Loading...
•
Jun 30, 2023
Biogen Q2 2023 Earnings Report
Biogen's performance reflected advancements in science and strategic resource allocation.
Key Takeaways
Biogen reported Q2 2023 results with a revenue of $2,456 million and GAAP diluted EPS of $4.07. The company is focused on shifting resources to high-value creation areas, including investments in prioritized pipeline and new product launches, alongside cost-saving initiatives.
Second quarter revenue was $2,456 million.
GAAP diluted EPS was $4.07, while non-GAAP diluted EPS was $4.02.
LEQEMBI was launched in the U.S.
A new 'Fit for Growth' program is expected to generate approximately $1 billion in gross operating expense savings.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Biogen is reaffirming its full year 2023 guidance.
Positive Outlook
- Total revenue is expected to decline by a mid-single digit percentage versus reported full year 2022.
- Non-GAAP diluted EPS is projected to be between $15.00 and $16.00.
- Guidance assumes that foreign exchange rates as of June 30, 2023, will remain in effect for the remainder of the year, net of hedging activities.
- This financial guidance does not include any impact from potential acquisitions or large business development transactions or pending and future litigation, as all are hard to predict, or any impact of potential tax or healthcare reform.
- Biogen may incur charges, realize gains or losses, or experience other events or circumstances in 2023 that could cause any of these assumptions to change and/or actual results to vary from this financial guidance.
Challenges Ahead
- Biogen does not provide guidance for GAAP reported financial measures (other than revenue).
- The company is unable to predict with reasonable certainty the financial impact of items such as the transaction, integration, and certain other costs related to acquisitions or large business development transactions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...