Jun 2026 (Q2 FY26) — Aug 6, 2026
Viatris Q2 FY26 — Strong Performance and Raised Full-Year Guidance
Read the full callViatris (VTRS) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Viatris earnings: last reported Thu, 6 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 3,757 | +4.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 0.2 | −6.3 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | Quarterly, as filed | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. |
Guidance
What management said, and what became of it
19 of 22 judged targets kept · 22 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Nefecon Japan Phase III topline readout | topline readout in the first half of 2026 | Dec 2025 | We recently announced positive top line Phase III results evaluating the efficacy and safety of Nefecon in Japanese dog with primary IGA nephropathy | Achieved |
| MR-142 second pivotal Phase III study readout | results in the first half of 2026 | Jun 2025 | Ghosted | |
| FY26 total revenue and adjusted EBITDA growth guide | approximately 2% total revenue and adjusted EBITDA growth versus 2025 | Dec 2025 | The midpoint of each of our revised guidance ranges represent expected operational growth of approximately 2% for total revenues, 5% for adjusted EBITDA and 7% for adjusted EPS versus the prior year. | Revised Up |
3 of Viatris Inc's 44 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 41 more targets are in the full ledger.
Claimed
- Delivered $3.8 billion in total revenues, representing 3.5% operational growth year-over-year.
- Achieved adjusted EBITDA of $1.2 billion and adjusted EPS of $0.69 per share, exceeding expectations.
- Raised the midpoint of 2026 financial guidance across all key metrics (revenue, EBITDA, EPS).
- Greater China net sales increased 16% year-over-year, driven by strategic investments and favorable market fundamentals.
- Received U.S. regulatory approval for Winland, a new transdermal hormonal contraceptive patch, ahead of its PDUFA date.
- Returned approximately $550 million to shareholders through dividends and share repurchases, and repaid $900 million of debt.
Qualified
- Nashik facility manufacturing disruptions and FDA inspection observations are expected to impact H2 revenues by $100 million to $150 million.
- Greater China growth is expected to moderate in the second half due to a procurement policy change negatively impacting hospital channel volumes.
- Net sales in Emerging Markets declined 2% year-over-year, falling below expectations due to supply constraints in the ARV generics portfolio.
- The company agreed to sell the global rights to Tirva, signaling a strategic shift away from eye care as a therapeutic area of focus.
- Additional competitive pressure is anticipated in developed markets for Brena and Wixela in North America.
Price
$18.26 −2.14% · −$0.4
Performance +79.5% 1Y
1Y: $10.17 on 17 Oct 2025 → $18.26. High $18.66 (16 Oct 2026), low $10.11 (6 Nov 2025).
- Previous close
- $18.66
- 52-week range
- $10.11 – $18.66
- One year
- +77.11%
Overview
- Symbol
- VTRS
- Sector
- Health Care
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
19 of 22 judged targets kept · 22 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Nefecon Japan Phase III topline readout | topline readout in the first half of 2026 | Dec 2025 | We recently announced positive top line Phase III results evaluating the efficacy and safety of Nefecon in Japanese dog with primary IGA nephropathy | Achieved |
| MR-142 second pivotal Phase III study readout | results in the first half of 2026 | Jun 2025 | Ghosted | |
| FY26 total revenue and adjusted EBITDA growth guide | approximately 2% total revenue and adjusted EBITDA growth versus 2025 | Dec 2025 | The midpoint of each of our revised guidance ranges represent expected operational growth of approximately 2% for total revenues, 5% for adjusted EBITDA and 7% for adjusted EPS versus the prior year. | Revised Up |
Claimed
- Delivered $3.8 billion in total revenues, representing 3.5% operational growth year-over-year.
- Achieved adjusted EBITDA of $1.2 billion and adjusted EPS of $0.69 per share, exceeding expectations.
- Raised the midpoint of 2026 financial guidance across all key metrics (revenue, EBITDA, EPS).
- Greater China net sales increased 16% year-over-year, driven by strategic investments and favorable market fundamentals.
- Received U.S. regulatory approval for Winland, a new transdermal hormonal contraceptive patch, ahead of its PDUFA date.
- Returned approximately $550 million to shareholders through dividends and share repurchases, and repaid $900 million of debt.
Qualified
- Nashik facility manufacturing disruptions and FDA inspection observations are expected to impact H2 revenues by $100 million to $150 million.
- Greater China growth is expected to moderate in the second half due to a procurement policy change negatively impacting hospital channel volumes.
- Net sales in Emerging Markets declined 2% year-over-year, falling below expectations due to supply constraints in the ARV generics portfolio.
- The company agreed to sell the global rights to Tirva, signaling a strategic shift away from eye care as a therapeutic area of focus.
- Additional competitive pressure is anticipated in developed markets for Brena and Wixela in North America.
The full ledger
Open Viatris Inc’s full ledger
A free account opens 5 company ledgers a month. All 44 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 7, 2026
Viatris Q1 FY26 — Strong Start Driven by China and Pipeline Progress
Read the full callDec 2025 (Q4 FY25) — Feb 26, 2026
Viatris Q4 FY25 — Strategic Review Positions for Sustained Growth
Read the full callEvery analysed call
Viatris earnings calls (VTRS)
Financials
What the filings say
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 3,751 | 3,528 | 3,254 | 3,582 | 3,760 | 3,704 | 3,517 | 3,757 |
| Operating profit | 226 | -180 | -2,882 | 233 | 179 | -193 | -80 | 6 |
| Operating margin | 6.0% | −5.1% | −88.6% | 6.5% | 4.8% | −5.2% | −2.3% | 0.2% |
| Interest | 146 | 120 | 116 | 117 | 120 | 120 | 120 | 121 |
| Profit before tax | 91 | -526 | -3,097 | -217 | -8 | -343 | -247 | -64 |
| Tax rate | −4.8% | 1.9% | 1.8% | 97.9% | −1522.8% | 0.8% | 171.3% | −85.6% |
| EPS ($ per share) | 0.08 | — | -2.55 | 0 | -0.11 | — | 0.15 | -0.10 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | — | 6 | 12 | 12 | 12 | 12 | 12 | 13 |
| Reserves | — | 6,031 | 5,361 | 3,689 | 5,176 | 4,640 | 3,419 | -388 |
| Total liabilities | — | 19,372 | 38,599 | 34,350 | 28,950 | 27,218 | 22,865 | 22,482 |
| Fixed assets | — | 2,150 | 3,460 | 3,189 | 3,025 | 2,760 | 2,666 | 2,614 |
| Total assets | — | 31,256 | 61,553 | 54,843 | 50,022 | 47,686 | 41,501 | 37,193 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 2,342 | 1,804 | 1,232 | 3,017 | 2,999 | 2,900 | 2,303 | 2,316 |
| Cash from investing | -1,210 | -525 | -301 | -118 | 1,474 | -864 | 1,801 | -428 |
| Cash from financing | -1,091 | -1,169 | -606 | -3,012 | -3,878 | -2,302 | -4,330 | -1,294 |
| Net cash flow | 19 | 102 | 359 | -144 | 556 | -269 | -257 | 612 |
| Capital expenditure | -252 | -213 | -243 | -457 | -406 | -377 | -326 | -379 |
| Free cash flow | 2,090 | 1,591 | 989 | 2,560 | 2,593 | 2,523 | 1,977 | 1,937 |
VTRS revenue by segment
Greater China grew from 15% to 19% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Developed Markets | 62% | 61% | 58% | 59% | 60% | 61% | 58% | 59% | +3.5% |
| Greater China | 15% | 15% | 17% | 17% | 16% | 16% | 19% | 19% | +21.2% |
| Emerging Markets | 14% | 15% | 16% | 16% | 15% | 15% | 15% | 14% | -2.3% |
| Japan Australia and New Zealand | 9% | 10% | 9% | 9% | 8% | 8% | 8% | 8% | -3.1% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Insider filings
99 filings between Nov 3, 2025 and Aug 15, 2026.
Open market
decisions to buy or sellPurchases
$2.2K
1 purchase by 1 insider
Sales
$1.09M
2 sales by 1 insider
50% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 53
- Option exercise — converted options into shares
- 37
- Tax withheld — shares kept back by the company to cover tax
Also filed: 6 option exercises.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Campbell Paul | — | $1.09M | Jun 25, 2026 |
| SIMMONS DAVID S | $2.2K | — | Nov 3, 2025 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 15, 2026 | Enrietti Andrew See Remarks | Tax withheld | 10,931 | $177.4K |
| Aug 15, 2026 | Enrietti Andrew See Remarks | Option exercise | 25,134 | $0 |
| Aug 15, 2026 | Enrietti Andrew See Remarks | Option exercise | 999 | $0 |
| Aug 15, 2026 | Enrietti Andrew See Remarks | Tax withheld | 435 | $7.1K |
| Jun 25, 2026 | Campbell Paul See Remarks | Sale 10b5-1 plan | 50,076 | $809.8K |
| Apr 15, 2026 | Le Goff Corinne Chief Commercial Officer | Tax withheld | 17,450 | $241.9K |
| Apr 15, 2026 | Le Goff Corinne Chief Commercial Officer | Tax withheld | 1,617 | $22.4K |
| Apr 15, 2026 | Le Goff Corinne Chief Commercial Officer | Option exercise | 39,344 | $0 |
| Apr 15, 2026 | Le Goff Corinne Chief Commercial Officer | Option exercise | 3,644 | $0 |
| Mar 23, 2026 | Campbell Paul See Remarks | Sale | 21,350 | $283.5K |
| Mar 6, 2026 | CORNWELL W DON Director | Option exercise | 23,660 | $0 |
| Mar 6, 2026 | MARK RICHARD A Director | Option exercise | 23,660 | $0 |
| Mar 6, 2026 | PARRISH MARK W Director | Option exercise | 1,175 | $0 |
| Mar 6, 2026 | CORNWELL W DON Director | Option exercise | 1,175 | $0 |
| Mar 6, 2026 | HIGGINS MELINA E Director | Option exercise | 23,660 | $0 |
| Mar 6, 2026 | FINNEY ELISHA W Director | Option exercise | 1,175 | $0 |
| Mar 6, 2026 | FINNEY ELISHA W Director | Option exercise | 23,660 | $0 |
| Mar 6, 2026 | Groothuis Leo Frans Director | Option exercise | 1,175 | $0 |
| Mar 6, 2026 | Smith Scott Andrew Chief Executive Officer | Tax withheld | 2,433 | $34.5K |
| Mar 6, 2026 | Smith Scott Andrew Chief Executive Officer | Tax withheld | 48,999 | $693.8K |
| Mar 6, 2026 | Campbell Paul See Remarks | Tax withheld | 12,088 | $171.2K |
| Mar 6, 2026 | Groothuis Leo Frans Director | Tax withheld | 62 | $878 |
| Mar 6, 2026 | Enrietti Andrew See Remarks | Tax withheld | 8,337 | $118.1K |
| Mar 6, 2026 | HIGGINS MELINA E Director | Option exercise | 1,175 | $0 |
| Mar 6, 2026 | Groothuis Leo Frans Director | Tax withheld | 1,243 | $17.6K |
| Mar 6, 2026 | MARK RICHARD A Director | Option exercise | 1,175 | $0 |
| Mar 6, 2026 | Groothuis Leo Frans Director | Option exercise | 23,660 | $0 |
| Mar 6, 2026 | SEVERINO MICHAEL Director | Option exercise | 25,112 | $0 |
| Mar 6, 2026 | SEVERINO MICHAEL Director | Option exercise | 919 | $0 |
| Mar 6, 2026 | Vivaldi Coelho Rogerio Director | Option exercise | 23,660 | $0 |
| Mar 6, 2026 | Lyons Dillon JoEllen Director | Option exercise | 1,175 | $0 |
| Mar 6, 2026 | Lyons Dillon JoEllen Director | Option exercise | 23,660 | $0 |
| Mar 6, 2026 | DAMELIO FRANK A Director | Option exercise | 25,112 | $0 |
| Mar 6, 2026 | KILTS JAMES M Director | Option exercise | 1,175 | $0 |
| Mar 6, 2026 | Vivaldi Coelho Rogerio Director | Option exercise | 1,175 | $0 |
| Mar 6, 2026 | SIMMONS DAVID S Director | Option exercise | 22,820 | $0 |
| Mar 6, 2026 | SIMMONS DAVID S Director | Option exercise | 524 | $0 |
| Mar 6, 2026 | Smith Scott Andrew Chief Executive Officer | Option exercise | 124,519 | $0 |
| Mar 6, 2026 | KILTS JAMES M Director | Option exercise | 23,660 | $0 |
| Mar 6, 2026 | Smith Scott Andrew Chief Executive Officer | Option exercise | 6,182 | $0 |
| Mar 6, 2026 | DAMELIO FRANK A Director | Option exercise | 919 | $0 |
| Mar 6, 2026 | Campbell Paul See Remarks | Option exercise | 27,603 | $0 |
| Mar 6, 2026 | PARRISH MARK W Director | Option exercise | 23,660 | $0 |
| Mar 6, 2026 | Campbell Paul See Remarks | Option exercise | 1,371 | $0 |
| Mar 6, 2026 | Campbell Paul See Remarks | Tax withheld | 601 | $8.5K |
| Mar 6, 2026 | Enrietti Andrew See Remarks | Option exercised | 19,169 | $0 |
| Mar 6, 2026 | Mistras Theodora Chief Financial Officer | Option exercise | 41,711 | $0 |
| Mar 6, 2026 | Enrietti Andrew See Remarks | Option exercised | 952 | $0 |
| Mar 6, 2026 | Enrietti Andrew See Remarks | Tax withheld | 415 | $5.9K |
| Mar 6, 2026 | Mistras Theodora Chief Financial Officer | Tax withheld | 23,067 | $326.6K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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