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Amneal Q2 Earnings Tops Estimates; Backs FY21 Guidance

Amneal Pharmaceuticals Inc (NYSE:AMRX) reports Q2 revenue of $535 million, an increase of 15% Y/Y, beating the consensus of $523.25…
byVandana Singh
August 9, 2021
1 minute read
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  • Amneal Pharmaceuticals Inc (NYSE:AMRX) reports Q2 revenue of $535 million, an increase of 15% Y/Y, beating the consensus of $523.25 million.
  • Sales growth was driven by Generic product launches, specialty products Rytary & Unithroid, and overall volume growth within Generics and AvKARE segments.
  • The gross margin expanded from 31% a year ago to 39.7%, buoyed by the Generics segment.
  • Adjusted EPS almost doubled to $0.25, ahead of the consensus of $0.19.
  • Amneal held cash and equivalents of $283.15 million at the end of Q2.
  • Adjusted EBITDA was $151 million, an increase of 50% Y/Y reflective of net income growth. 
  • Outlook: Amneal maintains previously provided guidance for FY21 with sales of $2.1 billion – $2.2 billion (consensus $2.12 billion).
  • It expects adjusted EBITDA of $500 million – $540 million and adjusted EPS of $0.70 – $0.85 (consensus $0.82).
  • Price Action: AMRX shares closed at $4.87 on Friday.
 
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