Amneal Pharmaceuticals (AMRX) investor relations material

Executive summary

• Seventh consecutive year of growth; Q3 revenue rose 10.0% to $862.7M, adjusted EBITDA 29.7% to $207M and adjusted diluted EPS 52.9% to $0.26.

• FY26 revenue, adjusted EBITDA and adjusted EPS guidance increased for a third time, supported by Specialty, Affordable Medicines and product launches.

• Kashiv acquisition added biosimilar development, manufacturing and commercial capabilities; integration was progressing well.

Financial highlights

• Nine-month revenue was $2.381B, up 8.0%; adjusted EBITDA was $615.5M, up 19.9%; adjusted diluted EPS was $0.83, up 33.9%.

• Q3 GAAP net loss attributable was $21.7M versus $2.4M income; diluted loss per share was $0.06 versus EPS of $0.01, reflecting acquisition costs, taxes, share count and redeemable-interest accretion.

• Q3 operating cash flow was $98M versus $118M; nine-month operating cash flow was $50.3M versus $209.7M, pressured by working capital, collections, opioid settlement and tax-receivable payments.

Outlook and guidance

• FY26 revenue guidance rose to $3.15B–$3.25B; adjusted EBITDA to $800M–$815M; adjusted diluted EPS to $1.04–$1.08.

• FY26 operating cash flow guidance is $325M–$375M, or $350M–$400M excluding discrete items; both ranges were reduced for working-capital needs. Capital expenditures are estimated at $150M.

• 2030 targets include revenue of $4.25B–$4.5B, adjusted EBITDA of $1.15B–$1.25B and adjusted EPS of $1.65–$1.85; net leverage target is below 3x by 2028.

• 2027 growth catalysts include Women's Health patches, biosimilars, injectables such as lanreotide, CREXONT and BREKIYA autoinjector.

• Guidance excludes estimated opioid settlement costs of ~$36M and Kashiv acquisition and integration costs of ~$40M.