Celgene (CELG) Tops Q3 EPS by 4c, Sales Miss; Raises Low End of FY EPS Guidance, Offers 2020 Targets
Celgene (NASDAQ: CELG) reported Q3 EPS of $1.91, $0.04 better than the analyst estimate of $1.87. Revenue for the quarter came in at $3.29 billion versus the consensus estimate of $3.42 billion.
GUIDANCE:
Celgene sees FY2017 EPS of $7.30-$7.35, versus the consensus of $7.31.
2017 Guidance Updated
| Previous 2017 Guidance | Updated 2017 Guidance | |||
| Net Product Sales |
|
| ||
| REVLIMID(®) | $8.0B to $8.3B | Unchanged | ||
| POMALYST(®)/IMNOVID(®) | Approximately $1.6B | Unchanged | ||
| OTEZLA(® ) | $1.5B to $1.7B | Approximately $1.25B | ||
| ABRAXANE(®) | Approximately $1.0B | Unchanged | ||
| Total Revenue | $13.0B to $13.4B | Approximately $13.0B | ||
| GAAP operating margin GAAP diluted EPS | Approximately 41.5% $5.36 to $5.62 | Approximately 37.5% $4.78 to $5.19 | ||
| Adjusted operating margin Adjusted diluted EPS | Approximately 57.5% $7.25 to $7.35 | Approximately 58.5% $7.30 to $7.35 | ||
| Weighted average diluted shares | Approximately 815M | Unchanged |
2020 Long-Term Financial Targets Updated
Original 2020 Targets (Issued 1/12/15)* | Updated 2020 Targets (Low-end) | Updated 2020 Targets (High-end) | |||||
| Hematology | |||||||
| Existing products/Indications | $13.0B | $14.7B | $14.7B | ||||
| New products/ Indications | $1.8B | $0.7B | $1.4B | ||||
| Total Hematology | >$14.8B | $15.4B | $16.1B | ||||
| Total Oncology | >$2.2B | $1.0B | $1.1B | ||||
| Total I&I | > $4.0B | $2.6B | $2.8B | ||||
| Total Net Product Sales | >$21.0B | $19.0B | $20.0B | ||||
| Adjusted Diluted EPS | >$13.00 | ˃ $12.50 | |||||
| *Updated upon acquisition of Receptos in July 2015 | |||||||
For earnings history and earnings-related data on Celgene (CELG) click here
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