Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Q1 2024 Results Earnings Conference Call May 3, 2024 8:30 AM ET
Company Participants
Tony DiMeo - Head of Investor Relations
Chirag Patel - President and Co-Chief Executive Officer
Chintu Patel - Co-Chief Executive Officer
Tasos Konidaris - Executive Vice President and Chief Financial Officer
Joe Renda - Senior Vice President, Chief Commercial Officer, Specialty
Conference Call Participants
Nathan Rich - Goldman Sachs
Leszek Sulewski - Truist Securities
David Amsellem - Piper Sandler
Balaji Prasad - Barclays Capital
Chris Schott - J.P. Morgan
Operator
Good morning and welcome to Amneal Pharmaceuticals First Quarter 2024 Earnings Call. I will now turn the call over to Amneal's Head of Investor Relations, Tony DiMeo.
Tony DiMeo
Good morning. And thank you for joining Amneal Pharmaceuticals first quarter 2024 earnings call. Today, we issued a press release reporting Q1 results. The earnings press release and presentation are available at amneal.com.
Certain statements made on this call regarding matters that are not historical facts, including, but not limited to, management's outlook or predictions, are forward-looking statements that are based solely on information that is now available to us. Please see the section entitled Cautionary Statements on Forward-Looking Statements for factors that may impact future performance.
We also discuss non-GAAP measures. Information on use of these measures and reconciliations to GAAP are in the earnings release and presentation.
On the call today are Chirag and Chintu Patel, Co-Founders and Co-CEOs; Tasos Konidaris, CFO; our commercial leaders, Andy Boyer for Generics, Joe Renda for Specialty; and Jason Daly, Chief Legal Officer.
I will now hand the call over to Chirag.
Chirag Patel
Thank you, Tony. Good morning to everyone. Our first quarter performance was outstanding. Record Q1 revenues of $659 million grew 18%. For the first time, all three of our segments generated double-digit growth in the same quarter.
Q1 adjusted EBITDA of $152 million grew by 31% as strong execution continues to drive sustainably higher levels of profits. As momentum builds across Amneal, we are confident in our ability to achieve our financial commitments for 2024 and beyond.
Our strategic vision for Amneal is to be a global, diversified pharmaceutical company that provides patients, providers, and payers with access to high quality, affordable, and essential medicines.
In the United States, Amneal fills approximately 175 million prescriptions per year. In retail pharmacies, we provide complex genetics medicines such as transdermals, topicals, oral solids, and ophthalmics. For hospitals and clinics, we supply important acute care injectables where there are chronic shortages. In biosimilars, we are expanding access to oncology therapies and adding more to our portfolio.