Regeneron Pharmaceuticals (NASDAQ:REGN) earnings for the biotechnology company’s third quarter of 2019 have REGN stock soaring on Tuesday. This is thanks to its adjusted EPS of $6.67 on revenue of $2.05 billion. These both easily beat out Wall Street’s estimates of $6.36 per share and $1.99 billion for the period.
Let’s see what else went right in the most recent Regeneron Pharmaceuticals earnings report.
- Adjusted per-share earnings are up 13.63% from the $5.87 reported during the same time last year.
- Revenue comes in 23.49% higher YoY from $1.66 billion in the third quarter of 2018.
- EYLEA sales in the U.S. were up 16% to $1.19 billion compared to Q3 2018.
- Global net sales for Dupixent increased by 141% YoY to $633 million.
- Operating income in the Regeneron Pharmaceuticals earnings report is sitting at $738.50 million.
- That’s a 17.80% increase over the company’s operating income of $626.90 million in the third quarter of the previous year.
- Net income of $669.60 million is a 12.60% increase over the $626.90 million in the same period of the year prior.
Leonard Schleifer, M.D., Ph.D., President and CEO of Regeneron, says this about the most recent REGN stock earnings.
“Regeneron delivered positive financial and operational results this quarter, marked by significant EYLEA and Dupixent sales growth and progress across our pipeline. We are broadening our efforts in retinal and type 2 inflammatory diseases, including initiating late-stage trials of Dupixent in additional type 2 diseases in the coming months.”
REGN stock was up 7.44% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
