NASDAQ$JAZZ

Jazz Pharmaceuticals · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Jazz Pharmaceuticals reported Q4 2020 earnings with total revenues increasing by 14% and launched Xywav in the U.S.

Jazz Pharmaceuticals announced its Q4 2020 financial results, with total revenues increasing by 14% compared to the same period in 2019. The company highlighted the successful U.S. launches of Zepzelca and Xywav and provided full year 2021 total revenue guidance of $2.55 Billion to $2.70 Billion.

  • Total revenues increased 14% in the fourth quarter of 2020 compared to the same period in 2019.
  • Neuroscience net product sales in the fourth quarter of 2020 increased 6% compared to the same period in 2019, driven by the launch of Xywav.
  • Oncology net product sales in the fourth quarter of 2020 increased 46% compared to the same period in 2019, led by Zepzelca net product sales.
  • The company expects 2021 to be another catalyst-rich year as they focus on their ambitious set of objectives.

Headline financials

Total Revenue

$666M

Previous: $582M+14.4%
EPS (adj)

$4.00

Previous: $4.42-9.5%
GAAP Gross Margin

92.4%

Previous: 93.9%-1.6%
Capital Expenditures

$4.12M

Previous: $7.14M-42.3%
Free Cash Flow

$182M

Previous: $80.7M+125.8%
Net Income

$133M

Previous: $74M+80.3%
Operating Income

$173M

Previous: $61.2M+183.1%
Gross Profit

$615M

Previous: $546M+12.6%
Cash & Equivalents

$1.06B

Previous: $637M+66.0%
Total Assets

$6.54B

Previous: $5.54B+18.0%
Stock-Based Comp

$31.4M

Previous: $25.9M+21.0%

Revenue & EPS history

Jazz Pharmaceuticals · Revenue · Quarterly

$666M

Q4 2020+14.4%vs Q4 2019
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

Jazz Pharmaceuticals · $493M total across 4 segments · Q1 2020

  • Xyrem
    $408M+10.7%
  • Defitelio/defibrotide
    $47.4M+14.3%
  • Vyxeos
    $32.7M+13.0%
  • Royalties & Contract Revenue
    $4.52M-6.9%

Forward guidance

Jazz Pharmaceuticals provided full year 2021 financial guidance on a standalone basis and does not reflect the impact of the proposed acquisition of GW Pharmaceuticals. They plan to provide updated guidance following the close of the planned transaction.

Tailwinds

  • Revenues $2,550 - $2,700 million
  • Total net product sales $2,540 - $2,685 million
  • Neuroscience $1,785 - $1,885 million
  • Oncology $715 - $835 million
  • Net income per diluted share $8.30 - $10.45

Headwinds

  • SG&A expenses $1,032 - $1,100 million
  • SG&A expenses as % of total revenues 38% - 43%
  • R&D Expenses $365 - $410 million
  • R&D expenses as % of total revenues 14% - 16%
  • Effective tax rate 18% - 20%

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 2020

Historical avgQ4 2020

-0.3%

Avg return

Earnings day

+0.6%

Avg return

5 days after

+0.7%

Avg return

30 days after

52%

34 / 65 earnings

Positive

+13.4%

Q4 2025

Best reaction

-13.4%

Q3 2018

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+2.1%+8.6%+15.4%
Q4 2025+13.4%+9.6%+5.1%
Q3 2025-2.4%-0.1%+23.7%
Q1 2025-8.6%-6.8%-0.0%
Q4 2024+3.2%+0.4%-12.0%
Q3 2024+6.9%+14.1%+10.0%
Q2 2024+1.9%-0.6%+3.3%
Q1 2024-1.3%-0.8%-5.0%
Q4 2023-10.1%-11.1%-9.0%
Q3 2023-12.8%-8.7%-9.9%
Q2 2023+2.2%+5.9%+3.1%
Q1 2023+1.2%-0.6%-6.2%
Q4 2022+2.8%+1.7%+4.2%
Q3 2022+5.1%+4.1%+6.5%
Q2 2022-1.0%+0.9%+1.4%
Q1 2022-1.9%-9.2%-2.9%
Q4 2021+11.4%+12.4%+13.3%
Q3 2021+2.3%+4.7%-7.7%
Q2 2021-10.1%-12.1%-20.5%
Q1 2021+3.4%+5.7%+5.0%
Q4 2020+7.3%+3.9%+3.1%
Q3 2020+3.2%+3.2%+0.3%
Q2 2020+9.2%+12.6%+20.0%
Q1 2020+4.2%+1.6%+12.1%
Q4 2019-10.9%-12.4%-23.0%
Q3 2019-1.0%+1.2%+15.1%
Q2 2019+0.9%+1.4%-6.4%
Q1 2019+5.9%+4.8%-3.0%
Q4 2018+9.2%+10.1%+11.0%
Q3 2018-13.4%-10.2%-11.5%
Q2 2018-0.6%-0.3%-4.4%
Q1 2018+6.3%+11.8%+19.4%
Q4 2017-1.8%-4.1%+2.4%
Q3 2017-2.7%-1.1%-3.9%
Q2 2017-8.1%-8.3%-3.1%
Q1 2017+0.1%-1.8%-1.4%
Q4 2016-0.9%-2.2%+6.4%
Q3 2016+4.7%+5.2%-5.3%
Q2 2016-6.0%-8.4%-18.4%
Q1 2016+0.7%
Q4 2015-2.9%
Q3 2015-4.5%
Q2 2015-3.4%
Q1 2015+0.3%
Q4 2014+3.4%
Q3 2014-1.8%
Q2 2014+3.7%
Q1 2014-5.8%
Q4 2013-5.6%
Q3 2013+3.5%
Q2 2013+3.3%
Q1 2013-7.1%
Q4 2012+3.1%
Q3 2012+0.4%
Q2 2012-4.9%
Q1 2011-2.4%
Q1 2012+2.0%
Q1 2010+3.8%
Q4 2011+3.8%
Q4 2009+3.8%
Q3 2010-0.6%
Q3 2011-0.6%
Q2 2011-9.2%
Q4 2010-9.2%
Q2 2010-9.2%

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