Viatris (VTRS) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Viatris published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Viatris reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted 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.

• Revenue is Viatris's total revenues: net sales of $3,734.7 million plus other revenues of $14.8 million. The four segments are reported on net sales; other revenues is the reconciling row.
• The Q3 2026 GAAP net loss came mainly from a $453.2 million income tax provision on pre-tax earnings of $127.9 million, which Viatris attributes to losses in jurisdictions where it can realize minimal tax benefit.
• Viatris's oral solid dose plant in Nashik, India had a fire in February 2026, received an FDA Official Action Indicated classification in September, and was voluntarily shut in October for remediation. Viatris expects to resume production there in the first quarter of 2027.

Source: Viatris Q3 2026 results, November 5, 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 Viatris 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.

• Viatris's Developed Markets revenue was $2.2 billion in Q3 2026, down 2% from $2.3 billion in Q3 2025, 59% of total revenue.
• Viatris's Greater China revenue was $703 million in Q3 2026, up 14% from $615 million in Q3 2025, 19% of total revenue.
• Viatris's JANZ revenue was $287 million in Q3 2026, down 6% from $306 million in Q3 2025, 8% of total revenue.
• Viatris's Emerging Markets revenue was $529 million in Q3 2026, down 7% from $570 million in Q3 2025, 14% of total revenue.
• Viatris's Other revenues revenue was $14.8 million in Q3 2026, up 19% from $12.4 million in Q3 2025, under 1% 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

Viatris's guidance table, as of November 5, 2026: total revenues of $14,700 million to $14,900 million (midpoint $14,800 million), adjusted EBITDA of $4,450 million to $4,550 million, adjusted EPS of $2.56 to $2.63 (midpoint $2.60) and free cash flow excluding transaction-related and restructuring-related costs of $2,225 million to $2,375 million. Viatris gives no GAAP EPS guidance.

In its Q3 2026 release, Viatris said:

“Viatris is raising the midpoints of its 2026 financial guidance ranges, each as set forth below.”

“U.S. GAAP net cash provided by operating activities for 2026 is estimated to be between $2.025 billion and $2.1 billion, with a midpoint of approximately $2.0625 billion.”

“2026 financial guidance ranges also exclude any contribution from the planned acquisition of Pacira BioSciences.”

Source: Viatris Q3 2026 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the VTRS forecast page.

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

Total revenues and U.S. GAAP diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for Viatris'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 5, 2026

Viatris reports four geographic segments. In Q3 2026 Developed Markets (mainly North America and Europe) had net sales of $2,215.9 million, Greater China $702.6 million, Emerging Markets $529.1 million and JANZ (Japan, Australia and New Zealand) $287.1 million. With $14.8 million of other revenues, total revenues were $3,749.5 million, against $3,759.9 million a year earlier. (Viatris Q3 2026 release, Nov 5, 2026; Viatris Form 10-Q, Q3 2026, Nov 5, 2026)

Brands were $2,461.4 million of net sales, up 1%, and generics $1,273.3 million, down 3%. The largest single product was Lipitor at $451.9 million, up from $396.1 million, followed by Norvasc at $190.2 million and EpiPen Auto-Injectors at $155.8 million. (Viatris Q3 2026 release, Nov 5, 2026; Viatris Form 10-Q, Q3 2026, Nov 5, 2026)

Viatris said new product sales, the North American business and Greater China largely offset supply constraints in Europe and Emerging Markets and added competition on certain products. Greater China net sales rose 14%, or 10% in constant currency, on growth in e-commerce, retail and hospital channels. Emerging Markets fell 7%, mainly on lower ARV volumes, and JANZ fell 6% on competition in Australia and government price cuts in Japan. (Viatris Q3 2026 release, Nov 5, 2026; Viatris Form 10-Q, Q3 2026, Nov 5, 2026)

Viatris estimates supply constraints cut total revenues by about $100 million in Q3 2026 and expects about the same hit in Q4. The estimate sits in the release's update on its Nashik, India plant, which Viatris voluntarily shut in October after an FDA Official Action Indicated classification. New products brought in about $115 million in the quarter. (Viatris Q3 2026 release, Nov 5, 2026)

Viatris posted a GAAP loss of $(0.28) a share in Q3 2026 and adjusted EPS of $0.71, up from $0.67. The largest adjustment was $613.7 million of purchase accounting amortization, most of it in cost of sales. Adjusted EPS also excludes restructuring costs ($66.2 million), acquisition and divestiture-related costs ($44.5 million) and share-based compensation ($39.6 million). (Viatris Q3 2026 release, Nov 5, 2026)

Tax drove the GAAP loss. Pre-tax earnings were $127.9 million, but the income tax provision was $453.2 million, which the 10-Q puts down to losses in jurisdictions for which minimal benefit can be realized. The adjusted figures add back $272.8 million of tax effects and other income tax related items. (Viatris Q3 2026 release, Nov 5, 2026; Viatris Form 10-Q, Q3 2026, Nov 5, 2026)

Weighted average diluted shares were 1,148.6 million on a GAAP basis and 1,160.6 million for adjusted EPS, against 1,172.2 million a year earlier. Through September 30, 2026, Viatris returned about $717 million to shareholders, including about $300 million of share repurchases, with about $700 million left on its authorization. (Viatris Q3 2026 release, Nov 5, 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.

Viatris raised the midpoints of its 2026 guidance on November 5, 2026. It now expects total revenues of $14,700 million to $14,900 million, adjusted EBITDA of $4,450 million to $4,550 million and adjusted EPS of $2.56 to $2.63, with a midpoint of $2.60, up from $2.52 in August. It does not guide GAAP EPS. (Viatris Q3 2026 release, Nov 5, 2026)

The guidance leaves out the planned acquisition of Pacira BioSciences, which Viatris agreed to buy for $36.50 a share in cash, an equity value of $1.65 billion, and expects to close by the end of November 2026. Viatris also expects about $450 million of new product revenues for the full year. (Viatris Q3 2026 release, Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover Viatris, 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 Viatris'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 VTRS is on is VTRS a buy or a sell?, what analysts expect next is on the VTRS forecast, and what the company does is on the Viatris (VTRS) stock page.

Every number on this page can be traced to a document Viatris 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.