Want to see AMPH full AI Analyst Report?
EarningsQ2 2026 Earnings Report
AMPH Q2 2026 EPS Results
Actual EPS$0.91
Consensus EPS$0.62
Beat/MissBeat by +$0.29
One Year Ago EPS$0.85
AMPH Q2 2026 Revenue Results
Actual Revenue$183.90M
Expected Revenue$179.92M
Beat/MissBeat by +$3.98M
YoY Revenue Growth+5.44%
Earnings Announcement Details
QuarterQ2 2026
Date08/06/2026
TimeAfter Close
Conference CallThursday, August 6, 2026
AMPH Upcoming Earnings
Amphastar Pharmaceuticals's next earnings date is estimated for November 9, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
AMPH Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a mix of positive operational execution and material near-term challenges. Key positives include 5% revenue growth to $183.9M, gross margin expansion to 51%, successful new product launches (ipratropium bromide and other recent launches), strong BAQSIMI prescription growth (up ~17%) and a contract-year BAQSIMI milestone triggering a $100M payment in Q3. The company generated meaningful operating cash flow (~$51.3M) and repurchased ~$45M of stock, and advanced its development pipeline toward potential 2027 commercialization of the insulin aspart biosimilar and early-stage proprietary programs. On the negative side, the IMS FDA warning letter and related remediation will add $2–3M per quarter in expenses and could slow IMS sales and batch releases; glucagon sales declined sharply (-42% YoY) and several operating expense categories rose substantially (SG&A and G&A +30%). Management still maintained full-year sales guidance and emphasized diversification and U.S. manufacturing investments. Balancing the operational progress, financial improvements, and the notable regulatory and cost headwinds, the overall tone is cautiously constructive.Company Guidance
Revenue Growth and Improved Profitability
Total revenue increased 5% year-over-year to $183.9 million (Q2 2026 vs $174.4M prior year). Reported net income was $30.3 million (slight decrease vs $31M prior year) while GAAP EPS increased to $0.67 from $0.64 and adjusted EPS increased to $0.91 from $0.85, reflecting improved per-share results.
Gross Margin Expansion and Strong Contribution from New Launches
Gross margin improved to 51% of revenues versus 50% in the prior-year period. Higher-margin recently launched products (ipratropium bromide HFA, teriparatide, iron sucrose) aided margins; ipratropium generated $8.4 million in sales following its April launch. Sales of 'other products' rose 25% to $66.2 million driven by new launches and demand shifts.
BAQSIMI Prescription Growth and Milestone Achievement
Total BAQSIMI prescriptions increased approximately 17% year-over-year, reinforcing franchise demand. BAQSIMI net sales were ~$45.5 million (down ~3% YoY due to pricing/rebates). Crucially, BAQSIMI generated $178.3 million in net sales during the contract year, exceeding the $175 million threshold and triggering a $100 million milestone payment due in Q3 2026.
Solid Cash Generation and Capital Deployment
Operating cash flow of approximately $51.3 million in the quarter. Management accelerated the share repurchase program and repurchased about $45 million of stock during Q2, supporting EPS and shareholder returns.
Progress on Development Pipeline
Advance toward commercialization of the insulin aspart biosimilar (on track for potential 2027 commercialization, subject to approval). Initiation of phase I for AMP-101 (epinephrine nasal), AMP-109 non-clinical work with constructive FDA feedback and planned IND preparation, and development activities ongoing for AMP-110 and AMP-107 — demonstrating continued pipeline momentum across biologic, proprietary and complex generics programs.
Manufacturing Execution and U.S. Manufacturing Investment
Successful commercial launch and production at the Armstrong facility (ipratropium bromide) showcased ability to advance complex generics to commercial manufacturing. Company is investing in U.S. manufacturing automation, capacity and quality to support future launches and leverage domestic manufacturing as a competitive advantage.
Maintained Full-Year Sales Guidance
Despite remediation needs at IMS, management maintained 2026 corporate sales guidance of mid-single digit to high-single-digit growth, indicating confidence in the broader portfolio and offsetting drivers.
AMPH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed