Collaborations Drive Revenue Increase at Regeneron -- Earnings Review
By Allison Prang
Regeneron Pharmaceuticals Inc. (REGN) released its earnings results for its fourth quarter before the market opened Thursday. Here's what you need to know.
PROFIT: The company said profit fell 31% to $174 million, or $1.50 a share, compared to $253 million, or $2.19 a share, for the same period the year before. On an adjusted basis, profit rose 72% to $607 million, or $5.23 a share, compared to $353 million, or $3.04 share. That metric beat estimates of analysts polled by Thomson Reuters who were expecting adjusted earnings of $4.53 a share.
REVENUE: Revenue rose 29% to $1.58 billion driven by collaboration revenue from both Sanofi and Bayer, which rose by 52% and 64% respectively. Other revenue more than doubled to $107.1 million and net product sales -- which brings in the most in revenue -- increased by 13% to $978.7 million.
GUIDANCE: Regeneron expects to have between $420 million and $500 million of capital expenditures in 2018. Adjusted unreimbursed research and development is expected to be between $1.23 billion and $1.33 billion and adjusted selling, general and administrative costs are expected to be between $1.35 billion and $1.45 billion. Sanofi collaboration revenue is expected to be between $450 million and $500 million.
Shares were little changed premarket and are down 5.3% in the past year.
Write to Allison Prang at email@example.com
(END) Dow Jones Newswires
February 08, 2018 07:56 ET (12:56 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.