Viatris Q2 2026: revenue up 5%, adjusted EPS $0.69, guidance raised
Viatris had a solid quarter underneath the headline loss: revenue rose 5% to $3.76 billion, adjusted EPS of $0.69 beat the $0.61 consensus, and management raised every full-year guidance midpoint. The reported GAAP loss of $119 million came from a $177.8 million non-cash charge on the planned Tyrvaya sale, and a $100 million to $150 million supply hit still weighs on the second half. Read the adjusted numbers and the GAAP numbers side by side.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS was a loss of $0.10 versus $0.00 a year ago, dragged by a $177.8 million non-cash charge tied to the planned sale of the Tyrvaya product rights. Adjusted EPS of $0.69 was up 11% from $0.62 and about 12.6% above the $0.61 consensus estimate. The gap between the two lines is the story: US GAAP gross margin was 38.6% while adjusted gross margin was 57.5%, with $586.4 million of purchase accounting amortization sitting mostly in cost of sales.
Total revenues rose 5% to $3.76 billion from $3.58 billion a year ago, or 3.5% on an operational basis after stripping out currency moves. Brands net sales of $2.42 billion rose 6% and Generics of $1.33 billion rose 3%, with Greater China up 21% to $713.8 million. Emerging Markets fell 2% and JANZ fell 3%, so the growth is not broad-based.
Management raised the midpoint of every 2026 metric: revenue to $14.75 billion from $14.70 billion, adjusted EBITDA to $4.40 billion, adjusted EPS to $2.52 and free cash flow to $2.20 billion. The revenue range is $14.55 billion to $14.95 billion, so the midpoint move is only about 0.3%. The company still expects $450 million to $550 million of new product revenue for the year, with about $172 million booked in the first half.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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