Pediatric nutrition specialist Mead Johnson Nutrition Co. ( MJN ) on Thursday posted first quarter earnings results that exceeded expectations and lifted its full-year outlook.
The Glenview, IL-based company reported first quarter net income of $164.2 million, or 80 cents per share, compared with $146.1 million, or 71 cents per share, in the year-ago period. Excluding special items, adjusted profit was 82 cents per share.
Revenue rose 10% from last year to $986.6 million.
On average, wall Street analysts expected a smaller profit of 78 cents per share, on lower revenue of $974.6 million.
Looking ahead, MJN said it now expects full-year 2012 earnings to range from $3.04 to $3.14 per share, up from a prior estimate of $3 to $3.10. Analysts are looking for $3.11 per share for the year.
Mead Johnson Nutrition shares rose $3.20, or +3.9%, in morning trading Thursday.
The Bottom Line
Shares of Mead Johnson Nutrition ( MJN ) have a 1.44% dividend yield, based on last night's closing stock price of $83.07. The stock has technical support in the $75-$80 price area. The shares are trading at all-time highs.
Mead Johnson Nutrition Co. ( MJN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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