10-K · February 26, 2026
Viatris reported 2025 total revenues of $14.30 billion and highlights execution on its strategy to reshape the business: pipeline progress (five positive Phase 3 readouts), targeted M&A (Aculys acquisition) and…
Earnings analysis · 10-Q
VTRS earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Viatris reported a strong Q1 2026 performance with revenues of $3.51 billion, an 8% increase from the previous year, and EPS of $0.59, surpassing estimates by 16%. Key growth was driven by a significant 22% rise in the…
Read full summary
Viatris reported a strong Q1 2026 performance with revenues of $3.51 billion, an 8% increase from the previous year, and EPS of $0.59, surpassing estimates by 16%. Key growth was driven by a significant 22% rise in the Greater China segment, although gross margin decreased to 33% due to higher costs. Management reaffirmed fiscal 2026 guidance amid ongoing restructuring efforts and cost challenges.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.59
- Gross margin
- 33%
What stood out
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Q1 Revenue Up 8% Year-over-Year
Total revenues reached $3.51 billion in Q1 2026, up from $3.25 billion in Q1 2025, an increase of $262.7 million.
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EPS Beats Expectations
Reported EPS of $0.59 exceeded consensus estimates of $0.51, resulting in a 15.69% surprise.
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Strong Growth in Greater China Segment
Sales in the Greater China region grew by 22% to $680.1 million, significantly contributing to overall revenue growth.
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Operating Cash Flow
Operating cash flow was $388.3 million, although down from $535.5 million the previous year.
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Reaffirmed Full-Year Guidance
Management confirmed revenue guidance of $14.45 billion to $14.95 billion for fiscal 2026.
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Adjusted Gross Margin Stable at 56%
Adjusted gross margin remained stable at 56% for both Q1 2026 and Q1 2025.
What to watch
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Increased Cost Pressures
Cost of sales rose to $2.36 billion in Q1 2026, impacting gross margin which fell to 33%.
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Litigation Settlements
Viatris accrued $450.8 million for legal contingencies, which could impact financial performance.
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Restructuring Costs
Continued restructuring efforts have led to significant operational costs, which were about $92.5 million in Q1 2026.
Management's outlook
Management reaffirmed their full-year guidance for revenue and adjusted EBITDA.
Earlier filings 4
10-Q · May 8, 2025
Viatris reported Q1 total revenues of $3,254.3 million, down from $3,663.4 million a year ago, with gross margin of 35.7% and a GAAP diluted loss per share of $(2.55). Results were driven by a $2,936.8 million…
10-Q · November 7, 2024
Viatris reported Q3 (three months ended September 30, 2024) total revenues of $3,751.2 million and diluted EPS of $0.08. Revenue, gross profit and operating income all declined versus the prior-year quarter while the…
10-Q · August 8, 2024
Viatris reported Q2 total revenues of $3,796.6 million (down from $3,918.6 million in Q2 2023) and swung to a net loss of $326.4 million (vs. net income $264.0 million in Q2 2023), producing diluted EPS of $(0.27) (vs.…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.