NASDAQ$GILD

Gilead Sciences Inc · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Gilead Sciences' financial results for Q4 2019 were announced, with total revenues of $5.9 billion and diluted EPS of $2.12.

Gilead Sciences announced its Q4 and full year 2019 financial results. The total revenues for the fourth quarter of 2019 were $5.9 billion, and the net income was $2.7 billion, or $2.12 per diluted share.

  • Fourth Quarter Product Sales reached $5.8 billion.
  • Full Year 2019 Product Sales amounted to $22.1 billion.
  • Full Year 2019 Diluted EPS was $4.22 per share.
  • Full Year 2019 Non-GAAP Diluted EPS was $6.63 per share.

Headline financials

Total Revenue

$5.88B

Previous: $5.8B+1.4%
EPS (adj)

$1.30

Previous: $1.44-9.7%
Product Gross Margin

71.0%

No prior period
Non-GAAP Product Gross Margin

75.7%

No prior period
Capital Expenditures

$203M

Previous: $248M-18.1%
Free Cash Flow

$2.38B

Previous: $2.1B+13.4%
Net Income

$2.7B

Previous: $3M+89900.0%
Operating Income

$1.09B

Previous: $1.14B-4.5%
Gross Profit

$4.2B

Previous: $4.23B-0.7%
Cash & Equivalents

$11.6B

Previous: $17.9B-35.2%
Total Assets

$61.6B

Previous: $63.7B-3.2%
Stock-Based Comp

$157M

Previous: $175M-10.3%

Revenue & EPS history

Gilead Sciences · Revenue · Quarterly

$5.88B

Q4 2019+1.4%vs Q4 2018
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

Gilead Sciences · $6.14B total across 3 segments · Q3 2023

  • HIV
    $4.67B+4.0%
  • Oncology
    $769M+327.2%
  • Liver Disease
    $706M

Forward guidance

Gilead provided full year 2020 guidance, projecting product sales between $21.8 billion and $22.2 billion and diluted EPS between $6.05 and $6.45.

Tailwinds

  • Product Sales: $21,800 - $22,200 million
  • Non-GAAP Product Gross Margin: 86% - 87%
  • R&D Expenses: Mid-single digit percentage growth
  • SG&A Expenses: Mid-single digit percentage growth
  • Operating Income: $10,100 - $10,800 million

Headwinds

  • Effective Tax Rate: ~21%
  • Diluted EPS: $6.05 - $6.45
  • GAAP Diluted EPS: $5.15 - $5.55

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2019

Historical avgQ4 2019

+0.2%

Avg return

Earnings day

-0.2%

Avg return

5 days after

-0.4%

Avg return

30 days after

44%

32 / 73 earnings

Positive

+11.9%

Q3 2022

Best reaction

-12.4%

Q1 2016

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.5%-1.5%-3.4%
Q4 2025+5.8%+5.3%-1.5%
Q3 2025+3.1%+3.5%+6.2%
Q2 2025+8.3%+8.9%+4.3%
Q1 2025-2.8%+0.4%+1.1%
Q4 2024+7.5%+8.3%+15.9%
Q3 2024+8.5%+7.5%+2.1%
Q2 2024-0.5%-0.0%+6.4%
Q1 2024-2.5%-2.8%-2.1%
Q4 2023-3.0%-4.0%-4.0%
Q3 2023-4.0%-6.4%-3.8%
Q2 2023+4.0%+5.8%+1.3%
Q1 2023-1.8%-3.9%-7.9%
Q4 2022+0.6%+2.4%-3.5%
Q3 2022+11.9%+12.0%+21.8%
Q2 2022+4.5%+2.5%+9.0%
Q1 2022-3.7%-2.0%+5.2%
Q4 2021-4.2%-7.0%-10.1%
Q3 2021-2.8%-1.3%+5.2%
Q2 2021-2.5%-0.3%+1.7%
Q1 2021-1.5%+1.9%+2.6%
Q4 2020+6.1%+4.3%+0.2%
Q3 2020-2.5%-2.5%+0.0%
Q2 2020-4.8%-2.9%-10.6%
Q1 2020-3.8%-4.8%-6.4%
Q4 2019-0.7%+3.8%+14.7%
Q3 2019-4.9%-4.7%-2.0%
Q2 2019-3.5%-4.3%-6.1%
Q1 2019+3.5%+2.4%-4.0%
Q4 2018-3.4%-3.7%-10.2%
Q3 2018+2.5%+5.9%-2.1%
Q2 2018+0.7%-1.7%-5.2%
Q1 2018-7.4%-9.4%-6.7%
Q4 2017+5.6%+1.2%+2.2%
Q3 2017-3.5%-6.2%-9.3%
Q2 2017+1.7%+3.2%+0.1%
Q1 2017-1.3%-0.5%-5.1%
Q4 2016-7.7%-8.3%-5.5%
Q3 2016-1.5%-1.6%-1.1%
Q2 2016-6.4%-8.2%-7.0%
Q1 2016-12.4%
Q4 2015+2.8%
Q3 2015-0.5%
Q2 2015+4.7%
Q1 2015+2.6%
Q4 2014-7.3%
Q3 2014-1.7%
Q2 2014+1.4%
Q1 2014+3.2%
Q4 2013-0.9%
Q3 2013+5.7%
Q2 2013+4.5%
Q1 2013+10.0%
Q4 2012-0.0%
Q3 2012+3.0%
Q2 2012+8.4%
Q1 2012-0.8%
Q4 2011+1.6%
Q3 2011+0.4%
Q2 2011-1.6%
Q1 2011+0.4%
Q4 2010-1.1%
Q3 2010-1.2%
Q2 2010-0.1%
Q1 2009+2.3%
Q1 2010+0.0%
Q4 2007-0.2%
Q4 2009-0.2%
Q3 2009+5.4%
Q3 2008+5.4%
Q4 2008-5.0%
Q2 2008-5.0%
Q2 2009-5.0%

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