Pharmaceutical company Amneal Pharmaceuticals (NASDAQ: AMRX) will be reporting results this Thursday before the bell. Here’s what to look for.
Amneal missed analysts’ revenue expectations by 2.5% last quarter, reporting revenues of $724.5 million, up 3.2% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates but a significant miss of analysts’ revenue estimates.
Is Amneal a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Amneal’s revenue to grow 9.4% year on year to $768.2 million, slowing from the 13.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.14 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Amneal has missed Wall Street’s revenue estimates three times over the last two years.
With Amneal being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for pharmaceuticals stocks. However, there has been positive investor sentiment in the segment, with share prices up 6.1% on average over the last month. Amneal is up 6.3% during the same time and is heading into earnings with an average analyst price target of $12.50 (compared to the current share price of $10.49).
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