NASDAQ$RPRX
Royalty Pharma PLC · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Royalty Pharma reported first quarter results, showing a decrease in Portfolio Receipts due to a high base of comparison in the previous year, but an increase in Royalty Receipts driven by strong portfolio performance.
Royalty Pharma's first quarter 2024 saw a 14% increase in Royalty Receipts, driven by royalties on Evrysdi, Trelegy, and the cystic fibrosis franchise. However, Portfolio Receipts decreased due to a significant Biohaven-related milestone payment in Q1 2023. The company confirmed its full-year 2024 guidance for Portfolio Receipts and continues to deploy capital, including acquiring royalties on Sanofi's frexalimab.
- Royalty Receipts increased by 14% to $705 million, driven by strong portfolio performance.
- Portfolio Receipts decreased to $717 million, impacted by a high base of comparison due to a $475 million Biohaven milestone payment in Q1 2023.
- The company deployed approximately $670 million in capital, including acquiring royalties on Sanofi’s frexalimab.
- Full year 2024 guidance was confirmed, with Portfolio Receipts expected to be between $2,600 million and $2,700 million.
Headline financials
Revenue & EPS history
Royalty Pharma · Revenue · Quarterly
$568M
Revenue by segment
Royalty Pharma · $687M total across 13 segments · Q3 2023
- Cystic Fibrosis Franchise$238M+14.4%34.6%
- Tysabri$87M-4.4%12.7%
- Imbruvica$62M-16.2%9.0%
- Trelegy$58M+34.9%8.4%
- Promacta$54M+8.0%7.9%
- Xtandi$47M+2.2%6.8%
- Other Products$46M-37.0%6.7%
- Tremfya$27M+28.6%3.9%
- Cabometyx/Cometriq$17M+13.3%2.5%
- Evrysdi$16M+60.0%2.3%
- Spinraza$15M—2.2%
- Trodelvy$11M+83.3%1.6%
- Erleada$9M+50.0%1.3%
Forward guidance
Royalty Pharma expects 2024 Portfolio Receipts to be between $2,600 million and $2,700 million, which includes expected Royalty Receipts growth of 5% to 9%.
Tailwinds
- Portfolio Receipts are expected to be between $2,600 million and $2,700 million.
- Royalty Receipts are expected to grow 5% to 9% in 2024.
- Guidance reflects a negligible estimated foreign exchange impact to Portfolio Receipts.
- Total interest paid is anticipated to be approximately $160 million in 2024.
- The company's guidance assumes no major unforeseen adverse events and excludes contributions from transactions announced after the date of the press release.
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 2024
-0.6%
Avg return
Earnings day
+0.1%
Avg return
5 days after
+0.9%
Avg return
30 days after
43%
10 / 23 earnings
Positive
+6.8%
Q3 2025
Best reaction
-8.1%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.0% | +2.4% | +10.7% | |
| Q4 2025 | +0.1% | +2.2% | +3.3% | |
| Q3 2025 | +6.8% | +1.8% | +5.0% | |
| Q1 2025 | +0.9% | +0.2% | +3.1% | |
| Q4 2024 | +1.7% | +2.0% | +3.0% | |
| Q3 2024 | -3.7% | -4.3% | -5.9% | |
| Q2 2024 | -3.6% | -1.4% | +5.3% | |
| Q1 2024 | +0.4% | +0.3% | -1.9% | |
| Q4 2023 | +2.1% | +3.4% | +2.7% | |
| Q3 2023 | -0.5% | -1.6% | +3.7% | |
| Q2 2023 | -0.9% | -1.1% | -6.4% | |
| Q1 2023 | -4.7% | -2.7% | -2.8% | |
| Q4 2022 | -2.0% | -0.4% | -8.8% | |
| Q3 2022 | +1.6% | +3.7% | -0.1% | |
| Q2 2022 | -0.9% | +1.9% | -1.8% | |
| Q1 2022 | -8.1% | -12.8% | -6.2% | |
| Q4 2021 | +3.6% | +0.8% | +1.7% | |
| Q3 2021 | +1.5% | +5.3% | -4.6% | |
| Q2 2021 | +2.7% | +5.0% | +5.6% | |
| Q1 2021 | -2.2% | -1.8% | +12.4% | |
| Q4 2020 | -2.1% | +1.1% | -1.5% | |
| Q3 2020 | -1.6% | +2.8% | +10.3% | |
| Q2 2020 | -3.0% | -4.2% | -5.9% | |
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