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Viatris (VTRS) investor relations material

Viatris Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary7 Aug, 2025

Executive summary

  • Q2 2025 revenues were $3.58B–$3.6B, down 6% year-over-year, but exceeded expectations excluding Indore impact.

  • Over $630M returned to shareholders YTD, including $350M in share repurchases and ~$280M in dividends.

  • Five positive Phase 3 data readouts in 2025, with key assets advancing in ophthalmology and acute pain.

  • Strategic review ongoing, targeting sustainable growth and commercial execution into 2026 and beyond.

  • $2.9B–$2.94B goodwill impairment in H1 2025 drove a six-month net loss of $3.0B–$3.05B.

Financial highlights

  • Q2 2025 total revenues: $3.58B–$3.6B, down 6% year-over-year; operational revenue up 3% ex-Indore.

  • Adjusted EBITDA for Q2 2025: $1.08B–$1.1B, down 11% year-over-year; adjusted EPS: $0.62, down 10%.

  • Free cash flow for Q2 2025: $167M ($241M excluding transaction costs).

  • Q2 2025 adjusted gross margin: 56.6%–57%.

  • Net loss for Q2 2025: $4.6M–$5M; six-month net loss: $3.0B–$3.05B.

Outlook and guidance

  • 2025 guidance reaffirmed: total revenues $13.5B–$14.0B, adjusted EBITDA $3.89B–$4.19B, adjusted EPS $2.16–$2.30.

  • Revenues, adjusted EBITDA, and EPS expected to be higher in H2 2025 due to Indore phasing, seasonality, and new launches.

  • Free cash flow guidance: $1.8B–$2.2B; adjusted gross margin 56–57%.

  • Expected to be in the top half of guidance ranges for revenue and adjusted EPS.

  • Guidance excludes potential impacts from future tariffs and trade restrictions.

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Frequently asked questions

The company provides medicines used to treat a range of therapeutic areas around the world, including cardiovascular, anti-virals, antibiotics, central nervous system, dermatologic, gastroenterology, immunosuppressant, oncology and pain, respiratory, and women's health products. Its treatments are available through its different medicines. The company was formerly known as Mylan N.V. Viatris Inc. was founded in 1961 and is headquartered in Canonsburg, Pennsylvania.

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