Viatris Inc. (NASDAQ:VTRS) Q1 2024 Earnings Call Transcript May 9, 2024 8:30 AM ET
Company Participants
Bill Szablewski - Head of Capital Markets
Scott Smith - CEO
Philippe Martin - Chief R&D Officer
Doretta Mistras - CFO
Conference Call Participants
Nathan Rich - Goldman Sachs
Bhavin Patel - Bank of America
Glen Santangelo - Jefferies
Ash Verma - UBS
Chris Schott - JPMorgan
David Amsellem - Piper Sandler
Balaji Prasad - Barclays
Operator
Good morning and welcome to Viatris Q1 2024 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note that today’s event is being recorded. I would now like to turn the conference over to Bill, Viatris Head of Capital Markets. Please go-ahead, sir.
Bill Szablewski
Good morning, everyone. Welcome to our Q1 2024 earnings call. With us today is our CEO, Scott Smith; CFO, Doretta Mistras; and Chief R&D Officer, Philippe Martin.
During today's call, we will be making forward-looking statements on a number of matters, including our financial guidance for 2024 and various strategic initiatives. These statements are subject to risks and uncertainties. We will also be referring to certain actual and projected non-GAAP financial measures. Please refer to today's slide presentation and our SEC filings for more information, including reconciliations of those non-GAAP measures to most directly comparable GAAP measures.
When discussing 2024 actual results, we will be making certain comparisons to 2023 results on a divestiture adjusted operational basis, which excludes the impact of foreign currency rates and also excludes the proportionate results from the divestitures that closed in '24 and '23 from the 2023 period. When discussing our expectations for 2024, we will be making certain comparisons to 2024 results on a divestiture adjusted operational basis, which excludes the impact of foreign currency rates and also excludes from guidance the forecasted results from the date of closing until the end of the period for the divestitures that closed in 2024.
With that, I'll hand the call over to our CEO, Scott Smith.
Scott Smith
Good morning. Our first-quarter financial results demonstrate continued execution against our business fundamentals, which includes maintaining base business stability while driving new product revenue and executing on our vision for future growth. We are making progress on all our key priorities, including completing planned divestitures, continuing to pay down debt, increasing shareholder return, fueling our base business, and importantly, making strategic investments in future growth.