EGRX - Eagle Pharmaceuticals stock gains on raising its 2023 adjusted EPS and EBITDA outlook

2023-07-31 07:28:43 ET

• Eagle Pharmaceuticals ( NASDAQ: EGRX ) has raised its Adjusted non-GAAP EPS and Adjusted non-GAAP EBITDA guidance for FY2023.
• The stock increased 3% during Monday's premarket hours.
• The pharmaceutical company now sees adjusted EPS in the range of $4.40 to $4.70, up from the previously disclosed estimated range of $4.20 to $4.53 vs. the consensus of $4.27, and adjusted EBITDA in the range of $78 million to $84 million, up from the previously disclosed estimated range of $74 million to $80 million.
• The company reiterated its FY2023 outlook for Adjusted non-GAAP research and development of $41 million to $45.0 million and Adjusted non-GAAP SG&A of $86 million to $90 million.
• "Due to the strength and momentum of our business, we are raising our full-year Adjusted non-GAAP EPS and Adjusted non-GAAP EBITDA guidance. Our previously disclosed Adjusted non-GAAP research and development and Adjusted non-GAAP SG&A expense ranges remain the same as we continue to invest in our robust pipeline of products. We look forward to sharing additional details during our second quarter earnings call on August 8 ^th ," stated Scott Tarriff, President and Chief Executive Officer of Eagle Pharmaceuticals.

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