Moderna (MRNA) Q4 Revenue Tops Consensus

Moderna (NASDAQ: MRNA) reported Q4 EPS of $3.61, $1.09 worse than the analyst estimate of $4.70. Revenue for the quarter came in at $5.1 billion versus the consensus estimate of $5.05 billion.

2023 Financial Framework

• Advance Purchase Agreements (APAs): The Company has COVID vaccine sales of approximately $5 billion currently contracted for 2023 delivery, with potential additional sales opportunities in the United States (endemic private and government markets), Europe, Japan, and other key markets. The Company expects product sales in the first half of 2023 of approximately $2.0 billion.
• Cost of Sales: Cost of sales for the full year are expected to be in the range of 35-40% of sales, which includes approximately 5% of sales for combined royalties to Cellscript and NIAID.
• Research & Development (R&D) and Selling, General & Administrative (SG&A) Expenses : Full-year expenses are expected to be approximately $6.0 billion, with approximately $4.5 billion in R&D.
• Income Tax Provision: The Company expects a negligible provision for income taxes in 2023.
• Capital Expenditures: The Company expects capital investments for 2023 of approximately $1.0 billion.

For earnings history and earnings-related data on Moderna (MRNA) click here.

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