NASDAQ$REGN
Regeneron Pharmaceuticals Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Regeneron's third quarter was marked by strong revenue growth and key pipeline advancements.
Regeneron reported a strong third quarter with an 11% increase in revenue to $3.72 billion. Key drivers include growth from Dupixent and Libtayo, as well as continued leadership in the retinal franchise with EYLEA HD and EYLEA. The company also highlighted advancements in its clinical pipeline, including FDA approvals for Dupixent and positive trial results for various programs.
- Total revenues increased by 11% to $3.72 billion compared to Q3 2023.
- Dupixent global net sales increased by 23% to $3.82 billion compared to Q3 2023.
- U.S. net sales for EYLEA HD and EYLEA increased by 3% to $1.54 billion, including $392 million from EYLEA HD.
- GAAP diluted EPS increased by 30% to $11.54, and non-GAAP diluted EPS increased by 8% to $12.46 compared to Q3 2023.
Headline financials
Revenue & EPS history
Regeneron · Revenue · Quarterly
$3.72B
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 2024 financial guidance, which includes projections for GAAP and non-GAAP R&D, SG&A, gross margin on net product sales, COCM, capital expenditures, and effective tax rates.
Tailwinds
- GAAP R&D is projected to be between $5.055 billion and $5.145 billion.
- Non-GAAP R&D is projected to be between $4.525 billion and $4.575 billion.
- GAAP SG&A is projected to be between $2.930 billion and $3.020 billion.
- Non-GAAP SG&A is projected to be between $2.550 billion and $2.600 billion.
- Capital expenditures are projected to be between $700 million and $740 million.
Headwinds
- GAAP gross margin on net product sales is expected to be approximately 86%.
- Non-GAAP gross margin on net product sales is expected to be approximately 89%.
- COCM is projected to be between $860 million and $900 million.
- GAAP effective tax rate is expected to be between 8% and 9%.
- Non-GAAP effective tax rate is expected to be between 10% and 11%.
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 Q3 2024
+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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