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Dec 31, 2025
Viatris Q4 2025 Earnings Report
Viatris reported fourth-quarter 2025 revenues of $3.7 billion with improved adjusted earnings and EBITDA despite a GAAP net loss.
Key Takeaways
Viatris delivered Q4 2025 total revenues of 3703600000, up 5% year over year, driven by strength in Brands and Emerging Markets. The company reported a GAAP net loss of -340100000, while adjusted net earnings were 658700000 and adjusted EBITDA reached 1003100000. Free cash flow totaled 619300000 in the quarter.
Total revenues increased 5% year over year to 3703600000, led by Brands growth.
Adjusted net earnings were 658700000 with adjusted EPS of 0.57.
Adjusted EBITDA rose to 1003100000, up 2% year over year.
Free cash flow improved significantly to 619300000 compared to prior year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For 2026, Viatris expects total revenues between 14450000000 and 14950000000 and adjusted EBITDA between 4150000000 and 4450000000, with adjusted EPS guidance of 2.33 to 2.47.
Positive Outlook
- Projected 2026 revenue midpoint of 14700000000 indicates return to growth.
- Adjusted EBITDA guidance midpoint of 4300000000 reflects operational strength.
- Expected free cash flow excluding special costs between 1950000000 and 2350000000.
- Anticipated regulatory decisions for six product candidates in 2026.
- Enterprise-wide strategic review expected to deliver up to 700000000 in cost savings.
Challenges Ahead
- Expected restructuring charges between 700000000 and 850000000 pre-tax.
- Global workforce reduction of up to approximately 10%.
- Manufacturing disruption at Nashik facility due to fire incident.
- Ongoing exposure to regulatory and pricing pressures in key markets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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