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Dec 31, 2021
Gilead Sciences Q4 2021 Earnings Report
Announced results for the fourth quarter of 2021, with Biktarvy sales increasing year-over-year by 22% amid a decrease in total revenue due to reduced Veklury demand.
Key Takeaways
Gilead Sciences reported a 2% decrease in total Q4 2021 revenue to $7.2 billion, impacted by lower Veklury sales, but HIV product sales increased by 7%. Diluted EPS decreased to $0.30, and non-GAAP diluted EPS decreased to $0.69, primarily due to charges related to a legal settlement and the Arcus collaboration opt-in.
Total Q4 2021 revenue decreased by 2% year-over-year to $7.2 billion.
Biktarvy sales increased 22% year-over-year in Q4 2021.
Diluted EPS decreased to $0.30 for Q4 2021, while non-GAAP diluted EPS decreased to $0.69.
Gilead generated $3.2 billion in operating cash flow during Q4 2021.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Gilead provided full-year 2022 guidance, including total product sales between $23.8 billion and $24.3 billion, Veklury sales of approximately $2.0 billion, and non-GAAP earnings per share between $6.20 and $6.70.
Positive Outlook
- Total product sales between $23.8 billion and $24.3 billion.
- Total product sales, excluding Veklury, between $21.8 billion and $22.3 billion.
- Veklury sales of approximately $2.0 billion.
- Earnings per share between $4.70 and $5.20.
- Non-GAAP earnings per share between $6.20 and $6.70.
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.
- Uncertainty in potential revenues from Veklury.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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