ANI Pharmaceuticals beats Q1 expectations on strong earnings and revenue

ANI Pharmaceuticals (NASDAQ:ANIP) announced stronger-than-expected first-quarter financial results on Friday, reporting earnings and revenue that surpassed Wall Street forecasts.

The Baudette, Minnesota-based drugmaker posted a net income of $15.7 million for the quarter.

This translated to earnings of 69 cents per share.

On an adjusted basis, excluding one-time gains and costs, the company's earnings came in at $1.70 per share.

These results significantly beat analyst expectations.

A survey of six analysts by Zacks Investment Research had an average estimate of $1.37 per share for adjusted earnings.

ANI Pharmaceuticals also reported robust revenue for the period, reaching $197.1 million.

This figure also exceeded Street predictions, as seven analysts surveyed by Zacks had projected revenue of $179.5 million.

Looking ahead, ANI provided its full-year guidance.

The company expects full-year earnings to be in the range of $6.27 to $6.62 per share, with anticipated revenue between $768 million and $793 million.