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Sep 30, 2024
Royalty Pharma Q3 2024 Earnings Report
Royalty Pharma reported strong Q3 2024 results with a 15% increase in Portfolio Receipts and raised full-year guidance.
Key Takeaways
Royalty Pharma reported a strong third quarter with a 15% increase in Portfolio Receipts to $735 million. The company also increased its capital deployment to $1.2 billion and raised its full-year guidance for Portfolio Receipts to $2.75 to $2.8 billion.
Portfolio Receipts grew by 15% to $735 million.
Royalty Receipts increased by 15%, driven by Trelegy, Evrysdi, the cystic fibrosis franchise, and Tremfya.
Capital Deployment reached approximately $1.2 billion.
Full year 2024 guidance for Portfolio Receipts was raised to $2,750 to $2,800 million.
Royalty Pharma
Royalty Pharma
Royalty Pharma Revenue by Segment
Revenue by Segment
Cystic Fibrosis Franchise Revenue
CapyFin.comTrelegy Revenue
CapyFin.comTysabri Revenue
CapyFin.comEvrysdi Revenue
CapyFin.comImbruvica Revenue
CapyFin.comTremfya Revenue
CapyFin.comOther Products Revenue
CapyFin.com Forward Guidance
Royalty Pharma expects 2024 Portfolio Receipts to be between $2,750 million and $2,800 million, which includes expected Royalty Receipts growth of 11% to 13%.
Positive Outlook
- Portfolio Receipts are expected to be between $2,750 million and $2,800 million.
- Royalty Receipts are expected to grow 11% to 13%.
- Guidance excludes new transactions and borrowings announced after the date of the release.
- Guidance reflects a negligible estimated foreign exchange impact to Portfolio Receipts.
- Interest paid is anticipated to be a de minimis amount in the fourth quarter of 2024.
Challenges Ahead
- Guidance excludes new transactions and borrowings announced after the date of the release.
- Guidance assumes no major unforeseen adverse events.
- Guidance assumes no changes in foreign exchange rates.
- Total interest paid is based on the semi-annual interest payment schedule of Royalty Pharma’s existing notes.
- Projection assumes no additional debt financing in 2024, including no drawdown on the revolving credit facility.
Revenue & Expenses
Visualization of income flow from segment revenue to net income