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Viatris 8-K Report, Financial Results (May 7, 2026)

Reports
Earnings & Results·Other Events·Exhibits & Filings
Filing Date
Filed May 7, 2026
Period End
May 7, 2026
Security
VTRS
In the record · 2020–202610-K1210-Q208-K72

VTRS filed 12 annual reports (10-K), 20 quarterly reports (10-Q) and 72 current reports (8-K) between 2020 and 2026.

  1. Material agreement8-K · Jul ’21Jul ’21
  2. Leadership change8-K · Feb ’23Feb ’23
  3. Deal closed8-K · Jul ’24Jul ’24
  4. Leadership change8-K · Aug ’25Aug ’25

01—Abstract

Summary

Summary of the 8-K filed May 7, 2026. Cited figures are marked; the original filing is the authoritative source.

Viatris Inc. reported first-quarter 2026 results on May 7, 2026, per Exhibit 99.1 of this Form 8-K.

Total revenues were $3.5 billiona ($3,517.0 million), up 8% on a reported basis and up 3% on an operational basis versus the first quarter of 2025, primarily driven by strong growth in Greater China (up 22% reported, 18% operational). U.S. GAAP net earnings were $176.4 million, or $0.15 per diluted share, compared with a net loss of $3,042.0 million in the prior-year quarter, which included a $2.9 billion goodwill impairment charge. Adjusted EBITDA was $1,049.5 million, up 14% reported and 10% operational, and adjusted EPS was $0.59, up 18% reported and 14% operational.

Cash generation was softer in the quarter. U.S. GAAP net cash provided by operating activities was $388.3 millionb, down 27%, and free cash flow was $348.4 million, down 29%. Excluding $111 million of transaction-related and restructuring-related costs, free cash flow was $459 million.

Brands net sales rose 10% reported, and Generics rose 5% reported. New product revenues were approximately $71 millionc in the quarter.

Viatris reaffirmed its 2026 guidance: total revenues of $14,450 to $14,950 milliond, Adjusted EBITDA of $4,150 to $4,450 million, adjusted EPS of $2.33 to $2.47, and free cash flow excluding transaction and restructuring costs of $1,950 to $2,350 million. It also continues to expect more than $2.5 billion of cash available for deployment in 2026 and $450 to $550 million in new product revenues.

02—Key points

Key Highlights

  1. Total revenues of $3,517.0 million, up 8% reported and 3% operational versus Q1 2025, led by Greater China revenue growth of 22% reported and 18% operational.
  2. U.S. GAAP net earnings of $176.4 million ($0.15 per diluted share), versus a net loss of $3,042.0 million in Q1 2025 that included a $2.9 billion goodwill impairment.
  3. Adjusted EBITDA of $1,049.5 million, up 14% reported and 10% operational; adjusted EPS of $0.59, up 18% reported and 14% operational.
  4. Free cash flow of $348.4 million, down 29%, and U.S. GAAP operating cash flow of $388.3 million, down 27%; excluding transaction and restructuring costs, free cash flow was $459 million.
  5. 2026 guidance reaffirmed: total revenues of $14,450-$14,950 million, Adjusted EBITDA of $4,150-$4,450 million, adjusted EPS of $2.33-$2.47, and free cash flow excluding transaction and restructuring costs of $1,950-$2,350 million.
  6. Brands net sales of $2,332.5 million, up 10% reported; Generics net sales of $1,177.2 million, up 5% reported.
  7. Product milestones include Japan approval and launch of Effexor SR for generalized anxiety disorder, and positive Phase 3 contraceptive patch results presented at the ACOG meeting in May 2026.

03—Questions

Frequently Asked Questions

  1. How did Viatris perform in the first quarter of 2026?

    Total revenues were $3,517.0 million, up 8% reported and 3% operational. U.S. GAAP net earnings were $176.4 million, or $0.15 per diluted share, and Adjusted EBITDA was $1,049.5 million, up 14% reported and 10% operational.

  2. Why did reported net earnings improve so much compared with last year?

    The first quarter of 2025 included a non-cash goodwill impairment charge of $2.9 billion, which produced a U.S. GAAP net loss of $3,042.0 million. The 2026 quarter had no goodwill impairment, resulting in net earnings of $176.4 million.

  3. Did cash flow keep pace with earnings growth?

    No. U.S. GAAP net cash provided by operating activities was $388.3 million, down 27%, and free cash flow was $348.4 million, down 29%. Excluding $111 million of transaction and restructuring costs, free cash flow was $459 million.

  4. Is Viatris maintaining its 2026 outlook?

    Yes. Viatris reaffirmed its 2026 guidance ranges and expects U.S. GAAP net cash provided by operating activities of $1.7 billion to $2.0 billion. It also continues to expect more than $2.5 billion of cash available for deployment in 2026.

  5. Which growth drivers did management highlight?

    Management cited accelerated growth in Greater China, continued strength in Emerging Markets, and contributions from new product launches in Generics. The company generated approximately $71 million in new product revenues in the quarter and expects $450 to $550 million for 2026.

04—Continue

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