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Viatris Inc Down 7.11% To $12.30 After Earnings Miss

Wednesday, February 28, 2024 03:08 PM | InvestorsObserver Analysts

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Viatris Inc Down 7.11% To $12.30 After Earnings Miss

Viatris Inc (VTRS) missed earnings estimates for Q4 2023 this morning.

Viatris Inc's earnings came in at an EPS of $0.62 per share, 5% lower than estimates for an EPS of $0.65 per share. The firm's earnings are down 7% since reporting $0.67 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Analyst projections for Viatris Inc revenue came in at a consensus of $3.9 billion. Fourth-Quarter revenues missed estimates for $3.8 billion by $44.1 million (1%). The company achieved negative 1% growth year-over-year compared to the firm's revenue of $3.9 billion from the year-ago quarter. The lower earnings growth relative to revenue signals Viatris Inc has not been able to improve its profit margin.

The stock is down 7.11% to $12.30 after the report.

Viatris Inc's profit margins took a hit as earnings fell at a faster pace than revenues.

Wall Street Analysts had an average rating of Sell on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Viatris Inc has performed a little above average during the past few months. Before the report, Viatris Inc received a Long-Term Technical Rank by InvestorsObserver of 72, putting it in the top half of stocks. The firm was recently trading at a 52-week high of $13.62 on February 23, 2024 and set a 52-week low on October 27, 2023 at $8.74.

We are Viatris. A new kind of global healthcare company empowering people worldwide to live healthier at every stage of life. We provide access to medicines advance sustainable operations develop innovative solutions and leverage our collective expertise to connect more people to more products and services through our one-of-a-kind Global Healthcare Gateway. Formed in November 2020 we bring together scientific manufacturing and distribution expertise with proven regulatory medical and commercial capabilities to deliver high-quality medicines to patients in more than 165 countries and territories. At Viatris our portfolio comprises more than 1400 approved molecules across a wide range of therapeutic areas spanning both non-communicable and infectious diseases including globally recognized brands complex generic and branded medicines and a growing portfolio of biosimilars. With a global workforce of approximately 37000 Viatris is headquartered in the U.S. with global centers in Pittsburgh Shanghai and Hyderabad India. Additionally Viatris representatives do not request payment or personal bank information as part of our recruitment process. Viatris.com is the primary source of all company job postings and authorized third-party career websites.

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