- Amneal Pharmaceuticals Inc (NYSE:AMRX) reported first-quarter FY23 revenue of $557.54 million, an increase of 12% year over year, beating the consensus of $537.31 million.
- Adjusted EPS was $0.12, beating the consensus of $0.10, and was flat Y/Y.
- The increase was driven by growth across all three segments with strong performance across complex Generics portfolio. In addition, growth of Rytary and Unithroid in Specialty, and continued expansion of AvKARE’s distribution channel boosted Q1.
- Adjusted EBITDA jumped 16% to $116 million, reflecting robust revenue performance and favorable operating expenses.
- As of March 31, 2023, the company held cash and equivalents worth $151.07 million.
- FY23 Outlook: Amneal has reiterated its guidance for FY23, with net revenue at $2.25 billion – $2.35 billion against the consensus of $2.32 billion.
- Adjusted EPS is expected to be $0.40 – $0.50 versus the consensus of $0.50.
- AMRX expects capital expenditures to be $50 million – $60 million.
- Price Action: AMRX shares are trading higher by 0.54% to $1.85 on the last check Friday.
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