A month has gone by since the last earnings report for Jazz Pharmaceuticals (JAZZ). Shares have added about 3.4% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Jazz due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Tops Q3 Earnings & Sales Estimates
Jazz Pharmaceuticals reported adjusted earnings of $6.61 per share in the third quarter of 2024, beating the Zacks Consensus Estimate of $5.47. Earnings rose 37% year over year.
Total revenues in the reported quarter rose 9% year over year to $1.05 billion. Sales of Xywav and Epidiolex drove this upside. The reported figure beat the Zacks Consensus Estimate of $1.04 billion.
Quarter in Detail
While Jazz reiterated its overall revenue guidance for 2024, the company lowered its revenue prediction for sales in the Oncology franchise.
Total revenues are anticipated in the range of $4-$4.1 billion. The Oncology franchise is expected to record sales in the range of $1.08-$1.13 billion, down from the previous guidance of $1.10-$1.15 billion.
Management maintained its revenue prediction for neuroscience sales in the range of $2.83-$2.93 billion. This guidance also includes royalty revenues from high-sodium oxybate AG, which are expected to cross $200 million.
The company also revised its previously issued EPS guidance. Adjusted earnings are now expected to be in the range of $19.50-$20.60 per share, up from the previous guidance of $19.20-$20.30, primarily driven by strategic pipeline prioritization.
While adjusted SG&A expenses are anticipated to be in the range of $1.19-$1.23 billion (maintained), adjusted R&D expenses are expected to be in the band of $790-$830 million (previously: $810-$850 million).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
