Amneal Pharmaceuticals (AMRX) Tops Q2 EPS by 3c, Revenues Beat; Maintains FY20 EPS/Revenue Guidance

Amneal Pharmaceuticals (: AMRX) reported Q2 EPS of $0.13, $0.03 better than the analyst estimate of $0.10. Revenue for the quarter came in at $465 million versus the consensus estimate of $457.26 million.

• Q2 2020 Net Revenue of $465 million; GAAP Net Loss of $(12) million; Diluted Loss per Share of $(0.08)
• Q2 2020 Adjusted Net Income (1) of $38 million; Adjusted EBITDA (1) of $101 million; Adjusted Diluted EPS (1) of $0.13
• Maintaining 2020 Full Year Financial Outlook

“Amneal executed well against our operational and strategic goals in the second quarter and, even in the face of COVID-related headwinds, delivered strong financial results,” said Chirag and Chintu Patel, Co-Chief Executive Officers. “Our commitment to execution, innovation and cost efficiency continues to drive growth across our Generics, Specialty and AvKARE segments and positions us well for the remainder of 2020 and beyond. We are extremely proud of our employees across the globe, who have demonstrated resiliency during this public health crisis and remain dedicated to our mission of bringing affordable medicines to patients.”

GUIDANCE:

Amneal Pharmaceuticals sees FY2020 EPS of $0.45-$0.60, versus the consensus of $0.56. Amneal Pharmaceuticals sees FY2020 revenue of $1.875-1.975 billion, versus the consensus of $1.91 billion.

For earnings history and earnings-related data on Amneal Pharmaceuticals (AMRX) click here.

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