Viatris Sees 2024 Revenue Growth Of Approx. 2% On Divestiture-adj. Operational Basis - Update

(RTTNews) - (Adds guidance, detailed Q2 results)

Viatris Inc. (VTRS) said, for 2024, the company now expects adjusted EPS in a range of $2.58 - $2.73, revised from prior guidance range of $2.66 - $2.81. Total revenues are now expected in a range of $14.60 billion - $15.10 billion, revised from prior guidance of $14.98 billion - $15.48 billion. The company expects 2024 total revenues growth of approximately 2% on a divestiture-adjusted operational basis. Viatris stated that, with the substantial completion of divestitures, it has increased financial strength and has a strong foundation from which to accelerate growth and shareholder return.

Q2 Results:

Second quarter net loss was $326.4 million compared to profit of $264.0 million, last year. Loss per share was $0.27 compared to profit of $0.22. Adjusted EPS was $0.69 compared to $0.75. Adjusted EPS increased approximately 3% on a divestiture-adjusted basis. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.68, for the quarter. Analysts' estimates typically exclude special items.

Second quarter total net sales were $3.8 billion, up approximately 2% on a divestiture-adjusted operational basis, with divestiture-adjusted operational net sales growth across all segments. Net sales were $3.79 billion compared to $3.91 billion, last year. Analysts on average had estimated $3.78 billion in revenue.

Shares of Viatris are up 3% in pre-market trade on Thursday.

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