Moderna Inc · Q2 2022 earnings

Briefing

Moderna reported a strong second quarter performance, with revenue of $4.7 billion and GAAP diluted EPS of $5.24.

Moderna's Q2 2022 earnings showcased a robust performance with $4.7 billion in revenue and a GAAP net income of $2.2 billion. The company is reiterating advance purchase agreements for approximately $21 billion in expected deliveries for 2022 and announcing a new $3 billion share repurchase plan. Moderna has four infectious disease vaccines in Phase 3 and expects data from proof-of-concept studies in rare diseases and immuno-oncology later this year.

• Second quarter 2022 revenues reached $4.7 billion.
• GAAP net income was $2.2 billion, with a GAAP diluted EPS of $5.24.
• The company is maintaining advance purchase agreements for expected 2022 delivery of approximately $21 billion.
• A new $3 billion share repurchase plan has been announced.

Headline financials

Revenue & EPS history

Moderna anticipates that for sales in the second half, sales will be greater in the fourth quarter than the third quarter, driven by the timing for approval of our updated COVID-19 vaccines and the related manufacturing ramp-up of new products. Cost of sales as percentage of product sales are expected to be in the mid- 20s percentage range, with possible cost of sales in the high-20s in the event of further charges due to product updates. Full year expenses are expected to be approximately $4 billion. The Company expects an effective tax rate for the full year in the low- to mid-teen percentage range Expect capital investments for 2022 in the range of $0.6-$0.8 billion.