Amneal Pharmaceuticals (AMRX) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Amneal Pharmaceuticals published the results on November 3, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Amneal Pharmaceuticals reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted diluted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Amneal closed its acquisition of Kashiv BioSciences, a related party, on August 10, 2026, paying $375.0 million in cash and 28,942,108 Class A shares plus up to $350.0 million of contingent payments.
• The GAAP loss per share includes $14.2 million of accretion of redeemable non-controlling interests, recorded because Amneal agreed to buy out part of the Rondo Class B Units; that purchase closed on October 1, 2026.

Source: Amneal Q3 2026 results, November 3, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Amneal Pharmaceuticals splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Amneal Pharmaceuticals's Affordable Medicines revenue was $547 million in Q3 2026, up 19% from $461 million in Q3 2025, 63% of total revenue.
• Amneal Pharmaceuticals's Specialty revenue was $150 million in Q3 2026, up 20% from $125 million in Q3 2025, 17% of total revenue.
• Amneal Pharmaceuticals's AvKARE revenue was $165 million in Q3 2026, down 17% from $199 million in Q3 2025, 19% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Amneal's prior full-year guidance was net revenue of $3.10 billion to $3.20 billion and adjusted diluted EPS of $0.96 to $1.06.

In its Q3 2026 release, Amneal Pharmaceuticals said:

“We are increasing full year 2026 guidance for net revenue, adjusted EBITDA, and adjusted diluted EPS.”

“Net revenue $3.15 billion-$3.25 billion”

“Adjusted diluted EPS (2) $1.04-$1.08”

“Assumes approximately 340 million weighted-average diluted shares outstanding for the year ending December 31, 2026.”

Source: Amneal Q3 2026 release, Nov 3, 2026.

This is the company's own guidance as of Nov 3, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the AMRX forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Net revenue and GAAP diluted EPS, each as first reported in that quarter's release. Amneal reports in thousands; net revenue is shown in millions. Q1 2026 figures were first announced as preliminary results on April 22, 2026 and were unchanged in the May 7 release.

We do not hold a confirmed date for Amneal Pharmaceuticals's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 3, 2026

Amneal Pharmaceuticals reports three segments. Affordable Medicines, which covers retail generics, injectables and biosimilars, had net revenue of $547.1 million in Q3 2026. Specialty, branded drugs mainly for central nervous system and endocrine disorders, had $150.3 million, and AvKARE, which distributes to the U.S. federal government and retail and institutional customers, had $165.3 million. Total net revenue was $862.7 million, up 10%. (Amneal Form 10-Q, Q3 2026, Nov 9, 2026; Amneal Q3 2026 release, Nov 3, 2026)

Amneal's Affordable Medicines revenue rose $86.4 million, or 19%. Products launched in 2026 and 2025 contributed $53.7 million of the growth and biosimilar revenue rose $60.7 million, partly offset by price erosion. By dosage form, biosimilars brought in $77.7 million against $17.0 million a year earlier, transdermal products $68.1 million against $47.6 million, and oral solids $207.5 million. (Amneal Form 10-Q, Q3 2026, Nov 9, 2026; Amneal Q3 2026 release, Nov 3, 2026)

Specialty revenue rose $25.0 million, or 20%, on higher sales of CREXONT ($14.8 million), the BREKIYA autoinjector ($6.2 million) and UNITHROID ($5.6 million), partly offset by an expected decline in RYTARY. AvKARE revenue fell $33.2 million, or 17%, because its government label channel had benefited in the second half of 2025 from a non-recurring cardiovascular product launch; government label revenue was $53.4 million against $87.8 million. (Amneal Form 10-Q, Q3 2026, Nov 9, 2026; Amneal Q3 2026 release, Nov 3, 2026)

Amneal's revenue is concentrated in a few drug wholesalers and pharmacy chains. Its four largest customers, Cencora, McKesson, Cardinal Health and CVS Health, accounted for approximately 71% of consolidated net revenue in 2025, out of approximately 1,300 customers in total, over 1,100 of them in AvKARE. Amneal operates principally in the U.S., India and Ireland. (Amneal Form 10-K, 2025, Feb 27, 2026; Amneal Form 10-Q, Q3 2026, Nov 9, 2026)

Amneal reported a GAAP diluted loss of $0.06 per share in Q3 2026, against income of $0.01 a year earlier, while adjusted diluted EPS rose 53% to $0.26 from $0.17. Consolidated net income was $12.3 million, but $19.8 million was attributable to non-controlling interests and $14.2 million went to accretion of redeemable non-controlling interests, leaving a net loss attributable to Amneal of $21.7 million. (Amneal Q3 2026 release, Nov 3, 2026)

Amneal's adjusted figure adds back $37.7 million of amortization, $22.7 million of acquisition, site closure and idle facility expenses (mainly Kashiv deal costs), $14.8 million of asset impairment charges on research equipment, a $13.0 million increase in the tax receivable agreement liability, $8.6 million of legal charges, $5.8 million of loss on refinancing and $5.4 million of costs from July rain damage at a facility in India, and subtracts a $6.0 million contingent consideration gain. The non-GAAP effective tax rate was 24.0%, against a GAAP rate of 18.3%. (Amneal Q3 2026 release, Nov 3, 2026; Amneal Form 10-Q, Q3 2026, Nov 9, 2026)

Amneal's share count rose with the Kashiv deal. Adjusted diluted EPS uses 348.4 million weighted-average diluted shares, against 324.8 million a year earlier; the GAAP loss per share uses 335.7 million. Interest expense, net was $58.9 million against $62.8 million after term loan repricings in February and August 2026, even though Amneal borrowed an additional $350.0 million in August to fund part of the Kashiv purchase. (Amneal Q3 2026 release, Nov 3, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Amneal gives full-year guidance in its release and raised it again with Q3 2026. It now expects net revenue of $3.15 billion to $3.25 billion (prior $3.10 billion to $3.20 billion), adjusted EBITDA of $800 million to $815 million (prior $750 million to $780 million) and adjusted diluted EPS of $1.04 to $1.08 (prior $0.96 to $1.06), assuming approximately 340 million weighted-average diluted shares. (Amneal Q3 2026 release, Nov 3, 2026)

Amneal lowered its operating cash flow guidance to $325 million to $375 million from $350 million to $400 million, citing working capital including higher inventory in key growth areas. It does not give GAAP guidance, saying acquisition costs, restructuring, impairments and legal settlements cannot be predicted with reasonable certainty. (Amneal Q3 2026 release, Nov 3, 2026)

A consensus figure is the average of the models published by the analysts who cover Amneal Pharmaceuticals, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Amneal Pharmaceuticals's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning AMRX is on is AMRX a buy or a sell?, what analysts expect next is on the AMRX forecast, and what the company does is on the Amneal Pharmaceuticals (AMRX) stock page.

Every number on this page can be traced to a document Amneal Pharmaceuticals published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.