Biopharmaceutical company Gilead Sciences (NASDAQ: GILD) will be announcing earnings results tomorrow afternoon. Here’s what to expect.
Gilead Sciences beat analysts’ revenue expectations by 7.4% last quarter, reporting revenues of $7.55 billion, up 7% year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ full-year EPS guidance estimates.
Is Gilead Sciences a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Gilead Sciences’s revenue to be flat year on year at $7.12 billion, improving from the 3.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.70 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 a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 4.2% on average.
Looking at Gilead Sciences’s peers in the biotechnology segment, some have already reported their Q4 results, giving us a hint as to what we can expect. AbbVie delivered year-on-year revenue growth of 5.6%, beating analysts’ expectations by 1.9%, and Amgen reported revenues up 10.9%, topping estimates by 2.6%. AbbVie traded up 8.3% following the results while Amgen was also up 6.5%.
Read our full analysis of AbbVie’s results here and Amgen’s results here.
Investors in the biotechnology segment have had steady hands going into earnings, with share prices flat over the last month. Gilead Sciences is up 6.8% during the same time and is heading into earnings with an average analyst price target of $101.24 (compared to the current share price of $96.08).
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