VTRS · Earnings call · 2026Q2T · Full report
Free Cash Flow and Liquidity
Viatris Inc · 2026-08-06 · Importance 30 · Surprise 40 · In source text
Viatris generated $329 million of second-quarter free cash flow, including transaction and restructuring-related costs and taxes. Excluding those items, free cash flow was $449 million, with the year-over-year improvement driven by stronger operating performance and favorable working capital. Management expects free cash flow to be more heavily weighted to the second half of 2026. The company expects approximately $1.6 billion of deployable capital for the rest of the year, including $380 million of pretax proceeds from the Biocon equity-stake sale.
Key facts
- For the remainder of 2026, Viatris expects to have approximately $1.6 billion in deployable capital, including approximately $380 million of pretax proceeds from sale of Biocon equity stake
- Monetization of Biocon equity stake contributed approximately $380 million pretax proceeds included in deployable capital
- Free cash flow excluding transaction and restructuring-related costs and taxes would have been $449 million in Q2 2026
- Free cash flow is expected to be more heavily weighted to the second half of 2026
- Free cash flow generated in Q2 2026: $329 million (inclusive of transaction and restructuring-related costs and taxes)
- Year-over-year free cash flow improvement primarily driven by stronger operating performance and favorable working capital dynamics
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | probable | — | For the remainder of 2026, Viatris expects to have approximately $1.6 billion in deployable capital, including approximately $380 million… |
| cash | positive | probable | — | For the remainder of 2026, Viatris expects to have approximately $1.6 billion in deployable capital, including approximately $380 million… |