Amneal Pharmaceuticals(US:AMRX)2025-10-30 10:19Financial Performance - Q3 2025 net revenue was $785 million, a 12% increase from $702 million in Q3 2024[3] - Adjusted EBITDA for Q3 2025 was $160 million, reflecting a 1% increase compared to Q3 2024[5] - The company reported a net income of $2 million in Q3 2025, compared to a net loss of $0.2 million in Q3 2024[4] - Adjusted diluted EPS for Q3 2025 was $0.17, a 6% increase from $0.16 in Q3 2024[6] - Net revenue for Q3 2025 was $784.5 million, a 11.7% increase from $702.5 million in Q3 2024[26] - Gross profit for Q3 2025 was $274.0 million, compared to $269.6 million in Q3 2024, reflecting a slight increase[26] - Operating income for Q3 2025 decreased to $70.3 million from $88.8 million in Q3 2024, a decline of 20.7%[26] - Net income for the three months ended September 30, 2025, was $18,132,000, compared to $11,757,000 for the same period in 2024, representing a 54.5% increase[33] - Adjusted EBITDA for the nine months ended September 30, 2025, was $513,213,000, up from $472,185,000 in 2024, reflecting an 8.7% growth[33] - Operating income for the nine months ended September 30, 2025, was $298,802, significantly higher than $178,207 reported in 2024[47] Revenue Segments - Specialty net revenue increased by 8%, driven by key branded products including CREXONT® and UNITHROID®[3] - Affordable Medicines net revenue also rose by 8%, supported by strong performance in the complex product portfolio and new product launches[3] - The Specialty Segment reported net revenue of $361,580 for the nine months ended September 30, 2025, compared to $324,913 in 2024, marking a 11.2% increase[53] - The AvKARE Segment achieved net revenue of $198,532 for the three months ended September 30, 2025, compared to $159,485 in 2024, representing a growth of 24.5%[56] Guidance and Projections - Updated full-year 2025 guidance for net revenue is projected between $3.0 billion and $3.1 billion[8] - Adjusted EBITDA guidance for 2025 is revised to $675 million - $685 million, up from the previous range of $665 million - $685 million[8] - The company is entering a significant new product launch cycle, with multiple complex approvals and key launches expected ahead[2] Cash Flow and Assets - Cash and cash equivalents increased to $201.2 million as of September 30, 2025, up from $110.6 million at the end of 2024[29] - Total current assets rose to $1.84 billion as of September 30, 2025, compared to $1.59 billion at the end of 2024[29] - Net cash provided by operating activities for the nine months ended September 30, 2025, was $209.7 million, an increase from $177.0 million in the same period of 2024[31] - Total assets as of September 30, 2025, were $3.60 billion, up from $3.50 billion at the end of 2024[29] Debt and Leverage - Long-term debt increased to $2.57 billion as of September 30, 2025, compared to $2.16 billion at the end of 2024[29] - Net debt as of September 30, 2025, was $2,498,751,000, slightly up from $2,474,283,000 at the end of 2024[35] - The net leverage ratio decreased to 3.7x as of September 30, 2025, from 3.9x at the end of 2024[35] - Total gross debt as of September 30, 2025, was $2,700,000,000, an increase from $2,584,835,000 at the end of 2024[35] Expenses - Research and development expenses for the three months ended September 30, 2025, were $55,124,000, compared to $57,099,000 in 2024[42] - Research and development expenses for the nine months ended September 30, 2025, were $23,353, an increase from $13,276 in 2024[53] - Selling, general and administrative expenses for the nine months ended September 30, 2025, were $94,872, compared to $79,529 in 2024[53] Other Financial Metrics - The company reported a basic net income per share of $0.01 for Q3 2025, compared to a loss per share of $0.00 in Q3 2024[27] - The company incurred a loss on refinancing of $31,365,000 for the three months ended September 30, 2025[37] - The company reported a net income attributable to non-controlling interests of $15,763,000 for the three months ended September 30, 2025[37] - Gross profit for the nine months ended September 30, 2025, was $533,132, resulting in a gross margin of 40.7%, compared to a gross profit of $495,800 and a gross margin of 39.8% in 2024[47] - Gross profit for the three months ended September 30, 2025, was $51,432, with a gross margin of 41.1%, compared to $63,296 and a gross margin of 54.7% in 2024[49]