ANI Pharmaceuticals Reports Q2 2024 Financial Results
Intellectia.AI Updated: 2024-08-06
ANI Pharmaceuticals Reports Q2 2024 Financial Results
Overview ANI Pharmaceuticals, Inc. has reported its financial results for the second quarter ended June 30, 2024.
Key Financial Metrics
| Metric | Q2 2023 | Q2 2024 | Y-o-Y Change | Consensus Estimates |
|---|---|---|---|---|
| Total Revenue | $116.5M | $138.0M | 18.4% | $129.05M |
| Earnings Per Share (EPS) | $0.95 | $0.00 | -100.0% | $0.95 |
The company reported total revenues of $138.0 million for Q2 2024, an 18.4% increase from the $116.5 million reported in Q2 2023. However, the Earnings Per Share (EPS) was $0.00, missing the consensus estimate of $0.95.
Revenue Performance Across Major Segments
| Segment | Q2 2023 | Q2 2024 | Y-o-Y Change |
|---|---|---|---|
| Generic Pharmaceuticals | $63.3M | $74.0M | 16.8% |
| Branded Pharmaceuticals and Other | $28.9M | $14.9M | -48.5% |
| Rare Disease (Cortrophin Gel) | $24.3M | $49.2M | 102.5% |
The rare disease segment showed the most significant growth, driven by increased sales of Cortrophin Gel. Generic Pharmaceuticals also saw a healthy increase in revenues, whereas the Branded Pharmaceuticals segment experienced a sharp decline.
Comments from Company's Officers No specific comments from the company's officers were provided in the report.
Dividends or Share Repurchase Program There is no information provided on any dividends or share repurchase program.
Forward Guidance No forward guidance for subsequent quarters or fiscal years was provided in the report.
Stock Price Movement After the earnings release, ANI Pharmaceuticals' stock price showed no significant change, with a 0.0% movement.
In summary, ANI Pharmaceuticals delivered solid revenue growth in Q2 2024, particularly in the rare disease segment due to Cortrophin Gel sales. However, the company failed to meet EPS expectations, indicating potential challenges in managing costs or other financial obligations.
