NASDAQ$JAZZ

Jazz Pharmaceuticals · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Jazz Pharmaceuticals' financial performance for Q4 2022 was announced, revealing strategic execution that drove record revenues in 2022.

Jazz Pharmaceuticals reported Q4 2022 total revenues of $972.123 million. The company's Xywav became the largest product by net sales. The company is positioned for total revenue and net income growth in 2023.

  • Xywav became the company's largest product by net sales in Q4 2022.
  • Epidiolex delivered compelling growth in Q4 2022 and is now launched and reimbursed in all five key European markets.
  • Received FDA approval of Rylaze supplemental Biologics Licensing Application (sBLA) for Monday/Wednesday/Friday (MWF) intramuscular (IM) dosing.
  • Positive top-line results from the pivotal trial of zanidatamab in BTC in December 2022 and the first overall survival data for zanidatamab from a Phase 2 trial in 1L HER2-expressing metastatic GEA in January 2023.

Headline financials

Total Revenue

$972M

Previous: $897M+8.4%
EPS (adj)

-$0.07

Previous: $4.21-101.7%
GAAP Gross Margin

82.7%

Previous: 93.5%-11.6%
Capital Expenditures

$9.38M

Previous: $9.97M-5.9%
Free Cash Flow

$333M

Previous: $168M+98.2%
Net Income

-$241M

Previous: -$35.4M-581.0%
Operating Income

-$263M

Previous: $49.4M-633.4%
Gross Profit

$805M

Previous: $761M+5.8%
Cash & Equivalents

$881M

Previous: $591M+49.0%
Total Assets

$10.8B

Previous: $12.3B-11.9%
Stock-Based Comp

$61.6M

Previous: $53.1M+15.9%

Revenue & EPS history

Jazz Pharmaceuticals · Revenue · Quarterly

$972M

Q4 2022+8.4%vs Q4 2021
Beat estimate in 7 of 15 quarters(47%)
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 2023 financial guidance with revenues between $3,675 to $3,875 million.

Tailwinds

  • Revenue between $3,675 - $3,875 million
  • Neuroscience revenue between $2,675 - $2,825 million
  • Oncology revenue between $950 - $1,050 million
  • Gross margin at 93%
  • Net income between $410 - $560 million

Headwinds

  • SG&A expenses between $1,197 - $1,277 million
  • SG&A expenses as percentage of total revenues between 31% - 35%
  • R&D expenses between $739 - $797 million
  • R&D expenses as percentage of total revenues between 19% - 22%
  • Effective tax rate between (32)% - (8)%

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 2022

Historical avgQ4 2022

-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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