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Amneal's Q3 adjusted EPS rose 52.9% to 26 cents, while revenues increased 10% to $862.6 million.
Affordable Medicines and Specialty revenues rose 19% and 20% y/y, respectively, on launches & strong demand.
Amneal raised 2026 guidance on sustained business strength and growth prospects.
Amneal Pharmaceuticals (AMRX - Free Report) reported third-quarter 2026 adjusted earnings of 26 cents per share, beating the Zacks Consensus Estimate of 24 cents. Earnings increased 53% year over year.
Total revenues of $862.6 million in the third quarter of 2026 increased 10% year over year. The top line also topped the Zacks Consensus Estimate of $818 million. The upside reflected strong growth across Affordable Medicines and Specialty.
Year to date, the stock has rallied 60.4% against the industry’s 3.2% decline.
Image Source: Zacks Investment Research
AMRX’s Q3 Segment Performance
Affordable Medicines' third-quarter revenues were $547.1 million, up 19% year over year. Growth was driven by strong demand for women's health patches, biosimilars and new product launches. New launches contributed $54 million, while the favorable timing of a large biosimilar customer order added approximately $40 million.
Specialty's third-quarter revenues of $150.3 million increased 20% year over year, driven by continued momentum in Crexont, Brekiya autoinjector and Unithroid. Management highlighted strong prescription trends and growing physician adoption of these products.
AvKARE net revenues of $165.3 million declined 16.7% year over year. The decline primarily reflected a large cardiovascular product launch in the year-ago quarter that did not recur.
Amneal's Q3 Expenses & Margins
Adjusted research and development expenses decreased 11.7% year over year to $53.7 million in the third quarter of 2026. Adjusted selling, general and administrative expenses remained nearly flat at $126.6 million.
As of Sept. 30, 2026, Amneal had cash and cash equivalents worth $157.4 million compared with $127.6 million as of June 30, 2026.
AMRX 2026 Guidance Updated
Amneal raised its 2026 net revenue guidance marginally from $3.10-$3.20 billion to $3.15-$3.25 billion, reflecting continued strength across its key businesses.
The company expects adjusted EBITDA of $800 million to $815 million, up from its earlier projection of $750 million to $780 million.
Adjusted EPS is expected in the range of $1.04-$1.08, up from its earlier estimate of 96 cents to $1.06.
Management expects strong growth momentum to continue into 2027, supported by new launches, expanding biosimilar opportunities and growing demand for specialty medicines.
Amneal's Recent Product & Pipeline Developments
In September, Amneal received FDA approval for its complex generic injectable lanreotide for the treatment of acromegaly, advanced gastro-enteropancreatic neuroendocrine tumors and carcinoid syndrome. The product was launched late in the quarter and generated about $7 million in revenues. Management expects a significantly higher contribution in the fourth quarter as demand increases.
AMRX also secured approvals for romidepsin ready-to-use injection, sodium bicarbonate IV bags and additional strengths and presentations of iohexol. The company is advancing more complex injectable, inhalation and long-acting drug programs, with further launches expected between 2027 and 2029.
AMRX Expands Its Biosimilars Portfolio
In August, Amneal completed its acquisition of Kashiv BioSciences, strengthening its capabilities in biosimilar development, manufacturing and commercialization. Management stated that integration is progressing well and expects biosimilars to become a major long-term growth driver.
The company is preparing to launch its denosumab biosimilars in mid-2027. It also expects to introduce its Xolair biosimilar in the second half of 2027, subject to regulatory and patent-related requirements.
Separately, Amneal continues to advance its GLP-1 collaboration with Pfizer. Construction of dedicated manufacturing facilities remains on track, with commercial production expected to begin around 2028-2029.
AMNEAL PHARMACEUTICALS, INC. Price, Consensus and EPS Surprise
Over the past 30 days, earnings per share estimates for TG Therapeutics have risen from 92 cents to 94 cents for 2026. Over the same period, estimates for 2027 earnings per share have increased from $2.65 to $2.66. TGTX’s shares have risen 103.8% year to date.
TG Therapeutics’ earnings missed estimates in three of the trailing four quarters and beat in the remaining one, with an average surprise of 184.65%.
Over the past 30 days, loss per share estimates for ImmunityBio remain unchanged at 97 cents for 2026. Over the same period, estimates for 2027 loss per share have improved from 14 cents to 11 cents. IBRX’s shares have surged 318.7% year to date.
ImmunityBio’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 13.40%.
Over the past 30 days, loss per share estimates for Iovance Biotherapeutics remain unchanged at 45 cents and 22 cents for 2026 and 2027, respectively. IOVA shares have skyrocketed 223.4% year to date.
Iovance Biotherapeutics beat estimates in three of the trailing four quarters and met in the remaining one, with the average surprise being 16.82%.
View the Zacks #1 Rank List
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AMRX Q3 Earnings & Sales Beat Estimates, FY'26 Guidance Raised
Key Takeaways
Amneal Pharmaceuticals (AMRX - Free Report) reported third-quarter 2026 adjusted earnings of 26 cents per share, beating the Zacks Consensus Estimate of 24 cents. Earnings increased 53% year over year.
Total revenues of $862.6 million in the third quarter of 2026 increased 10% year over year. The top line also topped the Zacks Consensus Estimate of $818 million. The upside reflected strong growth across Affordable Medicines and Specialty.
Year to date, the stock has rallied 60.4% against the industry’s 3.2% decline.
Image Source: Zacks Investment Research
AMRX’s Q3 Segment Performance
Affordable Medicines' third-quarter revenues were $547.1 million, up 19% year over year. Growth was driven by strong demand for women's health patches, biosimilars and new product launches. New launches contributed $54 million, while the favorable timing of a large biosimilar customer order added approximately $40 million.
Specialty's third-quarter revenues of $150.3 million increased 20% year over year, driven by continued momentum in Crexont, Brekiya autoinjector and Unithroid. Management highlighted strong prescription trends and growing physician adoption of these products.
AvKARE net revenues of $165.3 million declined 16.7% year over year. The decline primarily reflected a large cardiovascular product launch in the year-ago quarter that did not recur.
Amneal's Q3 Expenses & Margins
Adjusted research and development expenses decreased 11.7% year over year to $53.7 million in the third quarter of 2026. Adjusted selling, general and administrative expenses remained nearly flat at $126.6 million.
As of Sept. 30, 2026, Amneal had cash and cash equivalents worth $157.4 million compared with $127.6 million as of June 30, 2026.
AMRX 2026 Guidance Updated
Amneal raised its 2026 net revenue guidance marginally from $3.10-$3.20 billion to $3.15-$3.25 billion, reflecting continued strength across its key businesses.
The company expects adjusted EBITDA of $800 million to $815 million, up from its earlier projection of $750 million to $780 million.
Adjusted EPS is expected in the range of $1.04-$1.08, up from its earlier estimate of 96 cents to $1.06.
Management expects strong growth momentum to continue into 2027, supported by new launches, expanding biosimilar opportunities and growing demand for specialty medicines.
Amneal's Recent Product & Pipeline Developments
In September, Amneal received FDA approval for its complex generic injectable lanreotide for the treatment of acromegaly, advanced gastro-enteropancreatic neuroendocrine tumors and carcinoid syndrome. The product was launched late in the quarter and generated about $7 million in revenues. Management expects a significantly higher contribution in the fourth quarter as demand increases.
AMRX also secured approvals for romidepsin ready-to-use injection, sodium bicarbonate IV bags and additional strengths and presentations of iohexol. The company is advancing more complex injectable, inhalation and long-acting drug programs, with further launches expected between 2027 and 2029.
AMRX Expands Its Biosimilars Portfolio
In August, Amneal completed its acquisition of Kashiv BioSciences, strengthening its capabilities in biosimilar development, manufacturing and commercialization. Management stated that integration is progressing well and expects biosimilars to become a major long-term growth driver.
The company is preparing to launch its denosumab biosimilars in mid-2027. It also expects to introduce its Xolair biosimilar in the second half of 2027, subject to regulatory and patent-related requirements.
Separately, Amneal continues to advance its GLP-1 collaboration with Pfizer. Construction of dedicated manufacturing facilities remains on track, with commercial production expected to begin around 2028-2029.
AMNEAL PHARMACEUTICALS, INC. Price, Consensus and EPS Surprise
AMNEAL PHARMACEUTICALS, INC. price-consensus-eps-surprise-chart | AMNEAL PHARMACEUTICALS, INC. Quote
AMRX’s Zacks Rank & Other Stocks to Consider
Amneal currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the biotech sector are TG Therapeutics (TGTX - Free Report) , currently sporting a Zacks Rank #1 (Strong Buy), and ImmunityBio (IBRX - Free Report) and Iovance Biotherapeutics (IOVA - Free Report) carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 30 days, earnings per share estimates for TG Therapeutics have risen from 92 cents to 94 cents for 2026. Over the same period, estimates for 2027 earnings per share have increased from $2.65 to $2.66. TGTX’s shares have risen 103.8% year to date.
TG Therapeutics’ earnings missed estimates in three of the trailing four quarters and beat in the remaining one, with an average surprise of 184.65%.
Over the past 30 days, loss per share estimates for ImmunityBio remain unchanged at 97 cents for 2026. Over the same period, estimates for 2027 loss per share have improved from 14 cents to 11 cents. IBRX’s shares have surged 318.7% year to date.
ImmunityBio’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 13.40%.
Over the past 30 days, loss per share estimates for Iovance Biotherapeutics remain unchanged at 45 cents and 22 cents for 2026 and 2027, respectively. IOVA shares have skyrocketed 223.4% year to date.
Iovance Biotherapeutics beat estimates in three of the trailing four quarters and met in the remaining one, with the average surprise being 16.82%.