Regeneron (REGN) Tops Q3 EPS by 31c, Offers FY Guidance
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Regeneron (NASDAQ: REGN) reported Q3 EPS of $6.67, $0.31 better than the analyst estimate of $6.36. Revenue for the quarter came in at $2.05 billion versus the consensus estimate of $1.99 billion.
2019 Financial Guidance(2)
The Company's updated full year 2019 financial guidance consists of the following components:
GAAP Sanofi collaboration revenue: Sanofi reimbursement of Regeneron commercialization-related expenses
$490 million–$510 million (previously $500 million–$530 million)
$2.360 billion–$2.410 billion
(previously $2.300 billion–$2.380 billion)
Non-GAAP Unreimbursed R&D(1)(3)
$1.680 billion–$1.710 billion (previously $1.650 billion–$1.710 billion)
$1.730 billion–$1.780 billion
(previously $1.705 billion–$1.785 billion)
$1.550 billion–$1.580 billion (previously $1.530 billion–$1.580 billion)
GAAP effective tax rate
12%–14% (previously 11%–13%)
$390 million–$420 million(previously $380 million–$420 million)
In November 2019, the Company's board of directors authorized a share repurchase program to repurchase up to $1.0 billion of the Company's Common Stock. Repurchases may be made from time to time at management's discretion through a variety of methods. The program has no time limit and can be discontinued at any time. No shares have been repurchased under the program to date.
For earnings history and earnings-related data on Regeneron (REGN) click here.
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