NASDAQ$MRNA
Moderna Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Moderna reported strong Q1 performance driven by increased product sales, especially of its COVID-19 vaccine, and reiterated its signed advance purchase agreements for 2022.
Moderna reported a strong first quarter with revenues of $6.1 billion, driven by increased product sales of its COVID-19 vaccine. The company's GAAP net income was $3.7 billion, with a diluted EPS of $8.58. Moderna reiterated its 2022 signed advance purchase agreements of approximately $21 billion.
- Moderna's Q1 2022 revenue reached $6.1 billion, compared to $1.9 billion in Q1 2021.
- GAAP net income for Q1 2022 was $3.7 billion, a significant increase from $1.2 billion in the same period last year.
- Diluted EPS for Q1 2022 was $8.58, compared to $2.84 for the same period in 2021.
- Moderna reiterated its 2022 signed advance purchase agreements of approximately $21 billion.
Headline financials
Revenue & EPS history
Moderna · Revenue · Quarterly
$6.07B
Revenue by segment
Moderna · $1.93B total across 2 segments · Q3 2023
- Net Product Sales$1.76B—91.0%
- Other Revenue$174M—9.0%
Forward guidance
Moderna anticipates sales to be slightly larger in the second half of 2022 than in the first half. Cost of sales as a percentage of product sales are expected to be in the low-to-mid 20s percentage range. Full year Research & Development (R&D) and Selling, General & Administrative (SG&A) expenses are expected to be approximately $4 billion. The company expects an effective tax rate for the full year in the mid-teen percentage range and capital investments for 2022 in the range of $0.6-$0.8 billion.
Tailwinds
- Sales slightly larger in the second half of 2022 than in the first half.
- Share repurchase program for $3 billion in February 2022 to return excess capital to shareholders.
Headwinds
- Cost of sales as percentage of product sales are expected to be in the low-to-mid 20s percentage range.
- Full year expenses expected to be approximately $4 billion.
- Effective tax rate for the full year in the mid-teen percentage range.
- Capital expenditures: Expect capital investments for 2022 in the range of $0.6-$0.8 billion.
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 Q1 2022
+0.8%
Avg return
Earnings day
+1.4%
Avg return
5 days after
+8.2%
Avg return
30 days after
59%
17 / 29 earnings
Positive
+21.0%
Q1 2020
Best reaction
-31.5%
Q3 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.0% | +6.2% | +2.7% | |
| Q4 2025 | +5.3% | +16.2% | +31.0% | |
| Q3 2025 | +2.6% | +12.1% | +17.6% | |
| Q1 2025 | -5.3% | -14.4% | -6.9% | |
| Q4 2024 | +3.4% | +12.5% | +8.5% | |
| Q3 2024 | -9.6% | -16.1% | -14.2% | |
| Q2 2024 | -27.4% | -31.0% | -35.1% | |
| Q1 2024 | +12.1% | +8.6% | +27.9% | |
| Q4 2023 | +10.1% | +9.8% | +20.4% | |
| Q3 2023 | +1.7% | -3.3% | +4.8% | |
| Q2 2023 | -1.8% | -9.5% | +2.1% | |
| Q1 2023 | +5.3% | +2.8% | +0.3% | |
| Q4 2022 | -12.0% | -12.2% | -4.6% | |
| Q3 2022 | +6.6% | +10.8% | +22.7% | |
| Q2 2022 | +20.8% | +13.8% | -13.8% | |
| Q1 2022 | -3.1% | -7.3% | -6.4% | |
| Q4 2021 | +11.5% | +10.2% | +22.2% | |
| Q3 2021 | -31.5% | -31.5% | -11.3% | |
| Q2 2021 | -1.3% | +9.0% | -0.6% | |
| Q1 2021 | +0.2% | -2.4% | +26.5% | |
| Q4 2020 | +6.9% | +1.4% | -7.9% | |
| Q3 2020 | +2.6% | +5.1% | +93.2% | |
| Q2 2020 | -6.0% | -8.2% | -20.2% | |
| Q1 2020 | +21.0% | +27.4% | +18.9% | |
| Q4 2019 | +10.1% | +25.8% | +26.5% | |
| Q3 2019 | +3.6% | +3.0% | +12.1% | |
| Q2 2019 | +7.3% | +5.9% | +29.2% | |
| Q1 2019 | -5.3% | -0.5% | -28.6% | |
| Q4 2018 | -3.6% | -4.4% | +21.5% | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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