11/8/2023 1:56 PM, GILD
The American pharmaceutical company Gilead Sciences has published its financial results for the third quarter of 2023.
| Gilead Sciences (GILD) 3Q 2023 Results | |||
|---|---|---|---|
| 3Q 2023 | Consensus 3Q 2023 | 3Q 2022 | |
| Sales (billion USD) | 7.05 | 6.79 | 7.04 |
| The net profit (million USD) | 2.17 | — | 1.79 |
| Diluted earnings per share (EPS, USD/share) | 2.29 | 1.92 | 1.90 |
The results
Gilead’s revenue rose 0.1% year-over-year, with gross margin coming in at an expected 85.9%. In 3Q last year, it reached 86.8%. Adjusted R&D spending rose 24% year-over-year to $1.45 billion. Analysts had expected $1.38 billion.
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The company predicts 2023 adjusted earnings per share in the range of $6.65 to $6.85 per share. It had previously expected a range of $6.45 to $6.80 per share. Analysts had expected $6.61 per share. The company expects product revenue to be in the range of $26.7 billion to $26.9 billion, up from its previous estimate of $26.3 billion to $26.7 billion. Analysts had expected $26.56 billion.
The word CEO
CEO Daniel O’Day said: “Gilead has now delivered 2 years of consistent growth in our core business. In the third quarter, growth was supported by both virology and oncology. The clinic segment also remained strong. Highlights of this quarter were new data on the drug Trodelvy, in virology we completed the third phase of tests of the drug lenacapavir for the prevention of HIV and the oral drug obeldesivir for Covid-19. We look forward to progressing these drugs and other potential options for patients in the coming months.”
Gilead shares
Shares of Gilead ( GILD ) shed 1.92% to $79.06 in premarket trading.
Gilead Sciences stock performance
| Shares of Gilead Sciences Inc ( GILD ) closed down 0.7% at $80.61 yesterday | |||
|---|---|---|---|
| Pointer | Pointer | ||
| Capitalization (billion USD) | 100.4 | P/E | 13.5 |
| Development for this year (%) | -6.1 | Expected P/E | 12.1 |
| 52 week minimum (USD) | 72.9 | Avg. target price (USD) | 90.3 |
| 52 week high (USD) | 89.7 | Dividend yield (%) | 3.7 |
Source: Bloomberg, Gilead Sciences
Aleš Mendl, Fio banka, as
