Medication company Viatris (NASDAQ:VTRS) will be announcing earnings results this Thursday before market hours. Here’s what investors should know.
Viatris beat analysts’ revenue expectations last quarter, reporting revenues of $3.76 billion, up 4.9% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ full-year EPS guidance estimates.
Is Viatris a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Viatris’s revenue to grow 1% year on year, in line with its flat revenue from the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Viatris has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Viatris’s peers in the pharmaceuticals segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Amneal delivered year-on-year revenue growth of 10%, beating analysts’ expectations by 6.3%, and Eli Lilly reported revenues up 38.6%, topping estimates by 7.9%. Eli Lilly traded up 9.8% following the results.
Read our full analysis of Amneal’s results here and Eli Lilly’s results here.
There has been positive sentiment among investors in the pharmaceuticals segment, with share prices up 2.8% on average over the last month. Viatris is up 6.9% during the same time and is heading into earnings with an average analyst price target of $20 (compared to the current share price of $18.84).
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