Regeneron Q3 2020 Earnings Report
Key Takeaways
Regeneron reported a strong Q3 2020 with a 32% increase in revenue to $2.29 billion. GAAP diluted EPS was $7.39 and non-GAAP diluted EPS was $8.36. Key developments included positive results for REGN-COV2 in COVID-19 outpatients and FDA acceptance for priority review of Libtayo for advanced non-small cell lung cancer and basal cell carcinoma.
Third quarter 2020 revenues increased 32% to $2.29 billion versus third quarter 2019
Third quarter 2020 EYLEA® U.S. net sales increased 11% to $1.32 billion versus third quarter 2019
Third quarter 2020 Dupixent® global net sales increased 69% to $1.07 billion versus third quarter 2019
Third quarter 2020 GAAP diluted EPS was $7.39 and non-GAAP diluted EPS was $8.36
Regeneron
Regeneron
Regeneron Revenue by Segment
Regeneron Revenue by Geographic Location
Forward Guidance
Regeneron provided full year 2020 financial guidance which includes GAAP and Non-GAAP estimates for R&D, SG&A, COGS, COCM, Other operating (income) expense, net, Capital expenditures, and Effective tax rate (ETR).
Positive Outlook
- R&D: $2.750 billion–$2.820 billion
- SG&A: $1.425 billion–$1.475 billion
- COGS: $485 million–$525 million
- Capital expenditures: $570 million–$600 million
- Effective tax rate (ETR): 9–11%
Challenges Ahead
- R&D Non-GAAP: $2.420 billion–$2.470 billion
- SG&A Non-GAAP: $1.235 billion–$1.265 billion
- COGS Non-GAAP: $440 million–$470 million
- COCM: $595 million–$625 million
- Other operating (income) expense, net: ($180) million–($200) million