Viatris(US:VTRS) ZACKS·2024-08-08 14:56Core Viewpoint - Viatris Inc. reported second-quarter 2024 adjusted earnings of 69 cents per share, slightly exceeding expectations, but total revenues fell short of estimates, reflecting a mixed performance amid ongoing divestitures and market challenges [1][2][11]. Financial Performance - Adjusted earnings per share for Q2 2024 were 69 cents, compared to 75 cents in the same quarter last year [1]. - Total revenues reached $3.79 billion, a decrease of 3.1% year-over-year on a divestiture-adjusted operational basis, missing the Zacks Consensus Estimate of $3.81 billion [1][2]. - Sales from Developed Markets were $2.3 billion, up 1% year-over-year but below the consensus estimate of $2.38 billion [3]. - Emerging Markets generated $578.1 million in sales, reflecting a 7% increase but also missing the estimate of $606 million [3]. - Sales from Greater China totaled $539 million, up 5% and exceeding the estimate of $527 million [4]. Product Performance - Revenues from Brands increased by 2% to $2.4 billion, driven by growth in Greater China and Emerging Markets, despite challenges in North America and regulatory impacts in Japan and Australia [5]. - Generics revenues were $1.4 billion, up 2%, supported by strong new product launches and performance in Europe [7]. - New generic product revenues reached $210 million, leading to an updated projection of $500-$600 million for 2024 [8]. Guidance and Strategic Adjustments - The company updated its total revenue guidance for 2024 to a range of $14.6-$15.1 billion, down from the previous estimate of $14.98-$15.48 billion [9]. - Adjusted earnings per share guidance for 2024 was revised to $2.58-$2.73, lower than the earlier estimate of $2.66-$2.81 [10]. - The completion of divestitures is expected to enhance financial strength and support growth and shareholder returns [11].