Grifols disappoints investors
07/31/2014 4:42 PM
07/31/2014 4:44 PM
Grifols, a major producer of blood-plasma products and Johnston County’s largest employer, suffered the consequences of disappointing investors.
The Spainish company’s American depositary receipts, which are similar to common stock for companies based overseas, fell 13 percent to $36.67 on Thursday.
The Spain-based company posted a 23 percent jump in net profit to 224.8 million euros, or $301.2 million, for the first half of the year. But analysts had anticipated net profit of 243 million euros, according to Bloomberg News.
EBITDA – earnings before interest, taxes, depreciation, and amortization – also fell short of expectations.
Revenue for the first six months of the year of 1.61 billion euros, or $2.16 billion, was in line with analysts’ estimates.
Grifols established a presence in the Triangle when it acquire Talecris for $3.4 billion in 2010. Today Talecris has 1,650 employees in Clayton and 2,300 in North Carolina.
The company’s products made from blood plasma are administered to people with illnesses such as hemophilia and Alzheimer’s.
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