Amneal Pharmaceuticals Inc.’s stock AMRX soared 14% in premarket trade Monday, after the generics and specialty pharmaceuticals company offered first-quarter guidance that topped consensus estimates. Bridgewater, N.J.-based Amneal said it expects revenue for the quarter to range from $550 million to $560 million, up about 12% from the year-earlier quarter and above the $529 million FactSet consensus. The company is expecting its pretax loss to range from $10 million to breakeven, an improvement of about 50% from a year ago. The company’s long-term debt is expected to stand at $2.692 billion at quarter-end, while cash is expected to stand at $151 million, resulting in net debt of $2.541 billion, down from $2.647 billion as of year-end 2022. For 2023, the company is expecting revenue of $2.25 billion to $2.35 billion, compared with a FactSet consensus of $2.32 billion, It expects adjusted EPS of 40 cents to 50 cents, while FactSet is expecting 50 cents. The stock has fallen 67% in the last 12 months, while the S&P 500 SPX has fallen 5.8%.
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