Horizon Therapeutics (HZNP) Tops Q1 EPS by 18c, Raises FY Rev. Guidance

Horizon Therapeutics (NASDAQ: HZNP) reported Q1 EPS of $0.40, $0.18 better than the analyst estimate of $0.22. Revenue for the quarter came in at $355.9 million versus the consensus estimate of $287.88 million.

GUIDANCE:

Horizon Therapeutics sees FY2020 revenue of $1.4-1.45 billion, versus the consensus of $1.35 billion.

• The Company now expects full‐year 2020 net sales to range between $1.40 billion and $1.45 billion, an increase from the previous range of $1.40 billion to $1.42 billion, reflecting the significant increase in full-year TEPEZZA net sales guidance, offset by the current estimated impact of COVID-19 on its medicines. The Company now expects TEPEZZA full-year net sales of greater than $200 million, compared to the previous guidance of $30 million to $40 million. Full-year 2020 adjusted EBITDA is now expected to range between $450 million and $500 million, revised from the previous guidance range of $485 million to $500 million and reflects increased investment in TEPEZZA to support higher-than-expected demand, new TEPEZZA clinical programs and HZN-825. The updated guidance assumes that healthcare activity begins to return in the second half of 2020.

For earnings history and earnings-related data on Horizon Therapeutics (HZNP) click here.

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