Gilead Sciences to Report 3Q Results; Focus on Pandemic, Remdesivir Sales and HIV Business -- Earnings Preview
October 28 2021 - 11:47AM
Dow Jones News
By Maria Armental
Gilead Sciences Inc. is slated to report third-quarter financial
results on Thursday. Here's what you need to know:
PROFIT: Analysts surveyed by FactSet expect a profit of about
$1.24 a share, or $1.76 a share as adjusted.
REVENUE: Analysts expect about $6.29 billion in revenue.
What to Watch:
COVID-19: Antiviral drug remdesivir, which sells under the brand
name Veklury and has been widely used to treat hospitalized
Covid-19 patients, has been driving the company's revenue growth in
the most recent quarters. The utilization of remdesivir has largely
tracked the level of infections, the company said. In the second
quarter, Veklury sales were $829 million. Analysts expect about
$647 million this quarter.
The World Health Organization issued a conditional
recommendation against using remdesivir after concluding that there
wasn't enough evidence to support its use.
GUIDANCE: Last quarter, Gilead narrowed the projected range of
product sales for the year, saying it expected higher remdesivir
sales but lower sales of other products due to the pandemic. Gilead
said the revised forecast primarily reflected the pandemic's
longer-than-expected impact on its HIV business, which accounted
for about 61% of total product sales for the first half of the
year.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
October 28, 2021 11:32 ET (15:32 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Gilead Sciences (NASDAQ:GILD)
Historical Stock Chart
From Sep 2024 to Oct 2024
Gilead Sciences (NASDAQ:GILD)
Historical Stock Chart
From Oct 2023 to Oct 2024