Healthcare company Viatris Inc. (VTRS), while reporting a fourth-quarter profit compared to last year's loss, despite weak revenues, on Monday issued forecast for fiscal 2023, and declared dividend.
The company also reaffirmed 2024 Phase 2 outlook from November 7 strategic update.
For fiscal 2023, the company projects total revenues of $15.5 billion to $16 billion, with a midpoint of around $15.75 billion.
On average, 11 analysts polled by Thomson Reuters expect revenues of $15.57 billion for the year. Analysts' estimates typically exclude special items.
Adjusted EBITDA for the year is expected to be between $5 billion and $5.4 billion, with a midpoint of $5.2 billion.
In fiscal 2022, total revenues were $16.26 billion, and adjusted EBITDA was $5.78 billion.
The company said the guidance midpoint reflects revenue growth over 2022, excluding full-year impact of Biosimilars.
Further, Viatris announced that, on February 24, its Board of Directors approved a 2023 dividend policy of $0.48 per share and declared a quarterly dividend of $0.12. The dividend is payable on March 17, to shareholders of record at the close of business on March 9.
Viatris CFO Sanjeev Narula said, "We believe Viatris is in a very strong financial position to begin 2023. Despite all of the moving pieces and ongoing activities, we expect to deliver a solid 2023 and we remain confident in our outlook for 2024 and beyond. We expect to significantly increase the return of capital to shareholders in 2023 while continuing to pay down debt."
In pre-market activity on Nasdaq, Viatris shares were trading at $11.26, down 2.17 percent.
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