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Amneal Pharmaceuticals (AMRX - Free Report) reported second-quarter 2026 adjusted earnings of 30 cents per share, which beat the Zacks Consensus Estimate of 24 cents. Earnings increased 20% year over year, driven by strong performance across the company’s three business segments.
Total revenues of $796 million in the second quarter of 2026 increased 10% year over year. The top line also beat the Zacks Consensus Estimate of $768 million. The upside reflected strong growth across Affordable Medicines and Specialty and a favorable product mix.
Despite better-than-expected results, Amneal shares were down 3.1% yesterday following the announcement.
The stock has rallied 46.8% so far this year against the industry’s decline of 2.4%.
Image Source: Zacks Investment Research
AMRX’s Q2 Segment Performance
Affordable Medicines' second-quarter revenues were $490 million, up 13% year over year. Segment growth was driven by strength in the company’s broad-based complex portfolio, including Women's Health products, injectables and higher naloxone sales.
Specialty’s second-quarter revenues of $149 million grew 17% year over year, driven by continued momentum in Crexont, Unithroid and Brekiya. Sales of all these products came in ahead of management’s expectations.
AvKARE net revenues of $157 million declined 4% year over year as growth in the government channel was offset by a decline in the low-margin distribution channel during the quarter.
Adjusted research and development expenses decreased 17.7% year over year to $38.2 million in the second quarter of 2026, while adjusted selling, general and administrative expenses surged 19.6% year over year to $134.9 million.
As of June 30, 2026, Amneal had cash and cash equivalents worth $127.6 million compared with $197.7 million as of March 31, 2026.
AMRX 2026 Guidance Updated
Amneal raised its 2026 net revenue guidance from $3.05-$3.15 billion to $3.10-$3.20 billion.
The company now expects adjusted EBITDA of $750 million to $780 million, up from its earlier projection of $740 million to $770 million.
Adjusted EPS is now expected to be in the range of 96 cents to $1.06, up from its earlier estimate of 95 cents to $1.05.
Amneal Eyes Biosimilars Portfolio Expansion
In April 2026, Amneal announced a definitive agreement to acquire privately held biotech company Kashiv BioSciences for up to $1.10 billion. The transaction is expected to be closed in the second half of 2026, subject to customary closing conditions.
The pending Kashiv acquisition is expected to create a fully integrated biosimilars platform spanning development, clinical execution, regulatory capabilities and commercial supply. The combined pipeline will include more than 20 biosimilar programs.
Management believes biosimilars will become a durable long-term growth pillar, further diversifying the company's portfolio alongside its Affordable Medicines, Specialty and AvKARE businesses while strengthening its competitive position in the global biologics market.
AMNEAL PHARMACEUTICALS, INC. Price, Consensus and EPS Surprise
Over the past 60 days, estimates for Harmony Biosciences’ 2026 earnings per share have risen from $3.20 to $3.30, while estimates for 2027 have increased from $3.64 to $3.87 during the same time. HRMY shares have lost 4.2% year to date.
Harmony Biosciences’ earnings missed estimates in each of the trailing four quarters, with the average negative surprise being 25.16%.
Over the past 60 days, estimates for Repligen’s 2026 earnings per share have risen from $1.99 to $2.03, while estimates for 2027 have increased from $2.43 to $2.44 during the same time. RGEN shares have declined 12.3% year to date.
Repligen’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 16.80%.
Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have risen from $2.97 to $3.02, while estimates for 2027 have increased from $4.81 to $5.31 during the same time. LQDA shares have surged 151.7% year to date.
Liquidia’s earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 54.40%.
View the Zacks #1 Rank List
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AMRX Down Despite Q2 Earnings Beat, 2026 Revenue Outlook Raised
Key Takeaways
Amneal Pharmaceuticals (AMRX - Free Report) reported second-quarter 2026 adjusted earnings of 30 cents per share, which beat the Zacks Consensus Estimate of 24 cents. Earnings increased 20% year over year, driven by strong performance across the company’s three business segments.
Total revenues of $796 million in the second quarter of 2026 increased 10% year over year. The top line also beat the Zacks Consensus Estimate of $768 million. The upside reflected strong growth across Affordable Medicines and Specialty and a favorable product mix.
Despite better-than-expected results, Amneal shares were down 3.1% yesterday following the announcement.
The stock has rallied 46.8% so far this year against the industry’s decline of 2.4%.
Image Source: Zacks Investment Research
AMRX’s Q2 Segment Performance
Affordable Medicines' second-quarter revenues were $490 million, up 13% year over year. Segment growth was driven by strength in the company’s broad-based complex portfolio, including Women's Health products, injectables and higher naloxone sales.
Specialty’s second-quarter revenues of $149 million grew 17% year over year, driven by continued momentum in Crexont, Unithroid and Brekiya. Sales of all these products came in ahead of management’s expectations.
AvKARE net revenues of $157 million declined 4% year over year as growth in the government channel was offset by a decline in the low-margin distribution channel during the quarter.
Adjusted research and development expenses decreased 17.7% year over year to $38.2 million in the second quarter of 2026, while adjusted selling, general and administrative expenses surged 19.6% year over year to $134.9 million.
As of June 30, 2026, Amneal had cash and cash equivalents worth $127.6 million compared with $197.7 million as of March 31, 2026.
AMRX 2026 Guidance Updated
Amneal raised its 2026 net revenue guidance from $3.05-$3.15 billion to $3.10-$3.20 billion.
The company now expects adjusted EBITDA of $750 million to $780 million, up from its earlier projection of $740 million to $770 million.
Adjusted EPS is now expected to be in the range of 96 cents to $1.06, up from its earlier estimate of 95 cents to $1.05.
Amneal Eyes Biosimilars Portfolio Expansion
In April 2026, Amneal announced a definitive agreement to acquire privately held biotech company Kashiv BioSciences for up to $1.10 billion. The transaction is expected to be closed in the second half of 2026, subject to customary closing conditions.
The pending Kashiv acquisition is expected to create a fully integrated biosimilars platform spanning development, clinical execution, regulatory capabilities and commercial supply. The combined pipeline will include more than 20 biosimilar programs.
Management believes biosimilars will become a durable long-term growth pillar, further diversifying the company's portfolio alongside its Affordable Medicines, Specialty and AvKARE businesses while strengthening its competitive position in the global biologics market.
AMNEAL PHARMACEUTICALS, INC. Price, Consensus and EPS Surprise
AMNEAL PHARMACEUTICALS, INC. price-consensus-eps-surprise-chart | AMNEAL PHARMACEUTICALS, INC. Quote
AMRX’s Zacks Rank & Stocks to Consider
Amneal currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Harmony Biosciences (HRMY - Free Report) , Repligen (RGEN - Free Report) and Liquidia Corporation (LQDA - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Harmony Biosciences’ 2026 earnings per share have risen from $3.20 to $3.30, while estimates for 2027 have increased from $3.64 to $3.87 during the same time. HRMY shares have lost 4.2% year to date.
Harmony Biosciences’ earnings missed estimates in each of the trailing four quarters, with the average negative surprise being 25.16%.
Over the past 60 days, estimates for Repligen’s 2026 earnings per share have risen from $1.99 to $2.03, while estimates for 2027 have increased from $2.43 to $2.44 during the same time. RGEN shares have declined 12.3% year to date.
Repligen’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 16.80%.
Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have risen from $2.97 to $3.02, while estimates for 2027 have increased from $4.81 to $5.31 during the same time. LQDA shares have surged 151.7% year to date.
Liquidia’s earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 54.40%.