Medication company Viatris (NASDAQ:VTRS) will be announcing earnings results this Thursday before the bell. Here’s what investors should know.
Viatris beat analysts’ revenue expectations last quarter, reporting revenues of $3.70 billion, up 5% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ revenue estimates and full-year revenue guidance exceeding analysts’ expectations.
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 2.7% year on year, a reversal from the 11.2% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to 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 Q1 results, giving us a hint as to what we can expect. Eli Lilly delivered year-on-year revenue growth of 55.5%, beating analysts’ expectations by 13.7%, and Supernus Pharmaceuticals reported revenues up 38.6%, topping estimates by 7.7%. Eli Lilly traded up 13.2% following the results.
Read our full analysis of Eli Lilly’s results here and Supernus Pharmaceuticals’s results here.
There has been positive sentiment among investors in the pharmaceuticals segment, with share prices up 6.5% on average over the last month. Viatris is up 14.3% during the same time and is heading into earnings with an average analyst price target of $15.94 (compared to the current share price of $15.32).
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