ANI Pharmaceuticals Reiterates FY24 Outlook Of $520M-$542M Vs. $535.11M Estimate, Projects FY24 Adjusted EPS Of $4.26- $4.67 Vs. $4.48 Estimate
Portfolio Pulse from Benzinga Newsdesk
ANI Pharmaceuticals (ANIP) has reiterated its FY24 revenue outlook of $520M-$542M, aligning with a $535.11M estimate, and projects FY24 adjusted EPS of $4.26-$4.67, close to the $4.48 estimate. The company expects a gross margin between 62% and 63% and will continue to apply a 26.0% tax rate for adjusted non-GAAP EPS calculations. Following a May 2023 equity raise, ANIP now anticipates 19.4M-19.7M shares outstanding for diluted EPS calculations and expects a U.S. GAAP effective tax rate of 22.0%-25.0%, adjusted from 20.0%-22.0%.
May 10, 2024 | 10:59 am
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ANI Pharmaceuticals reiterates its FY24 revenue and EPS outlook, closely aligning with estimates. The company also updated its share count and tax rate expectations following a May 2023 equity raise.
Reiterating the FY24 outlook suggests stability and confidence in the company's financial projections, closely aligning with analyst estimates. The adjustment in share count and tax rate expectations following the equity raise provides clarity on financial metrics, likely maintaining investor confidence. However, as these updates align closely with previous estimates, the short-term impact on the stock price is expected to be neutral.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100