Loading...
•
Sep 30, 2021
Gilead Sciences Q3 2021 Earnings Report
Reported a strong third quarter with positive momentum in commercial performance and pipeline progress.
Key Takeaways
Gilead Sciences announced its Q3 2021 financial results, with total revenue of $7.4 billion, a 13% increase compared to the same period in 2020. Biktarvy sales increased 20% year-over-year to a record $2.3 billion, and Veklury sales were $1.9 billion. The company updated its full-year guidance, expecting total product sales between $26.0 billion and $26.3 billion and non-GAAP earnings per share between $7.90 and $8.10.
Total third quarter 2021 revenue increased 13% to $7.4 billion compared to the same period in 2020.
Diluted Earnings Per Share increased to $2.05 for the third quarter 2021 compared to $0.29 for the same period in 2020.
Non-GAAP diluted EPS increased 26% to $2.65 for the third quarter 2021 compared to $2.11 for the same period in 2020.
Biktarvy sales increased 20% year-over-year in the third quarter 2021 to record $2.3 billion.
Gilead Sciences
Gilead Sciences
Gilead Sciences Revenue by Segment
Gilead Sciences Revenue by Geographic Location
Revenue by Segment
HIV Revenue
CapyFin.comRevenue by Geographic Location
U.S. Revenue
CapyFin.comEurope Revenue
CapyFin.comRest of World Revenue
CapyFin.com Forward Guidance
Gilead has updated its full-year guidance and now expects total product sales between $26.0 billion and $26.3 billion and non-GAAP earnings per share between $7.90 and $8.10.
Positive Outlook
- Total product sales between $26.0 billion and $26.3 billion, compared to $24.4 billion and $25.0 billion previously.
- Total product sales, excluding Veklury, of approximately $21.5 billion.
- Total Veklury sales between $4.5 billion and $4.8 billion, compared to $2.7 billion and $3.1 billion previously.
- GAAP earnings per share between $5.50 and $5.70, compared to $4.70 and $5.05 previously.
- Non-GAAP earnings per share between $7.90 and $8.10, compared to $6.90 and $7.25 previously.
Challenges Ahead
- Uncertainty around the duration and magnitude of the COVID-19 pandemic.
- Potential adverse revenue impacts from COVID-19.
- Increases in R&D expenses.
- Potential revenues from Veklury.
- Broader market dynamics may impact Gilead’s business.