Lantheus Q1 2024 Earnings Report
Key Takeaways
Lantheus Holdings, Inc. reported a strong first quarter in 2024, with worldwide revenue increasing by 23.0% to $370.0 million. GAAP fully diluted net income per share was $1.87, compared to a loss of $0.04 in the same period last year. The company has raised its full-year 2024 revenue and earnings guidance.
Worldwide revenue increased by 23.0% to $370.0 million compared to Q1 2023, driven by PYLARIFY and DEFINITY sales.
PYLARIFY net product sales increased by 32.4% to $258.9 million due to increased utilization and market expansion.
DEFINITY net product sales increased by 11.2% to $76.6 million.
GAAP fully diluted net income per share increased to $1.87, compared to a net loss per share of $(0.04) in the prior year period.
Lantheus
Lantheus
Lantheus Revenue by Segment
Forward Guidance
The Company increases full year 2024 net revenue and earnings guidance and provides guidance for the second quarter 2024
Positive Outlook
- Q2 FY 2024 Revenue: $380 million - $390 million
- Q2 FY 2024 Adjusted Fully Diluted EPS: $1.81 - $1.86
- FY 2024 Revenue: $1.50 billion - $1.52 billion
- FY 2024 Adjusted Fully Diluted EPS: $7.00 - $7.20
Challenges Ahead
- The Company does not provide GAAP income per common share guidance
- The Company is unable to predict with reasonable certainty business development and acquisition related expenses, purchase accounting fair value adjustments, and any one-time, non-recurring charges.
- These items are uncertain, depend on various factors, and could be material to results computed in accordance with GAAP.
- A quantitative reconciliation of adjusted fully diluted EPS on a forward-looking basis is not available without unreasonable effort.