NASDAQ$RPRX
Royalty Pharma PLC · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Royalty Pharma reported solid Q3 2023 results, driven by growth in key royalties and strategic acquisitions.
Royalty Pharma reported a 7% increase in Adjusted Cash Receipts to $637 million, driven by strong performances of the CF franchise and Trelegy, and the addition of Spinraza. The company also announced transactions of up to $3.8 billion year-to-date, including $2.1 billion in upfront payments and raised its 2023 guidance for Adjusted Cash Receipts to $2,950 to $3,000 million.
- Adjusted Cash Receipts increased by 7% to $637 million, driven by strong performance of the CF franchise and Trelegy, and the addition of Spinraza.
- Net cash provided by operating activities grew 6% to $574 million.
- The company announced transactions of up to $3.8 billion year-to-date, including $2.1 billion in upfront payments.
- Royalty Pharma is raising 2023 guidance: Adjusted Cash Receipts expected to be $2,950 to $3,000 million.
Headline financials
Revenue & EPS history
Royalty Pharma · Revenue · Quarterly
$536M
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 provided its guidance for full-year 2023, excluding transactions announced after the date of this release.
Tailwinds
- Adjusted Cash Receipts(1) (non-GAAP) $2,950 million to $3,000 million
- Payments for operating and professional costs 8% to 8.5% of Adjusted Cash Receipts(1)
- Interest paid $170 million
- Development-stage funding payments - upfront and milestone $50 million
- This Adjusted Cash Receipts(1) guidance represents underlying growth of 9%(4) to 11%(4) prior to the Zavzpret milestone payment in the first quarter of 2023 and the payments related to the Biohaven Preferred Shares received in 2022.
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 2023
-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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