NYSE$AMRX

Amneal Pharmaceuticals Inc · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

Amneal's third quarter results reflect solid performance across its diversified portfolio, driven by new product innovation, leveraging key capabilities, and strong execution.

Amneal Pharmaceuticals reported its Q3 2022 financial results with net revenue of $546 million, a GAAP net loss of $3 million, and an adjusted EBITDA of $126 million. The company is maintaining its full year 2022 outlook.

  • Net revenue in Q3 2022 was $546 million, a 3.2% increase compared to Q3 2021.
  • GAAP Net loss attributable to Amneal Pharmaceuticals, Inc. was $3 million in Q3 2022 compared to a net loss of $4 million in Q3 2021.
  • Adjusted EBITDA in Q3 2022 was $126 million, a decrease of 5.1% compared to Q3 2021, reflective of investments to drive upcoming new product launches.
  • Diluted loss per share and adjusted diluted EPS in Q3 2022 were $(0.02) and $0.14, respectively, compared to $(0.03) and $0.21, respectively, in Q3 2021.

Headline financials

Total Revenue

$546M

Previous: $529M+3.2%
EPS (adj)

$0.14

Previous: $0.21-33.3%
Capital Expenditures

-$34.9M

Previous: -$30.2M-15.6%
Free Cash Flow

-$42.6M

Previous: -$38M-11.9%
Net Income

-$7.61M

Previous: -$7.78M+2.2%
Operating Income

$44.4M

Previous: $28.5M+55.5%
Gross Profit

$194M

Previous: $199M-2.2%
Cash & Equivalents

$87.3M

Previous: $303M-71.1%
Total Assets

$3.87B

Previous: $3.97B-2.5%
Stock-Based Comp

$7.69M

Previous: $7.71M-0.2%

Revenue & EPS history

Amneal · Revenue · Quarterly

$546M

Q3 2022+3.2%vs Q3 2021
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Revenue by segment

Amneal · $546M total across 3 segments · Q3 2022

  • Affordable Medicines
    $350M
  • AvKARE
    $106M+19.3%
  • Specialty
    $89.5M-3.5%

Forward guidance

The Company is maintaining its previously provided full year 2022 guidance.

Tailwinds

  • Net revenue $2.15 billion - $2.25 billion
  • Adjusted EBITDA $500 million - $520 million
  • Adjusted diluted EPS $0.65 - $0.70
  • Operating cash flow $200 million - $225 million
  • Capital expenditures $65 million - $75 million

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 2022

Historical avgQ3 2022

-0.6%

Avg return

Earnings day

-3.2%

Avg return

5 days after

+0.4%

Avg return

30 days after

54%

20 / 37 earnings

Positive

+36.6%

Q2 2023

Best reaction

-23.0%

Q3 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.7%-7.6%+0.9%
Q4 2025-4.6%-8.2%-18.2%
Q3 2025-4.1%+8.8%+20.0%
Q1 2025+3.0%-6.7%-5.4%
Q4 2024+3.5%+7.0%-1.2%
Q3 2024+6.9%+4.9%-1.9%
Q2 2024+12.9%+9.6%+21.9%
Q1 2024+7.1%+6.1%+7.6%
Q4 2023-2.2%-3.8%+9.8%
Q3 2023-3.6%+0.2%+11.4%
Q2 2023+36.6%+25.9%+25.6%
Q1 2023+9.8%-3.3%+38.6%
Q4 2022-8.1%-15.8%-33.5%
Q3 2022+13.0%+8.2%+16.8%
Q2 2022-9.5%-9.2%-36.4%
Q1 2022-11.5%-22.2%-13.0%
Q4 2021-7.0%-12.4%-3.4%
Q3 2021-12.5%-9.8%-29.0%
Q2 2021+4.5%+4.9%+6.6%
Q1 2021-8.1%-8.0%-5.5%
Q4 2020+5.9%+0.0%+40.1%
Q3 2020-15.0%-15.6%-14.6%
Q2 2020-16.3%-19.9%-30.7%
Q1 2020+20.3%+16.1%+42.5%
Q4 2019-20.4%-16.4%-37.0%
Q3 2019-23.0%-23.0%+7.0%
Q2 2019-8.0%-10.5%-18.5%
Q1 2019-20.7%-31.0%-41.8%
Q4 2018+8.4%+2.0%+13.8%
Q3 2018+5.1%+4.6%-9.1%
Q2 2018+0.6%+9.8%+19.4%
Q1 2018+1.5%+13.3%+30.2%
Q4 2017+4.4%
Q3 2017+5.9%
Q2 2017+1.5%
Q1 2017-3.2%
Q4 2016+2.3%

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