NASDAQ$REGN
Regeneron Pharmaceuticals Inc · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Reported strong Q2 2021 financial results, marked by significant revenue growth and key pipeline advancements.
Regeneron reported a substantial increase in revenue for Q2 2021, driven by REGEN-COV sales and strong performance from EYLEA and Dupixent. The company also highlighted advancements in its clinical pipeline, including positive Phase 3 data for Dupixent and Libtayo.
- Total revenues increased by 163% to $5.14 billion, including $2.76 billion from REGEN-COV.
- EYLEA U.S. net sales reached a record $1.42 billion, a 28% increase year-over-year.
- Dupixent global net sales, recorded by Sanofi, increased by 59% to $1.50 billion.
- GAAP diluted EPS was $27.97, and non-GAAP diluted EPS was $25.80.
Headline financials
Revenue & EPS history
Regeneron · Revenue · Quarterly
$5.14B
Revenue by segment
Regeneron · $3.41B total across 6 segments · Q1 2023
- Net product sales$1.67B+1.8%48.9%
- EYLEA U.S.$1.43B—42.1%
- Other revenue$116M+23.4%3.4%
- Libtayo U.S.$110M—3.2%
- Libtayo ROW$67M—2.0%
- Evkeeza U.S.$15M—0.4%
Forward guidance
Regeneron provided full year 2021 financial guidance.
Tailwinds
- GAAP R&D expenses are projected to be between $2.950 billion and $3.075 billion.
- Non-GAAP R&D expenses are expected to range from $2.650 billion to $2.750 billion.
- GAAP SG&A expenses are guided to be between $1.730 billion and $1.830 billion.
- Non-GAAP SG&A expenses are projected to be in the range of $1.540 billion to $1.620 billion.
- Gross margin on net product sales is expected to be 87-88% (GAAP) and 88-89% (non-GAAP).
Headwinds
- COCM is projected to be $630 million–$680 million
- Other operating (income) expense, net is projected to be ($135) million–($155) million
- Capital expenditures are expected to be $590 million–$640 million
- GAAP effective tax rate (ETR) is expected to be 14–16%
- Non-GAAP effective tax rate (ETR) is expected to be 14–16%
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 Q2 2021
+0.5%
Avg return
Earnings day
+1.2%
Avg return
5 days after
+3.1%
Avg return
30 days after
54%
35 / 65 earnings
Positive
+11.7%
Q2 2012
Best reaction
-8.6%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.7% | -3.1% | -16.0% | |
| Q4 2025 | -0.5% | +3.4% | +4.3% | |
| Q3 2025 | +11.1% | +11.4% | +34.1% | |
| Q2 2025 | +2.5% | +1.8% | +6.5% | |
| Q1 2025 | -6.9% | -0.9% | -0.9% | |
| Q4 2024 | +4.5% | +6.5% | +4.7% | |
| Q3 2024 | -8.6% | -10.1% | -18.7% | |
| Q2 2024 | +0.3% | -1.2% | +9.8% | |
| Q1 2024 | +5.9% | +7.4% | +8.5% | |
| Q4 2023 | -2.2% | -2.0% | +2.6% | |
| Q3 2023 | +3.2% | +5.0% | +3.0% | |
| Q2 2023 | +4.7% | +6.6% | +13.6% | |
| Q1 2023 | -5.1% | -6.0% | -7.9% | |
| Q4 2022 | +3.9% | -0.2% | +3.7% | |
| Q3 2022 | -0.0% | +1.5% | +3.5% | |
| Q2 2022 | +7.0% | +9.7% | +1.0% | |
| Q1 2022 | -3.2% | -9.2% | -4.6% | |
| Q4 2021 | +0.3% | -0.1% | -0.0% | |
| Q3 2021 | -6.2% | -5.5% | -2.6% | |
| Q2 2021 | +5.1% | +5.9% | +17.0% | |
| Q1 2021 | +3.0% | +3.9% | +6.1% | |
| Q4 2020 | -0.8% | -1.5% | -7.5% | |
| Q3 2020 | -1.6% | -4.8% | -16.1% | |
| Q2 2020 | -4.2% | -6.2% | -10.5% | |
| Q1 2020 | +2.2% | +4.0% | +10.5% | |
| Q4 2019 | +2.6% | +6.6% | +32.9% | |
| Q3 2019 | +4.3% | +9.9% | +18.4% | |
| Q2 2019 | +0.9% | +1.8% | -3.4% | |
| Q1 2019 | -4.4% | -9.1% | -13.0% | |
| Q4 2018 | -3.5% | -3.0% | -4.4% | |
| Q3 2018 | +2.6% | +0.5% | +7.5% | |
| Q2 2018 | +6.4% | +5.5% | +9.6% | |
| Q1 2018 | -1.7% | -3.5% | +3.6% | |
| Q4 2017 | +0.5% | -3.0% | +2.1% | |
| Q3 2017 | +0.5% | -2.7% | -5.8% | |
| Q2 2017 | -1.7% | -1.5% | +5.7% | |
| Q1 2017 | +5.4% | +5.0% | +18.0% | |
| Q4 2016 | +1.9% | +6.6% | +9.9% | |
| Q3 2016 | +8.7% | +24.5% | +10.9% | |
| Q2 2016 | -4.2% | -5.0% | -11.9% | |
| Q1 2016 | +2.6% | — | — | |
| Q4 2015 | -5.9% | — | — | |
| Q3 2015 | -2.4% | — | — | |
| Q2 2015 | +6.9% | — | — | |
| Q1 2015 | +2.4% | — | — | |
| Q4 2014 | -0.2% | — | — | |
| Q3 2014 | -6.8% | — | — | |
| Q2 2014 | +4.7% | — | — | |
| Q1 2014 | -2.5% | — | — | |
| Q4 2013 | +5.4% | — | — | |
| Q3 2013 | +2.3% | — | — | |
| Q2 2013 | -6.6% | — | — | |
| Q1 2013 | +5.7% | — | — | |
| Q4 2012 | -3.2% | — | — | |
| Q3 2012 | -8.3% | — | — | |
| Q2 2012 | +11.7% | — | — | |
| Q1 2012 | +1.5% | — | — | |
| Q4 2011 | -3.6% | — | — | |
| Q3 2011 | -3.5% | — | — | |
| Q2 2011 | +0.8% | — | — | |
| Q1 2011 | +1.3% | — | — | |
| Q4 2010 | -0.6% | — | — | |
| Q3 2010 | -3.4% | — | — | |
| Q2 2010 | -3.3% | — | — | |
| Q1 2010 | +3.7% | — | — |
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