Lantheus Holdings (NASDAQ: LNTH) reported Q2 EPS of $0.10, $0.04 better than the analyst estimate of $0.06. Revenue for the quarter came in at $66.01 million versus the consensus estimate of $57.4 million.

• Completed acquisition of Progenics Pharmaceuticals, Inc., adding robust portfolio of oncology therapeutics and diagnostics to pipeline
• Worldwide revenue of $66.0 million for the second quarter 2020, representing a decrease of 23.0% from the prior year period
• Net loss of $7.0 million for the second quarter 2020, compared to net income of $6.4 million in the prior year period
• GAAP diluted EPS of $(0.16) for the second quarter 2020, compared to GAAP diluted EPS of $0.16 in the prior year period; adjusted diluted EPS of $0.10 for the second quarter 2020, compared to adjusted diluted EPS of $0.27 in the prior year period
• Net cash used in operating activities was $2.2 million for the second quarter 2020. Free cash flow was a use of $4.4 million in the second quarter 2020

“As we continue to navigate through the COVID-19 global pandemic, the health and safety of our employees, patients, and other partners in the healthcare community remain our top priority. We closed our acquisition of Progenics in June and are now integrating our portfolio of innovative products and product candidates to enhance our diagnostic and therapeutic footprint,” said Mary Anne Heino, President and CEO. “Procedures utilizing our products for the second quarter were impacted by COVID-related hospital and customer restrictions. However, we demonstrated an impressive month-to-month recovery in our business as healthcare markets across the U.S. began to re-open. As we look to the future, our focus will be on unlocking value across our newly combined company including our exciting portfolio of opportunities.”

Outlook

On April 9, 2020, the Company withdrew full year 2020 revenue, revenue growth, and adjusted fully diluted earnings per share guidance as a result of the continued uncertainties surrounding the scope, duration and impacts of the COVID-19 pandemic. Due to these uncertainties, and uncertain timing of global recovery and economic normalization, Lantheus continues to be unable to provide guidance as to the overall impacts on its operations and financial results during the ongoing pandemic.

For earnings history and earnings-related data on Lantheus Holdings (LNTH) click here.