Amphastar Pharmaceuticals (AMPH) Tops Q1 Earnings Estimates

Core Insights - Amphastar Pharmaceuticals reported quarterly earnings of $0.74 per share, exceeding the Zacks Consensus Estimate of $0.66 per share, but down from $1.04 per share a year ago, indicating a 29% year-over-year decline in earnings [1] - The company posted revenues of $170.53 million for the quarter, missing the Zacks Consensus Estimate by 0.69% and down from $171.84 million a year ago, marking a slight revenue decrease [2] - Amphastar's stock has underperformed, losing approximately 35.7% year-to-date compared to the S&P 500's decline of 4.7% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.71, with expected revenues of $173.78 million, while the estimate for the current fiscal year is $3.14 on revenues of $738.05 million [7] - The trend of earnings estimate revisions for Amphastar is mixed, leading to a Zacks Rank of 3 (Hold), suggesting the stock is expected to perform in line with the market [6] Industry Context - The Medical - Generic Drugs industry, to which Amphastar belongs, is currently ranked in the top 19% of over 250 Zacks industries, indicating a favorable outlook compared to lower-ranked industries [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]