Sep 30, 2024

Alkermes Q3 2024 Earnings Report

Reported strong year-over-year growth of proprietary commercial products and reiterated 2024 financial expectations.

Key Takeaways

Alkermes reported third-quarter revenues of $378.1 million, with net sales of proprietary products increasing approximately 18% year-over-year. GAAP net income from continuing operations was $92.8 million, with diluted GAAP earnings per share from continuing operations of $0.56. The company reiterated its 2024 financial expectations.

Third quarter revenues reached $378.1 million.

Net sales of proprietary products increased approximately 18% year-over-year.

GAAP net income from continuing operations was $92.8 million, with diluted GAAP earnings per share of $0.56.

Company reiterated its 2024 financial expectations.

Total Revenue
$378M
Previous year: $381M
-0.7%
EPS
$0.72
Previous year: $0.64
+12.5%
Gross Profit
$315M
Previous year: $319M
-1.4%
Cash and Equivalents
$928M
Previous year: $996M
-6.8%
Free Cash Flow
$73.3M
Previous year: $85.3M
-14.0%
Total Assets
$2.16B
Previous year: $2.28B
-5.4%

Alkermes

Alkermes

Alkermes Revenue by Segment

Forward Guidance

Alkermes reiterated its financial expectations for 2024, as set forth in its press release dated Feb. 15, 2024.

Revenue & Expenses

Visualization of income flow from segment revenue to net income