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Mar 31, 2022
Amneal Q1 2022 Earnings Report
Amneal's first quarter results were announced, showing a slight revenue increase and a net loss, but progress was made in expanding into high-growth areas like biosimilars and injectables.
Key Takeaways
Amneal Pharmaceuticals reported a 1% increase in net revenue to $498 million for Q1 2022 compared to $493 million in Q1 2021. However, the company experienced a net loss of $2 million, a decrease compared to the net income of $7 million in the same quarter of the previous year. Adjusted diluted EPS was $0.12, down from $0.17 in Q1 2021. The company is maintaining its full-year 2022 financial outlook.
Net revenue increased by 1% to $498 million compared to the previous year.
GAAP net loss was $2 million, compared to a net income of $7 million in the first quarter of 2021.
Adjusted EBITDA was $100 million, including $5 million of R&D milestone expense.
Adjusted diluted EPS was $0.12, compared to $0.17 in the first quarter of 2021.
Amneal
Amneal
Amneal Revenue by Segment
Revenue by Segment
Affordable Medicines Revenue
CapyFin.comSpecialty Revenue
CapyFin.comAvKARE Revenue
CapyFin.com Forward Guidance
Amneal is maintaining its previously provided guidance.
Positive Outlook
- Net revenue $2.15 billion - $2.25 billion
- Adjusted EBITDA $540 million - $560 million
- Adjusted diluted EPS $0.80 - $0.85
- Operating cash flow $225 million - $250 million
- Weighted average diluted shares outstanding Approximately 307 million
Challenges Ahead
- Capital expenditures $75 million - $85 million
- 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 and other gains and losses.
- These items are uncertain, depend on various factors, and could have a material impact on GAAP reported results.
- 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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income