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Sep 30, 2024
Viatris Q3 2024 Earnings Report
Announced robust financial results, driven by positive momentum across all three strategic pillars.
Key Takeaways
Viatris reported strong Q3 2024 results with total revenues of $3.8 billion, including $133 million from new products. The company repaid approximately $1.9 billion in debt and expanded its innovative portfolio through an exclusive licensing agreement for sotagliflozin. Adjusted EBITDA grew by ~4% to $1.3 billion on a divestiture-adjusted basis, and adjusted EPS grew by ~6% to $0.75 per share on a divestiture-adjusted basis. The company reaffirms its 2024 full-year outlook, expecting revenue growth of ~2% on a divestiture-adjusted operational basis.
Total revenues reached $3.8 billion, with operational revenue growth of approximately 3% on a divestiture-adjusted basis, demonstrating the strength of the company's base business.
New product revenues were strong at $133 million, driving growth across segments.
U.S. GAAP net earnings were $95 million, with adjusted EBITDA growing approximately 4% to $1.3 billion on a divestiture-adjusted basis. U.S. GAAP diluted EPS was $0.08 per share, and adjusted EPS grew approximately 6% to $0.75 per share on a divestiture-adjusted basis.
Approximately $1.9 billion of debt was repaid, and the company expects to achieve its long-term gross leverage target of approximately 3.0x by the end of the year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company reaffirms its 2024 full-year outlook and expects to be at the midpoint of the November 7, 2024, guidance ranges.
Positive Outlook
- Total Revenues: $14.60 billion - $15.10 billion
- Adjusted EBITDA: $4.575 billion - $4.845 billion
- Free Cash Flow: $2.170 billion - $2.570 billion
- Adjusted EPS: $2.56 - $2.71
- U.S. GAAP Net Cash provided by Operating Activities: $2.62 billion and $2.92 billion
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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