70 per share, from previous guidance of $2.55-65 per share. Sales for this year are expected to grow by about 10%, excluding currency exchange.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
