Amneal Raises 2026 Ebitda Outlook After Kashiv Costs

The Tip Desk · November 10, 2026 · 3 min read

Third-quarter 2026 net revenue rose 10% to $863 million. Amneal reported a $22 million attributable net loss as non-recurring acquisition and integration costs and a higher tax provision outweighed revenue and gross profit gains. Adjusted EBITDA reached $207 million as the company lifted full-year adjusted EBITDA guidance to $800 million–$815 million.

Amneal Pharmaceuticals (AMRX) reported third-quarter net revenue of $863 million, up 10% from a year earlier, matching the year-over-year growth rate of the second quarter, and raised its 2026 outlook again. Amneal reported a $22 million net loss attributable to the company, as non-recurring acquisition and integration costs and a higher tax provision more than offset higher revenue and gross profit.

The diversified, global biopharmaceutical company said Affordable Medicines net revenue growth accelerated to 19% year over year from 13% in the second quarter, driven by biosimilars, women’s health patches, and new launches. Specialty net revenue increased 20%, still led by CREXONT, BREKIYA autoinjector, and UNITHROID. AvKARE net revenue declined 17%, which the company attributed to a non-recurring cardiovascular product launch in the prior year.

Net loss attributable to Amneal was $22 million, or $(0.06) a share, compared with net income of $58 million, or $0.18 a share, in the second quarter. The company said higher revenue and gross profit were more than offset by non-recurring acquisition and integration costs and a higher tax provision. Diluted loss per share was $(0.06) versus $0.01 a year earlier, which the company also tied to a higher share count from the Kashiv acquisition.

Adjusted EBITDA was $207 million, up 30% from the year-ago quarter after a 12% increase to $206 million in the second quarter. Adjusted diluted earnings were $0.26 a share. GAAP gross margin was 38.7%; adjusted gross margin was 43.2%.

Acquisition and integration costs of $22.3 million, primarily professional services for Kashiv, appeared in the quarter. The company also recorded $5.4 million of charges for property losses after severe rain damaged an India facility in July, and $6.5 million of net legal charges, primarily an $8.0 million government-investigation charge. A $6.0 million gain on remeasurement of Kashiv contingent consideration offset part of those items.

Cash and cash equivalents were $157.4 million at September 30, down from $282.0 million at year-end 2025. Gross debt was $3.23 billion, including a $350 million incremental term loan taken in August to fund part of the Kashiv cash consideration. Net leverage was 3.9 times last-twelve-months adjusted EBITDA.

The company increased full-year 2026 net revenue guidance to $3.15 billion–$3.25 billion from $3.10 billion–$3.20 billion, adjusted EBITDA to $800 million–$815 million from $750 million–$780 million, and adjusted diluted EPS to $1.04–$1.08 from $0.96–$1.06. Operating cash flow guidance was lowered to $325 million–$375 million from $350 million–$400 million, and operating cash flow excluding discrete items to $350 million–$400 million from $375 million–$425 million, reflecting working capital including higher inventory in key growth areas. Capital expenditure guidance remained about $150 million, unchanged from prior guidance.

Co-founders and co-CEOs Chirag and Chintu Patel said the company is preparing to enter 2027 with financial performance accelerating on Women’s Health patches, biosimilars, injectables including lanreotide, CREXONT, and the BREKIYA autoinjector, and that the Kashiv integration is proceeding well.