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Jun 30, 2023
Amneal Q2 2023 Earnings Report
Reported strong Q2 2023 results, driven by generics growth and AvKARE expansion, and raised full year 2023 guidance.
Key Takeaways
Amneal Pharmaceuticals, Inc. reported net revenue of $599 million for Q2 2023, a 7% increase compared to Q2 2022. GAAP net income was $12 million, with diluted EPS of $0.08. The company raised its full year 2023 guidance, expecting continued growth across its diversified portfolio.
Net revenue increased by 7% to $599 million compared to the second quarter of 2022.
Net income attributable to Amneal Pharmaceuticals, Inc. was $12 million, a significant improvement from the net loss of $121 million in the second quarter of 2022.
Adjusted EBITDA increased by 9% to $146 million compared to the second quarter of 2022.
The company raised its full year 2023 guidance for net revenue, adjusted EBITDA, and adjusted diluted EPS.
Amneal
Amneal
Amneal Revenue by Segment
Revenue by Segment
Affordable Medicines Revenue
CapyFin.comSpecialty Revenue
CapyFin.comAvKARE Revenue
CapyFin.com Forward Guidance
The Company is raising its previously provided full year 2023 guidance.
Positive Outlook
- Net revenue $2.30 billion - $2.40 billion
- Adjusted EBITDA $525 million - $540 million
- Adjusted diluted EPS $0.45 - $0.55
- Operating cash flow $220 million - $250 million
- Capital expenditures $50 million - $60 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income