Amneal Pharma Posts Mixed Q2 Earnings, Cuts Profit Outlook For 2022
- Amneal Pharmaceuticals Inc reports Q2 revenue of $559 million, an increase of 5% Y/Y, beating the consensus of $536.34 million.
- The increase was driven by growth across all three segments with solid broad-based performance in generics, including injectables.
- Adjusted EPS was $0.19, missed the consensus of $0.20, and was lower than the $0.23 posted a year ago.
- Adjusted EBITDA decreased 6% to $135 million, reflecting lower gross profit due to product mix and a tough comparison to the prior year.
- Outlook: Amneal has lowered FY22 adjusted EPS outlook guidance to $0.65 - $0.70, down from $0.80 - $0.85, and the consensus of $0.84.
- The company forecasts an adjusted EBITDA of $500 - $520 million, down from $540 - $560 million expected earlier.
- It reaffirms FY22 sales guidance of $2.15 billion - $2.25 billion, compared to the consensus of $2.19 billion.
- Amneal says 2022 estimates are based on current expectations, including prescription trends, pricing levels, the timing of future product launches, the costs incurred, and the benefits realized from restructuring activities.
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