Revenue Growth - Net revenue for the three months ended June 30, 2024, increased by 17.1% to $701.8 million compared to $599.0 million in the prior year period[195] - The Generics segment net revenue grew by $53.6 million, driven by new product launches, including biosimilars contributing $16.7 million and other new generics contributing $36.2 million[197] - The AvKARE segment net revenue increased by $42.1 million, primarily due to growth in distribution and government label channels from new product introductions[197] - The Specialty segment net revenue increased by $7.0 million, primarily due to a $9.4 million rise in the neurology portfolio, including $3.5 million from ONGENTYS® sales[197] - Net revenue for the three months ended June 30, 2024, increased by 7.3% to $104.041 million, driven by a $9.4 million increase in the promoted neurology portfolio[214] - Consolidated net revenue for the six months ended June 30, 2024, increased by 17.7% to $1.360 billion, primarily due to growth in the Generics segment[226] - Generics net revenue increased by 14.1% to $818.622 million, driven by new generic product launches and strong volume growth[238] - Specialty net revenue rose by 10.9% to $209.3 million for the six months ended June 30, 2024, driven by a $18.8 million increase in the neurology portfolio[245] - AvKARE net revenue surged by 33.0% to $333.1 million for the six months ended June 30, 2024, primarily due to growth in distribution channels[253] Profitability - Gross profit for the three months ended June 30, 2024, was $249.9 million, with a gross profit margin of 35.6%, down from 36.7% in the prior year[198] - Gross profit as a percentage of net revenue increased to 55.7% for the three months ended June 30, 2024, compared to 52.0% in the prior year period[215] - Generics gross profit margin improved to 38.8% for the six months ended June 30, 2024, up from 36.5% in the prior year[239] - Specialty gross profit margin increased to 56.5% for the six months ended June 30, 2024, compared to 52.5% in the prior year[246] - AvKARE gross profit margin improved to 15.6% for the six months ended June 30, 2024, up from 15.0% in the prior year[254] Expenses - Selling, general, and administrative expenses rose by 10.3% to $116.5 million, mainly due to increased employee compensation and promotional costs related to new product launches[199] - Research and development expenses decreased by 4.6% to $36.1 million, attributed to lower in-licensing and milestone payments[200] - Specialty SG&A expenses increased by 16.9% to $26.610 million, primarily due to promotional costs associated with ONGENTYS®[216] - R&D expenses decreased by 35.0% to $4.351 million, attributed to reduced project spending and infrastructure costs[217] - Generics SG&A expenses increased by 16.3% for the six months ended June 30, 2024, mainly due to employee compensation related to infrastructure expansion[240] - Specialty R&D expenses decreased by 28.8% to $9.3 million for the six months ended June 30, 2024, due to reduced project spending[248] Other Financial Metrics - Total other expense increased by 48.9% to $75.1 million, driven by a $14.9 million rise in interest expense and a $13.0 million increase in tax receivable agreement liability[202] - The provision for income taxes for the three months ended June 30, 2024, was $3.6 million, with an effective tax rate of 17.7%[203] - Total other expense for the six months ended June 30, 2024, increased by 48.3% to $(139.841) million, primarily due to higher interest expenses[233] - Charges related to legal matters for the six months ended June 30, 2024, amounted to $95.1 million, primarily associated with opioid-related settlements[232] Cash Flow and Capital Expenditures - Net cash provided by operating activities decreased to $35.2 million for the six months ended June 30, 2024, down 72.5% from $128.4 million in the prior year period[268] - Net cash used in investing activities increased to $26.2 million for the six months ended June 30, 2024, compared to $24.0 million in the prior year period, reflecting a rise of 9.2%[269] - Net cash used in financing activities rose significantly to $58.2 million for the six months ended June 30, 2024, an increase of 131.5% from $25.2 million in the prior year period[270] - The decrease in net operating cash flows was primarily due to lower collections of accounts receivable and the absence of a $21.4 million upfront payment received in the prior year[268] - The increase in cash used in investing activities was mainly due to a sales-based milestone payment related to a licensing agreement, partially offset by proceeds from the sale of a subsidiary[269] - The increase in cash used in financing activities was driven by a decrease in net debt of $55.1 million and increased payroll tax withholding on restricted stock units[270] - The company estimates capital expenditures of approximately $60.0 million to $70.0 million during 2024 to support operations[256] Company Outlook and Other Information - The Company expects to launch CREXONT®, a new drug for Parkinson's disease, in September 2024 following FDA approval[188] - As of June 30, 2024, there were no material changes to the company's contractual obligations as disclosed in the 2023 Annual Report[271] - The company reported no off-balance sheet arrangements as of June 30, 2024[272] - There have been no material changes in the company's assessment of market risk as outlined in the 2023 Annual Report[274] - The company has not disclosed any recently issued accounting standards that would materially affect its financial condition[274] - The company has access to $416.9 million under the Amended New Revolving Credit Facility as of June 30, 2024, which is deemed sufficient for planned operations[255]

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Q2 2024 Earnings Conference Call August 9, 2024 8:30 AM ET Company Participants Tony DiMeo - Head of Investor Relations Chirag Patel - President & Co-Chief Executive Officer Chintu Patel - Co-Chief Executive Officer Tasos Konidaris - Executive Vice President & Chief Financial Officer Joe Renda - Senior Vice President & Chief Commercial Officer, Specialty Conference Call Participants David Amsellem - Piper Sandler Leszek Sulewski - Truist Securities Operator Good mo ...

For the quarter ended June 2024, Amneal Pharmaceuticals (AMRX) reported revenue of $701.78 million, up 17.2% over the same period last year. EPS came in at $0.16, compared to $0.19 in the year-ago quarter.The reported revenue represents a surprise of +6.75% over the Zacks Consensus Estimate of $657.43 million. With the consensus EPS estimate being $0.14, the EPS surprise was +14.29%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wa ...

Have you been paying attention to shares of Amneal Pharmaceuticals (AMRX) ? Shares have been on the move with the stock up 7.2% over the past month. The stock hit a new 52-week high of $7.81 in the previous session. Amneal Pharmaceuticals has gained 28% since the start of the year compared to the 6.6% move for the Zacks Medical sector and the -2.9% return for the Zacks Medical - Drugs industry.What's Driving the Outperformance?The stock has a great record of positive earnings surprises, as it hasn't missed ...

Amneal Pharmaceuticals (AMRX) came out with quarterly earnings of $0.16 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to earnings of $0.19 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 14.29%. A quarter ago, it was expected that this pharmaceutical company would post earnings of $0.09 per share when it actually produced earnings of $0.14, delivering a surprise of 55.56%.Over the last four ...

Exhibit 99.2 AMNEAL REPORTS SECOND QUARTER 2024 FINANCIAL RESULTS ‒ Q2 2024 Net Revenue of $702 million; GAAP Net Income of $6 million; Diluted Income per Share of $0.02 ‒ ‒ Adjusted EBITDA of $162 million; Adjusted Diluted EPS of $0.16 ‒ ‒ Raising 2024 Full Year Guidance ‒ ‒ CREXONT U.S. FDA approval represents an exciting new long-term growth driver ‒ ® BRIDGEWATER, NJ, August 9, 2024 - Amneal Pharmaceuticals, Inc. (Nasdaq: AMRX) ("Amneal" or the "Company") announced its results today for the second quart ...

Wall Street analysts forecast that Amneal Pharmaceuticals (AMRX) will report quarterly earnings of $0.14 per share in its upcoming release, pointing to a year-over-year decline of 26.3%. It is anticipated that revenues will amount to $657.43 million, exhibiting an increase of 9.8% compared to the year-ago quarter.The consensus EPS estimate for the quarter has been revised 4.4% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated t ...

The market expects Amneal Pharmaceuticals (AMRX) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on August 9, 2024, might help the stock move higher if these key numb ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even ...

For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Amneal Pharmaceuticals (AMRX) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.Amneal Pharmaceuticals is one of 1024 companies in the Medical group. The ...