Why Viatris Stock Is Popping Today
Shares of Viatris (NASDAQ: VTRS) were popping on Monday, rising 5.4% as of 11:21 a.m. ET after jumping as much as 9.9% earlier in the morning. The solid gain came after the drugmaker announced its first-quarter results before the market open.
Viatris reported first-quarter revenue of $4.18 billion, down 5% year over year and below the average analyst estimate of $4.23 billion. The company posted first-quarter earnings of $399.2 million, or $0.33 per share, based on generally accepted accounting principles (GAAP). Its adjusted non-GAAP earnings came in at nearly $1.13 billion, or $0.93 per share. That easily topped the consensus adjusted earnings estimate of $0.83 per share.
The company didn't provide earnings guidance for full-year 2022. However, Viatris did forecast that full-year revenue should be between $17 billion and $17.5 billion, with free cash flow between $2.5 billion and $2.9 billion.
Source Fool.com
