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Dec 31, 2019
Amneal Q4 2019 Earnings Report
Amneal's financial performance decreased due to lower revenue and gross margins, partially offset by cost savings.
Key Takeaways
Amneal Pharmaceuticals reported a decrease in net revenue and earnings for Q4 2019 compared to the prior year period. Net revenue was $397 million, a decrease of 20%. Net loss was $32 million, and diluted EPS was a loss of $0.23. Adjusted EBITDA was $81 million, and adjusted diluted EPS was $0.08.
Net revenue decreased by 20% to $397 million due to lower Generics business revenue.
Net loss attributable to Amneal Pharmaceuticals was $32 million compared to a net loss of $9 million in the prior year period.
Adjusted EBITDA decreased by 57% to $81 million due to lower revenue and gross margins.
Adjusted diluted EPS was $0.08, compared to $0.33 for the prior year period.
Revenue by Segment
Forward Guidance
Amneal's full year 2020 estimates, which include the impact of our January 31, 2020 transaction with AvKARE, Inc. and its related affiliate doing business as R&S Northeast LLC, are based on management's current expectations, including with respect to prescription trends, pricing levels, inventory levels, the costs incurred and benefits realized of restructuring activities and the anticipated timing of future product launches and events.
Positive Outlook
- Net revenue $1,875 million - $1,975 million
- Adjusted gross margin 44% - 46%
- Adjusted EBITDA $400 million - $450 million
- Adjusted diluted EPS $0.45 - $0.60
- Operating cash flow $150 million - $200 million
Challenges Ahead
- Capital expenditures $60 million - $70 million
- Weighted average diluted shares outstanding Approximately 300 million
- The Company cannot provide a reconciliation between non-GAAP projections and the most directly comparable GAAP measures without unreasonable efforts because it is unable to predict with reasonable certainty the ultimate outcome of certain significant items required for the reconciliation.
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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