ENDO - Endo slumps 19% despite Q2 beat are fears of bankruptcy creeping in?

• Endo ( OTC:ENDO ) shows a topline beat with revenue at $569.11M, down 20% Y/Y; the drop was primarily attributable to decreased revenues from our Sterile Injectables segment, partially offset by increased revenues from our Generic Pharmaceuticals segment.
• Loss from continuing operations $1.88B vs. $10M in Q2 2021.
• Company had ~$1.2B in unrestricted cash; $8.1B of debt; and a net debt to adjusted EBITDA ratio of 5.6.
• Net cash used in operating activities was $133M vs. $155M provided by operating activities during Q2.
• Non-GAAP EPS of -$0.03 beats consensus by $0.11.
• Company has a Strong Sell rating by author who write: ' Rumors of negotiations with secured creditors occurring before the bankruptcy filing. ' and ' Possibly impairment of first lien debt and near certain impairment of second lien debt means zero equity value. '
• Quant rating of Hold with lowest factor grades given to momentum and growth.
• Sell-side analyst rating of Hold with an average price target of $1.33.
• Stock down 19% pre-market.
• Previously (Aug. 9): Endo Non-GAAP EPS of -$0.03 beats by $0.11, revenue of $569.11M beats by $44.54M

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