Teva Q1 2023 Earnings Report
Key Takeaways
Teva Pharmaceutical Industries Ltd. reported flat revenues of $3.661 billion for Q1 2023 compared to Q1 2022. However, in local currency terms, revenues increased by 4%. The company reported a GAAP loss per share of $0.18 and a non-GAAP diluted EPS of $0.40. Teva reaffirms its 2023 non-GAAP outlook.
Revenues reached $3.7 billion, a 4% increase in local currency terms.
Solid growth experienced across all regions, including Europe (9%), International Markets (8%), and North America (2%).
Innovative brands performed well, with AUSTEDO growing 10% year-over-year and AJOVY growing 35% across all regions in local currency.
AUSTEDO XR and UZEDY received recent approvals, with UZEDY expected to be available in the U.S. in the coming weeks.
Teva
Teva
Teva Revenue by Segment
Teva Revenue by Geographic Location
Forward Guidance
Teva reaffirms its full year 2023 business outlook, which includes revenue, Adjusted EBITDA, Non-GAAP diluted EPS, and free cash flow.
Positive Outlook
- Revenues of $14.8 - $15.4 billion
- Adjusted EBITDA of $4.5 - $4.9 billion
- Non-GAAP diluted EPS of $2.25 - $2.55
- Free cash flow of $1.7 - $2.1 billion
- Gross profit margin to improve in the coming quarters due to improved portfolio mix driven by our innovative products, namely AUSTEDO®, AJOVY® and UZEDY™, as well as by lower COGS, driven by supply chain enhancements and easing of certain elements of inflationary pressure.
Revenue & Expenses
Visualization of income flow from segment revenue to net income