Amneal Pharmaceuticals, Inc. (AMRX) on Tuesday revised up its annual earnings outlook in line with estimates after strong second-quarter results.
The company now expects adjusted income per share of $0.70 to $0.75, higher than the previous expectation of $0.65 to $0.70 per share.
On average, four analysts polled forecast the firm to earn $0.71 per share for the year. Analysts' estimates typically exclude special items.
Excluding items, EBITDA is now projected to be $665 million to $685 million, compared with $650 million to $675 million previously.
Amneal has reaffirmed its annual revenue guidance of $3 billion to $3.1 billion. The company has also confirmed its full-year capital expenditure guidance of around $100 million.
For the second quarter, Amneal registered a net income of $22.417 million, or $0.07 per share, higher than $5.994 million, or $0.02 per share, in the same period last year.
Revenue was $724.508 million, up from the previous year's $701.780 million.
AMRX was up by 4.27% at $8.30 in the pre-market trade on the Nasdaq.
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