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Amneal Pharmaceuticals (AMRX) Provides Quarterly Guidance

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January 10, 2024 7:12 AM EST

Amneal Pharmaceuticals (Nasdaq: AMRX)

In connection with a presentation to be made at an investor conference on January 10, 2024, Amneal Pharmaceuticals, Inc., a Delaware corporation (the “Company”), reaffirmed guidance with respect to the year ended December 31, 2023, which was previously announced on November 7, 2023 in connection with announcing the Company’s third quarter 2023 results:
Net revenue$2.37 billion - $2.42 billion
Adjusted EBITDA (1)$540 million - $550 million
Adjusted diluted EPS (2)$0.51 - $0.58
Operating cash flow (3)$250 million - $280 million
Capital expenditures$50 million - $60 million
Weighted average diluted shares outstanding (4)Approximately 310 million
(1) Includes 100% of Adjusted EBITDA from the AvKARE acquisition.
(2) Accounts for 35% non-controlling interest in AvKARE.
(3) Does not contemplate one time and non-recurring items such as legal settlements and other discrete items.
(4) Assumes (i) the weighted average diluted shares outstanding of class A common stock and (ii) as if all class B common stock was converted to class A common stock as of January 1, 2023.
The Company’s 2023 estimates are based on management’s current expectations, including with respect to prescription trends, pricing levels, the timing of future product launches, the costs incurred and benefits realized of restructuring activities, and our long-term strategy. The Company’s financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The Company cannot provide a reconciliation between non-GAAP projections and the most directly comparable measures in accordance with GAAP without unreasonable efforts because it is unable to predict with reasonable certainty the ultimate outcome of certain significant items required for the reconciliation. The items include, but are not limited to, acquisition-related expenses, restructuring expenses and benefits, asset impairments, legal settlements and other gains and losses. These items are uncertain, depend on various factors, and could have a material impact on GAAP reported results.

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