• Sun. Apr 14th, 2024

Gilead Sciences’ Q2 Beats Street View On Robust Oncology, HIV Product Sales

ByVandana Singh

Aug 3, 2022
Gilead Sciences' Q2 Beats Street View On Robust Oncology, HIV Product Sales

  • Gilead Sciences Inc GILD reported Q2 sales of $6.26 billion, +1% Y/Y, beating the consensus of $5.86 billion, driven by increased sales of HIV and oncology products, partially offset by decreased sales of Veklury (remdesivir) and hepatitis C virus products.
  • Q2 product sales were $6.1 billion, flat Y/Y and excluding Veklury, increased 7% to $5.7 billion.
  • HIV product sales increased 7% to $4.2 billion, reflecting a higher average realized price and demand for treatment and pre-exposure prophylaxis medicines.
  • Hepatitis C virus sales decreased 18% to $448 million.
  • Cell therapy product sales increased 68% to $368 million.
  • Veklury sales decreased by 46% to $445 million.
  • Q2 adjusted EPS decreased 13% to $1.58, beating the consensus of $1.53.
  • Dividend: Gilead declared a quarterly dividend of $0.73/share payable on September 29 for the record date of September 15.
  • FY22 Outlook: Gilead forecasts FY22 product sales of $24.5 billion – $25 billion, compared to the previous guidance of $23.8 billion – $24.3 billion.
  • The company expects Veklury sales of approximately $2.5 billion, compared to ~$2 billion expected earlier.
  • It expects adjusted EPS of $6.35 – $6.75, up from $6.20 – $6.70 earlier guidance, and a consensus of $6.57.
  • Price Action: GILD shares are up 1.97% at $60.71 during the pre-market session on Wednesday.

Image and article originally from www.benzinga.com. Read the original article here.