NASDAQ$AMPH

Amphastar Pharmaceuticals Inc · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Reported record sales driven by glucagon, Primatene Mist, and epinephrine products.

Amphastar Pharmaceuticals reported a strong third quarter with net revenues of $112.2 million, a 34% increase compared to the same period last year. GAAP net income was $29.5 million, or $0.59 per share, while adjusted non-GAAP net income was $23.0 million, or $0.46 per share.

  • Net revenues reached $112.2 million for the third quarter.
  • GAAP net income was $29.5 million, or $0.59 per share, for the third quarter.
  • Adjusted non-GAAP net income was $23.0 million, or $0.46 per share, for the third quarter.
  • Growth was driven by glucagon, Primatene Mist®, and epinephrine products.

Headline financials

Total Revenue

$112M

Previous: $83.4M+34.5%
EPS (adj)

$0.46

Previous: $0.15+206.7%
Gross Margin

46.0%

Previous: 44.0%+4.5%
Capital Expenditures

-$20.6M

Previous: -$24.5M+16.1%
Free Cash Flow

$8.97M

Previous: -$20.6M+143.5%
Net Income

$29.5M

Previous: $3.92M+654.0%
Operating Income

$24.8M

Previous: $3.52M+604.3%
Gross Profit

$51.2M

Previous: $36.5M+40.2%
Cash & Equivalents

$107M

Previous: $87.9M+21.3%
Total Assets

$652M

Previous: $614M+6.2%
Stock-Based Comp

$3.92M

Previous: $4.37M-10.3%

Revenue & EPS history

Amphastar · Revenue · Quarterly

$112M

Q3 2021+34.5%vs Q3 2020
Beat estimate in 15 of 16 quarters(94%)
ActualEstimate

Revenue by segment

Amphastar · $54.3M total across 4 segments · Q3 2021

  • Primatene MIST®
    $16.6M+27.5%
  • Epinephrine
    $13.9M+158.7%
  • Glucagon
    $12.2M
  • Lidocaine
    $11.6M+9.3%

Forward guidance

The company expects glucagon, Primatene Mist®, and epinephrine products to continue to be the primary drivers of growth until further approvals for products in their pipeline are received, which they project will happen in 2022.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2021

Historical avgQ3 2021

+0.4%

Avg return

Earnings day

-1.1%

Avg return

5 days after

+1.3%

Avg return

30 days after

52%

27 / 52 earnings

Positive

+14.3%

Q3 2016

Best reaction

-23.8%

Q1 2018

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.4%-26.8%-17.4%
Q4 2025-23.5%-24.7%-28.2%
Q3 2025-4.4%+7.3%+5.8%
Q1 2025+0.9%-2.3%+6.4%
Q4 2024-9.7%-10.9%-9.7%
Q3 2024-10.6%-5.8%-15.1%
Q2 2024+11.8%+9.8%+15.2%
Q1 2024-0.8%-0.9%-4.8%
Q4 2023-16.0%-15.8%-20.8%
Q3 2023+13.9%+16.4%+23.4%
Q2 2023-1.4%-13.3%-18.8%
Q1 2023+13.1%+14.3%+26.0%
Q4 2022+12.6%+11.2%+16.1%
Q3 2022-8.3%-4.9%-0.9%
Q2 2022-12.8%-14.0%-22.6%
Q1 2022+3.9%+8.0%+17.1%
Q4 2021+14.0%+15.4%+36.7%
Q3 2021+3.4%+6.1%+6.0%
Q2 2021+0.0%-3.5%-7.8%
Q1 2021+4.1%+5.7%+4.7%
Q4 2020-4.8%-6.7%-10.1%
Q3 2020-7.9%-5.3%-8.1%
Q2 2020-4.5%-5.7%-5.5%
Q1 2020+8.4%+6.9%+12.6%
Q4 2019-7.3%-5.2%+7.6%
Q3 2019-3.5%-7.6%-0.8%
Q2 2019+7.7%+5.5%+10.5%
Q1 2019-0.4%-6.7%-10.7%
Q4 2018-12.8%-14.7%-11.6%
Q3 2018+12.2%+10.2%+14.2%
Q2 2018-3.5%-1.0%+8.3%
Q1 2018-23.8%-16.1%-13.2%
Q4 2017+6.3%+4.0%+0.4%
Q3 2017+5.1%-0.2%+3.2%
Q2 2017-2.4%-5.6%+0.3%
Q1 2017-1.8%+8.1%+13.0%
Q4 2016-16.6%-6.0%+1.0%
Q3 2016+14.3%+16.6%+11.2%
Q2 2016+12.4%+13.3%+19.2%
Q1 2016+10.8%
Q4 2015+11.9%
Q3 2015+10.7%
Q2 2015-2.6%
Q1 2014+0.4%
Q1 2015+7.0%
Q4 2012+7.0%
Q1 2013+7.0%
Q4 2014-6.1%
Q3 2014+7.0%
Q2 2013-0.7%
Q4 2013-0.7%
Q2 2014+1.5%
Q3 2013

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