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Dec 31, 2023
Gilead Sciences Q4 2023 Earnings Report
Gilead Sciences reported a decrease in total revenue due to lower Veklury and HIV sales, offset by higher Oncology sales.
Key Takeaways
Gilead Sciences announced its Q4 2023 financial results, with total revenue decreasing by 4% to $7.1 billion. The decrease was primarily due to lower Veklury and HIV sales, offset by higher Oncology sales. Diluted EPS decreased to $1.14, while non-GAAP diluted EPS increased to $1.72.
Total revenue decreased 4% to $7.1 billion compared to Q4 2022.
HIV product sales decreased 2% to $4.7 billion.
Oncology sales increased 24% year-over-year.
Diluted EPS decreased to $1.14, while Non-GAAP diluted EPS increased to $1.72.
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 provided full-year 2024 guidance, including total product sales between $27.1 billion and $27.5 billion, and non-GAAP diluted EPS between $6.85 and $7.25.
Positive Outlook
- Total product sales between $27.1 billion and $27.5 billion.
- Total product sales, excluding Veklury, between $25.8 billion and $26.2 billion.
- Total Veklury sales of approximately $1.3 billion.
- Diluted EPS between $5.15 and $5.55.
- Non-GAAP diluted EPS between $6.85 and $7.25.
Challenges Ahead
- Guidance is subject to risks and uncertainties.
- Uncertainty of the amount and timing of Veklury revenues.
- Gilead's ability to make progress on any of its long-term ambitions or strategic priorities laid out in its corporate strategy.
- Gilead’s ability to accelerate or sustain revenues for its virology, oncology and other programs.
- Gilead’s ability to realize the potential benefits of acquisitions, collaborations or licensing arrangements