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Jun 30, 2024
Jazz Pharmaceuticals Q2 2024 Earnings Report
Reported record revenues driven by strong execution and increased demand for key growth drivers.
Key Takeaways
Jazz Pharmaceuticals announced strong Q2 2024 results with total revenues of over $1 billion, driven by Xywav, Epidiolex and Rylaze. The company is narrowing its 2024 total revenue guidance to $4.0 to $4.1 billion and affirming GAAP and non-GAAP adjusted net income guidance.
Xywav net product sales grew 13% year-over-year.
Epidiolex/Epidyolex net product sales grew 22% year-over-year.
Rylaze/Enrylaze net product sales grew 6% year-over-year.
Zanidatamab granted Priority Review by U.S. FDA for 2L BTC with a PDUFA date of November 29, 2024.
Revenue by Segment
Forward Guidance
Jazz Pharmaceuticals is narrowing its 2024 total revenue guidance to $4.0 to $4.1 billion and affirming GAAP and non-GAAP adjusted net income guidance.
Positive Outlook
- Narrowing 2024 total revenue guidance range to $4.0 to $4.1 billion.
- Narrowing Neuroscience guidance to $2.825 to $2.925 billion.
- Affirming GAAP net income guidance of $385 to $530 million.
- Affirming non-GAAP adjusted net income guidance of $1.275 to $1.350 billion.
- Raising GAAP EPS guidance range by approximately $1.00 to $6.00 to $8.00 and non-GAAP EPS guidance to $19.20 to $20.30.
Challenges Ahead
- Lowering Oncology guidance to $1.10 to $1.15 billion.
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
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