Alexion Pharmaceuticals Earnings: Here’s Why Investors are Excited Now
Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 8.54%.
Alexion Pharmaceuticals, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 44.44% to $0.65 in the quarter versus EPS of $0.45 in the year-earlier quarter.
Revenue: Rose 38.48% to $338.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Alexion Pharmaceuticals, Inc. reported adjusted EPS income of $0.65 per share. By that measure, the company beat the mean analyst estimate of $0.61. It beat the average revenue estimate of $336.56 million.
Quoting Management: “The first quarter was particularly noteworthy for the significant progress across our lead development programs. This included completing enrollment in the deceased-donor kidney transplant trial and the hypophosphatasia infant natural history study, initiating plans for a single myasthenia gravis registration trial, and accelerating our cPMP clinical programs,” said Leonard Bell, M.D., Chief Executive Officer of Alexion. “During this past quarter we continued to serve more patients with PNH around the world, as well as a growing number of aHUS patients in the US, with initial aHUS patients commencing treatment in countries of Western Europe. Further, in line with our longer term growth objectives, we have also announced earlier today that we are broadening and strengthening our executive leadership team.”
Key Stats (on next page)…
Revenue increased 5.73% from $320.53 million in the previous quarter. EPS increased 8.33% from $0.60 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.65 to a profit $0.68. For the current year, the average estimate has moved up from a profit of $2.79 to a profit of $2.90 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)