Amneal Pharmaceuticals, Inc. ( AMRX Quick Quote AMRX - Free Report) is scheduled to report second-quarter 2020 results on Aug 6, before market open.
The company has a mixed earnings surprise history, surpassing expectations in two of the trailing four quarters and missing in the other two. The four-quarter average surprise is 25.19%. In the last reported quarter, the company delivered an earnings surprise of 150%.
Shares of Amneal have decreased 10.2% in the year so compared with the the
industry’s decline of 6.5%.
Let's see how things are shaping up for this announcement.
Factors to Consider
Amneal’s revenues are likely to be boosted in the second quarter of 2020 by the AvKARE acquisition, completed in January 2020. Moreover, the recently launched generic products and growth of the company’s Specialty segment are likely to have contributed to revenues in the quarter to be reported.
The company’s generic business is doing well both at the base business and in terms of recent launches. The trend is expected to have continued in the second quarter.
The company remains on track to meet its target filing of 20 to 25 products in 2020. Many of these are potential first-to-market opportunities. At the end of the first quarter, the company had 95 products in the pipeline, awaiting FDA approval, and about 94 products in development. An update on these is expected in the second quarter.
Due to the COVID-19 pandemic, the company expects some impact on the business due to social distancing and patients postponing non-essential physician visits and procedures.These factors are also likely to have hurt sales of some of its generic drugs.
What Our Model Indicates
Our proven model does not conclusively predict an earnings beat for Amnealthis season. The combination of a positive
Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here as you will see below. Earnings ESP: Amneal has an Earnings ESP of -1.72%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. Zacks Rank: The company carries a Zacks Rank #4 (Sell). Stocks to Consider
Here are some biotech stocks that have the right mix of elements to beat on earnings this time around:
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ACAD Quick Quote ACAD - Free Report) has an Earnings ESP of +4.23% and a Zacks Rank #3. You can see . the complete list of today’s Zacks #1 Rank stocks here
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