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Gilead Sciences (NASDAQ:GILD) is gearing up to unveil its Q4 earnings after the market closes on Tuesday. Investors are bracing themselves, eager to glean insights into the performance of Gilead’s Hepatitis C and HIV franchises.
Market analysts expect Gilead to announce a surge in Q4 profit, projecting an adjusted profit of $1.76 per share, compared to $1.67 for the same quarter in 2022. However, revenue is anticipated to dip to $7.10B, down from $7.39B the previous year.
In the previous quarter, Gilead reported revenue to be relatively flat year-over-year. This was attributed in part to decreased sales of its HCV products and COVID-19 treatment Veklury (remdesivir), while some HIV drugs also underperformed. Despite the slowdown in sales, the company managed to surpass market expectations on both the revenue and profit fronts.
Gilead has consistently outperformed Street revenue estimates for the last 8 quarters. It has surpassed EPS estimates 5 times but fell short 3 times. Over the past 90 days, 22 analysts have revised their Q4 estimates upward, while 2 have adjusted them downwards.
Observers will also be keen to see if Gilead meets the 2023 forecast it issued in its third-quarter report. Back then, the company raised its full-year sales outlook to the range of $26.7B to $26.9B, up from its previous view of $26.3B to $26.7B. The sales estimate for Veklury was also raised to $1.9B from $1.7B.
On average, analysts anticipate Gilead to report 2023 revenue of $27.08B.
