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Mead Johnson (MJN) Q1 Earnings, Revenues Tops Estimates

Mead Johnson Nutrition Company MJN, a renowned provider of pediatric nutritional products with an innovation experience of more than 100 years, offers more than 70 products in over 50 countries across the globe. The comprehensive product portfolio of this Illinois-based company includes Enfamil infant formula – which represents one of the leading brand franchises in pediatric nutrition.

Currently, Mead Johnson has a Zacks Rank #3 (Hold) but that could change following its first quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:

Earnings:The current Zacks Consensus Estimate stands at 84 cents per share. Mead Johnson's adjusted earnings per share of 87 cents beat this estimate by 3.6%.

Revenues:Mead Johnson posted revenues of $962.1 million, comfortably beating the Zacks Consensus Estimate for revenues of $945 million.

Key Stats: Year over year revenue from Asia dropped 14% to $500.6 million, while sales from Latin America declined 22% y/y to $160.3 million. On the other hand, sales from North America/Europe dropped 3% y/y to $301.2 million.

Major Factors: Mead Johnson kick started 2016 on a promising note, witnessing a notable sequential improvement in its underlying business. Management remained are particularly upbeat by the progress the company made in reshaping its business in China. However, year over year segmental performance was disappointing.

Stock Price: Following the earnings release, share prices did not show any notable movement in the pre-market trading session.

Check back later for our full write up on this Mead Johnson earnings report later!

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