Mallinckrodt plc Reports Third Quarter 2024 Financial Results and Raises Full Year Guidance
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Mallinckrodt plc reported a 1.7% year-over-year growth in net sales for Q3 2024, reaching $505.5 million. The company raised its full-year adjusted EBITDA guidance and expects Acthar Gel to grow by 10% in 2024. Proceeds from the Therakos business sale are expected to reduce net debt by over 60% in Q4.
November 05, 2024 | 12:30 pm
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Mallinckrodt plc reported positive Q3 2024 financial results with a 1.7% increase in net sales and raised its full-year adjusted EBITDA guidance. The company expects significant debt reduction from the Therakos sale.
The positive financial results, increased guidance, and significant debt reduction are likely to boost investor confidence and positively impact Mallinckrodt's stock price in the short term.
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