- Endo International plc's (NASDAQ:ENDP) Q1 sales decreased 9% to $652.26 million, beating the consensus of $633.41 million.
- The decrease was attributable to decreased revenues from the sterile injectables segment, partially offset by increased revenues from the generic segment and the specialty products portfolio.
- Adjusted income from continuing operations reached $156 million compared to $175 million.
- Adjusted EPS reached $0.66 compared to $0.73 in Q1 2021. GAAP EPS loss was $(0.28).
- Branded pharma segment revenues were $205 million, a decrease of 1%. Specialty Products revenues increased 4% to $149 million, with Xiaflex increasing 4% to $99 million.
- Established Products revenues decreased 12% to $56 million, driven primarily by ongoing generic competition.
- Sterile Injectables segment revenues were $240 million, a decrease of 22% attributable to decreased Vasostrict revenues due to generic competition and lower overall demand as COVID-19 related hospitalizations decline.
- Generic were $186 million, up 3%, attributable to revenues from varenicline tablets.
- Guidance: Endo Expects Q2 FY22 sales of $500 million - $525 million, lower than the consensus of $655.56 million.
- It expects adjusted EPS loss of $(0.17) - $(0.15), versus consensus estimate of $0.48.
- Price Action: ENDP shares are down 30.9% at $1.40 during the market session on the last check Friday.
