Amneal Pharma Posts Mixed Q2 Earnings, Cuts Profit Outlook For 2022

Amneal Pharmaceuticals Inc AMRX 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.
Price Action: AMRX shares closed 4.28% lower at $3.47 on Thursday.

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