Business
Viatris Reports Strong Third Quarter 2022 Results
Reaffirms 2022 Guidance Ranges [1] Across Total Revenues, Adjusted EBITDA and Free Cash Flow; Driven by Solid Operating Momentum Despite Foreign Exchange
About this update from Viatris Inc.
[{"type":"text","content":"Reaffirms 2022 Guidance Ranges [1] Across Total Revenues, Adjusted EBITDA and Free Cash Flow; Driven by Solid Operating Momentum Despite Foreign Exchange Headwinds and Absorbing Inflation Impact to DateReports Total Revenues of $4.08 billion; U.S. GAAP Net Earnings of $354 million; Adjusted EBITDA of $1.50 billion; U.S. GAAP Net Cash Provided by Operating Activities of $869 million; and Free Cash Flow of $765 millionStrong Year-to-Date Cash Flow; Approximately $2.81 billion of U.S. GAAP Net Cash Provided by Operating Activities and Approximately $2.56 billion in Free Cash FlowMeets Annual Target of Paying Down Approximately $2.1 billion of Debt Year to Date, One Quarter Ahead of ScheduleBoard of Directors Declares Quarterly Dividend of $0.12 Per Share[1] Viatris is not providing forward-looking guidance for U.S. GAAP net earnings (loss) or a quantitative reconciliation of its 2022 adjusted EBITDA guidance. U.S. GAAP net cash provided by operating activities for 2022 is estimated to be between $3.1 billion and $3.3 billion. Please see \"2022 Financial Guidance\" and \"Non-GAAP Financial Measures\" for additional information.\nPITTSBURGH, Nov. 7, 2022 /PRNewswire/ -- Viatris Inc. (NASDAQ: VTRS) today reported strong results for the third quarter of 2022 and reaffirmed its 2022 financial guidance. The Company also announced that its Board of Directors declared a quarterly dividend of twelve cents ($0.12) for each issued and outstanding share of the Company's common stock. The dividend is payable on December 16, 2022, to shareholders of record at the close of business on November 23, 2022. \nViatris CEO Michael Goettler said: \"We are very pleased with our seven quarters of strong financial performance, which allow us to continue to deliver on our Phase 1 financial commitments and lay a solid foundation for our return to growth in Phase 2.\"\nViatris President Rajiv Malik said: \"In addition to the strong quarterly performance, we continue to progress our pipeline of complex and novel products. I am most proud of a major milestone we achieved during the quarter, along with our partner Mapi Pharma, in announcing our positive top-line results from our Glatiramer Acetate Depot Phase III clinical trial.\"\nViatris CFO Sanjeev Narula said: \"We are extremely pleased with our momentum and how the business is performing after another stron...