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Gilead Reports Earnings Today. Here's What to Expect.

Sector Focus Biotech GILD GLPG.AE ROG.EB Galapagos Genentech Gilead Roche RBC Capital Markets Biotechnology Pharmaceuticals Trusts/Funds/Financial Vehicles Health Care/Life Sciences Biopharmaceuticals Exchange Traded Funds Financial Services Investing/Securities Daniel O'Day Andy Dickinson Brian Abrahams Mohit Bansal Financial Performance Earnings Corporate/Industrial News Content Types Factiva Filters C&E Industry News Filter GILD I/BTC I/DRG I/EXT I/IAV I/XFFX M/FCL M/HCR N/CNW N/ERN N/PFM IBB iShares NASDAQ Biotechnology ETF Barrons.com Barrons Blogs Fortune 500 CODES_REVIEWED Biotech Companies Health Markets Sector Focus US author Josh Nathan-Kazis author|Josh Nathan-Kazis author Josh Nathan-Kazis id Josh Nathan-Kazis name Josh Nathan-Kazis topicid 8583 rank 1 topicid barrons_display_brand BARSECFOCUS barrons_display_brand|BARSECFOCUS codetype BARRONS_DISPLAY_BRAND name Sector Focus source MANUAL value BARSECFOCUS code BARSECFOCUS canbedisplaybrand true status modified 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displayname Gilead Sciences extractedtext Gilead source MANUAL code gild name Gilead significance prominent onlinesignificance passing-mention exchange U.S.: Nasdaq exchangeisocode XNAS chartingsymbol STOCK/US/XNAS/GILD fcode GILSCI status modified co HOFMAN co|HOFMAN symbol ROG.EB country CH codetype co displayname Roche Holding extractedtext Roche source MANUAL code ch_rog name Roche significance prominent onlinesignificance passing-mention exchange Switzerland: SWX exchangeisocode XSWX chartingsymbol STOCK/CH/XSWX/ROG fcode HOFMAN status modified co GALAGE co|GALAGE symbol GLPG.AE country US codetype co displayname Galapagos N.V. extractedtext Galapagos source MANUAL code glpg name Galapagos significance prominent onlinesignificance passing-mention exchange U.S.: Nasdaq exchangeisocode XNAS chartingsymbol STOCK/US/XNAS/GLPG fcode GALAGE status modified company GILD company|GILD name Gilead significance PASSING-MENTION company ROG.EB company|ROG.EB name Roche significance 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Here’s What to Expect. Gilead Reports Earnings Today. Here’s What to Expect. Gilead Reports Earnings Today. Here’s What to Expect.

Wall Street analysts expect earnings per share of $1.76 and sales of $5.6 billion, according to FactSet. Gilead Reports Earnings Today. Here’s What to Expect.

Wall Street analysts expect earnings per share of $1.76 and sales of $5.6 billion, according to FactSet. https://www.statnews.com/pharmalot/2019/06/27/gilead-truvada-hiv-aids-drug-prices/ http://investors.gilead.com/events https://www.barrons.com/articles/gilead-sciences-names-new-cfo-a-sign-more-deal-making-may-be-on-the-way-51571167616 https://www.barrons.com/articles/gilead-sciences-deal-with-galapagos-51563197127?mod=article_inline https://www.barrons.com/articles/gilead-science-stock-is-a-top-pick-with-big-upside-51564406893 https://www.barrons.com/articles/gilead-sciences-beats-second-quarter-earnings-expectations-51564520716 mailto:josh.nathan-kazis@barrons.com Gilead Reports Earnings Today. Here’s What to Expect. By Josh Nathan-Kazis Kimberly White/Bloomberg News

The biotech firm Gilead has had a shaky 2019 amid political pressure over its pricing strategies, with the stock up 6.4%. That’s worse than the iShares NASDAQ Biotechnology ETF, which tracks the industry, and is up 9.5%, and far worse than the broader S&P 500, which is up 19.9% this year.

Company executives will make their case on Thursday, when the company unveils its third-quarter results after the market closes. Gilead has scheduled a conference call to discuss the results at 4:30 p.m., Eastern time.

The earnings report comes days after the company named its former head of corporate development, Andy Dickinson, as CFO, completing a refresh of its c-suite.

Shares of Gilead trade at 9.2 times projected earnings over the next 12 months, close to its five-year average of 9.4 times projected earnings.

Here’s a snapshot of investors’ expectations and recent history.

—Wall Street analysts expect earnings per share of $1.76 and sales of $5.6 billion, according to FactSet.

—The earnings release comes just as the company completes a reset of its executive leadership. Chief Executive Officer Daniel O’Day joined in March; a new chief medical officer, Merdad Parsey, will join from Roche’s (RHHBY) Genentech next month; and in mid-October, the company said it was elevating Andy Dickinson to chief financial officer.

—Citi Research analyst Mohit Bansal wrote Oct. 15 that the selection of Dickinson as CFO signals more early-stage deals and the “absence of major late stage M&A.”

—In July, Gilead announced a collaboration deal with longtime partner Galapagos (GLPG), a European drugmaker. The deal, worth $5 billion, increased Gilead’s stake in Galapagos to 22%, and is the second major collaboration between the two companies. Gilead will develop and market Galapagos drugs outside of Europe.

—RBC Capital Markets analyst Brian Abrahams calls Gilead a Top Pick. In July, he wrote: “Given our high conviction that with new leadership and many overhangs out of the way, shares will begin to better reflect the value of future cash flows from their marketed products and pipeline.”

—In July, the company reported quarterly earnings of $1.82 per share, beating consensus expectations of $1.72, according to FactSet. At the time, the company attributed the strong results to sales of its HIV drugs.

Write to Josh Nathan-Kazis at josh.nathan-kazis@barrons.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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