NASDAQ$MRNA
Moderna Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Moderna had a strong first quarter, with revenue of $1.9 billion and GAAP net income of $79 million.
Moderna reported first quarter 2023 revenues of $1.9 billion and GAAP net income of $79 million, with a diluted EPS of $0.19. The company is in negotiations for new orders for the fall of 2023 and preparing for potential 2024 commercial launches of its investigational RSV vaccine.
- First quarter 2023 revenues were $1.9 billion.
- GAAP net income was $79 million and GAAP diluted EPS was $0.19.
- The company is negotiating new orders for fall 2023 in the U.S., Japan, and E.U.
- The company is preparing for potential 2024 commercial launch of its investigational RSV vaccine for older adults.
Headline financials
Revenue & EPS history
Moderna · Revenue · Quarterly
$1.86B
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 minimum sales of approximately $5.0 billion from previously announced COVID-19 vaccine Advanced Purchase Agreements. The company expects second quarter 2023 sales to be between $0.2-$0.3 billion and cost of sales between $0.5-$0.6 billion. The company anticipates a full year tax benefit of $0.3-$0.5 billion and capital expenditures of approximately $1.0 billion.
Tailwinds
- The company has COVID-19 vaccine sales of approximately $5 billion currently contracted for 2023 delivery.
- The company continues to expect total product sales in the first half of 2023 of approximately $2.0 billion.
- The company continues to expect cost of sales for the full year in the range of approximately 35-40% of product sales.
- The company continues to expect full-year 2023 expenses of approximately $6.0 billion, with approximately $4.5 billion in R&D.
- The Company now anticipates a full year tax benefit of $0.3-$0.5 billion.
Headwinds
- Second quarter 2023 sales are expected to be between $0.2-$0.3 billion.
- Cost of sales for the second quarter 2023 is expected to be between $0.5-$0.6 billion.
- The company's full year outlook includes non-recurring items.
- The forward-looking statements involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna's control.
- Actual results could differ materially from those expressed or implied by these forward-looking statements.
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 2023
+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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