Lantheus Holdings, Inc · Q2 2020 earnings

Briefing

Reported a decrease in revenue compared to the prior year period and completed the acquisition of Progenics Pharmaceuticals, Inc.

Lantheus Holdings, Inc. reported a decrease in worldwide revenue of 23.0% compared to the prior year period. The company had a net loss of $7.0 million, or $(0.16) per fully diluted share, as compared to net income of $6.4 million, or $0.16 per fully diluted share for the second quarter of 2019. They completed the acquisition of Progenics in June.

• Completed acquisition of Progenics Pharmaceuticals, Inc., adding robust portfolio of oncology therapeutics and diagnostics to pipeline
• Worldwide revenue of $66.0 million for the second quarter 2020, representing a decrease of 23.0% from the prior year period
• Net loss of $7.0 million for the second quarter 2020, compared to net income of $6.4 million in the prior year period
• GAAP diluted EPS of $(0.16) for the second quarter 2020, compared to GAAP diluted EPS of $0.16 in the prior year period; adjusted diluted EPS of $0.10 for the second quarter 2020, compared to adjusted diluted EPS of $0.27 in the prior year period

Headline financials

Revenue & EPS history

The Company withdrew full year 2020 revenue, revenue growth, and adjusted fully diluted earnings per share guidance as a result of the continued uncertainties surrounding the scope, duration and impacts of the COVID-19 pandemic. Lantheus continues to be unable to provide guidance as to the overall impacts on its operations and financial results during the ongoing pandemic.