Royalty Pharma Q2 2023 Earnings Report
Key Takeaways
Royalty Pharma reported strong financial performance in Q2 2023, with Adjusted Cash Receipts increasing by 4% to $545 million. The company raised its full-year 2023 guidance for Adjusted Cash Receipts to $2.900 to $2.975 billion. Transactions of up to $1.7 billion were announced year-to-date, including $659 million in upfront payments.
Net cash provided by operating activities (GAAP) increased 6% to $608 million.
Adjusted Cash Receipts (non-GAAP) grew 4% to $545 million, driven by strong portfolio performance and new royalties.
Adjusted EBITDA increased 4% to $498 million and Adjusted Cash Flow increased 6% to $512 million.
The company raised its 2023 Adjusted Cash Receipts guidance to $2,900 to $2,975 million.
Royalty Pharma
Royalty Pharma
Forward Guidance
Royalty Pharma anticipates 2023 Adjusted Cash Receipts to be between $2,900 million and $2,975 million, excluding future transactions.