Regeneron Pharmaceuticals earnings for the first quarter of 2019 have REGN stock falling on Tuesday.
Regeneron Pharmaceuticals (NASDAQ:REGN) reported earnings per share of $4.45 for the first quarter of the year. This is a drop from the company’s earnings per share of $4.67 from the first quarter of 2018. It was also a major blow to REGN stock by coming in short of Wall Street’s earnings per share estimate of $5.46 for the period.
The Regeneron Pharmaceuticals earnings report for the first quarter of 2019 also includes net income of $461 million. That’s down from the company’s net income of $478 million reported in the same period of the year prior.
Operating income reported by Regeneron Pharmaceuticals in its earnings report for the first quarter of the year comes in at $480 million. This is a decrease from the company’s operating income of $567 million reported in the first quarter of the previous year.
Regeneron Pharmaceuticals earnings for the first quarter of 2019 has revenue coming in at $1.71 billion. This is better than the company’s revenue of $1.51 billion reported during the same time last year. However, it was bad news for REGN stock by missing analysts’ revenue estimate of $1.76 billion for the quarter.
Regeneron Pharmaceuticals notes that it is now expecting lower reimbursement from Sanofi (NASDAQ:SNY) for 2019. This has it expecting reimbursement between $500 million and $535 million. It was previously expecting this to be in the range of $510 million to $560 million.
REGN stock was down 5% as of Tuesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.