Alkermes, Inc. (NASDAQ:ALKS) 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.
Alkermes, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.40 in the quarter versus EPS of $-0.13 in the year-earlier quarter.
Revenue: Rose 25.24% to $163.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Alkermes, Inc. reported adjusted EPS income of $0.40 per share. By that measure, the company beat the mean analyst estimate of $0.17. It beat the average revenue estimate of $128.01 million.
Quoting Management: “Our financial results reported today reflect the financial transformation of Alkermes. Our business is now evolving to the next stage as our pipeline of highly differentiated candidates advances and demonstrates its blockbuster potential,” commented Richard Pops, Chief Executive Officer of Alkermes. “Our recent pipeline progress validates Alkermes’ strategy to identify and develop new medicines that address critical unmet needs for patients suffering from major chronic CNS diseases. This year marks a significant inflection point for Alkermes as our clinical candidates advance across all stages of the pipeline.”
Key Stats (on next page)…
Revenue increased 20.23% from $135.91 million in the previous quarter. EPS increased 17.65% from $0.34 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 $0.26 to a profit $0.27. For the current year, the average estimate has moved down from a profit of $1.09 to a profit of $1.08 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)