Reported Q: Q2 2024 Rev YoY: +5.7% EPS YoY: -492.1% Move: -1.48%
Vertex Pharmaceuticals
VRTX
$470.87 -1.48%
Exchange NASDAQ Sector Healthcare Industry Biotechnology
Q2 2024
Published: Aug 2, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for VRTX

Reported

Report Date

Aug 2, 2024

Quarter Q2 2024

Revenue

2.63B

YoY: +5.7%

EPS

-13.92

YoY: -492.1%

Market Move

-1.48%

Previous quarter: Q1 2024

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Earnings Highlights

  • Revenue of $2.63B up 5.7% year-over-year
  • EPS of $-13.92 decreased by 492.1% from previous year
  • Gross margin of 85.9%
  • Net income of -3.59B
  • ""The Vanzacaftor Triple demonstrated an even greater reduction in sweat chloride than TRIKAFTA, a very high bar to have crested, and thus sets the stage for the potential to have a new standard in the treatment of CF." - Dr. Reshma Kewalramani" - Dr. Reshma Kewalramani
VRTX
Vertex Pharmaceuticals Incorporated

Executive Summary

In Q2 2024, Vertex Pharmaceuticals reported revenues of $2.65 billion, reflecting a year-over-year growth of 6%. This performance was significantly driven by strong demand for TRIKAFTA and the early engagement in the launch of CASGEVI for sickle cell disease and beta-thalassemia treatments. Despite this, the company recorded a non-GAAP operating loss of $3.1 billion primarily attributable to a $4.4 billion charge related to the acquisition of Alpine Immune Sciences. Vertex management has increased its full-year revenue guidance to between $10.65 billion and $10.85 billion, highlighting confidence in both existing products and pipeline advancements. The upcoming launches, particularly the Vanzacaftor Triple and Suzetrigine, are anticipated to further diversify revenue streams and enhance future profitability.

Key Performance Indicators

Revenue
Increasing
2.63B
QoQ: -1.95% | YoY: 5.68%
Gross Profit
Increasing
2.26B
85.88% margin
QoQ: -3.49% | YoY: 3.58%
Operating Income
Decreasing
-3.53B
QoQ: -410.31% | YoY: -443.44%
Net Income
Decreasing
-3.59B
QoQ: -426.81% | YoY: -492.44%
EPS
Decreasing
-13.92
QoQ: -426.76% | YoY: -492.11%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q4 2024 2,912.00 3.50 +15.7% View
Q3 2024 2,771.90 4.01 +11.6% View
Q2 2024 2,634.70 -13.92 +5.7% View
Q1 2024 2,687.20 4.21 +13.2% View
Q4 2023 2,517.70 3.71 +9.3% View