Biopharmaceutical company Gilead Sciences (NASDAQ: GILD) will be announcing earnings results this Thursday after market close. Here’s what to expect.
Gilead Sciences beat analysts’ revenue expectations by 1.1% last quarter, reporting revenues of $7.08 billion, up 1.8% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ revenue estimates but full-year revenue guidance slightly missing analysts’ expectations.
Is Gilead Sciences a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Gilead Sciences’s revenue to be flat year on year at $7.49 billion, slowing from the 7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.14 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Gilead Sciences has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 3.1% on average.
Looking at Gilead Sciences’s peers in the biotechnology segment, some have already reported their Q3 results, giving us a hint as to what we can expect. BioMarin Pharmaceutical delivered year-on-year revenue growth of 4.1%, meeting analysts’ expectations, and Regeneron reported flat revenue, topping estimates by 5.1%. BioMarin Pharmaceutical traded up 1.6% following the results.
Read our full analysis of BioMarin Pharmaceutical’s results here and Regeneron’s results here.
There has been positive sentiment among investors in the biotechnology segment, with share prices up 6.1% on average over the last month. Gilead Sciences is up 4.3% during the same time and is heading into earnings with an average analyst price target of $127.79 (compared to the current share price of $117.49).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
