NASDAQ$UTHR

United Therapeutics Corp · Q2 2025 earnings

Q2 2025 earnings · · Before market open · Investor relations

Briefing

United Therapeutics Corp reported Q2 2025 net income of $309.5 million on total revenues of $798.6 million.

The company achieved 12% year-over-year revenue growth driven primarily by Tyvaso DPI and Nebulized Tyvaso sales. Operating income reached $364.5 million with net income per diluted share of $6.41, reflecting strong performance across treprostinil-based therapies.

  • Total revenues grew 12% to $798.6 million year-over-year
  • Tyvaso DPI revenues increased 22% to $315.2 million
  • Net income rose 11% to $309.5 million with diluted EPS of $6.41
  • US revenues accounted for 95% of total at $759.8 million

Headline financials

Total Revenue

$799M

Previous: $715M+11.7%
EPS (adj)

$6.41

Previous: $5.85+9.6%
Income Tax Expense

$98.9M

Previous: $77.2M+28.1%
R&D Expense

$134M

Previous: $140M-4.0%
SG&A Expense

$213M

Previous: $178M+19.7%
Share-Based Comp Expense

$37.8M

Previous: $49.7M-23.9%
Basic Shares Outstanding

45.1M

Previous: 44.4M+1.6%
Diluted Shares Outstanding

48.3M

Previous: 47.5M+1.7%
Capital Expenditures

-$137M

Previous: -$83.3M-64.6%
Net Income

$310M

Previous: $278M+11.3%
Operating Income

$365M

Previous: $320M+13.9%
Cash & Equivalents

$1.59B

Previous: $1.36B+17.5%

Revenue & EPS history

United Therapeutics · Revenue · Quarterly

$799M

Q2 2025+11.7%vs Q2 2024
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Revenue by segment

United Therapeutics · $799M total across 7 segments · Q2 2025

  • Tyvaso DPI
    $315M
  • Nebulized Tyvaso
    $154M
  • Remodulin
    $135M
  • Orenitram
    $124M
  • Unituxin
    $58.4M
  • Adcirca
    $6.5M
  • Other
    $5.5M

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports

Historical avg

+0.6%

Avg return

Earnings day

+0.2%

Avg return

5 days after

+1.1%

Avg return

30 days after

57%

39 / 68 earnings

Positive

+16.2%

Q3 2022

Best reaction

-13.0%

Q4 2021

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2025
Q1 2026+4.3%-0.4%-4.0%
Q4 2025+13.1%+8.5%+10.4%
Q3 2025+9.7%+5.6%+17.0%
Q1 2025+0.8%-0.7%+6.0%
Q4 2024-10.8%-13.3%-14.1%
Q3 2024+6.0%+6.8%+5.0%
Q2 2024-2.9%-3.5%+7.7%
Q1 2024+10.2%+11.2%+17.4%
Q4 2023+1.6%+4.4%+11.1%
Q3 2023+2.4%+2.4%+8.0%
Q2 2023-3.4%-1.0%-5.0%
Q1 2023-5.7%-8.0%-5.1%
Q4 2022-2.7%-3.3%-13.8%
Q3 2022+16.2%+16.8%+22.0%
Q2 2022-1.5%-2.7%-0.8%
Q1 2022+4.1%-0.6%+27.2%
Q4 2021-13.0%-14.0%-9.5%
Q3 2021+4.8%+5.1%-3.2%
Q2 2021+13.7%+15.0%+16.7%
Q1 2021-1.7%-2.8%-9.9%
Q4 2020-2.1%-0.6%-0.7%
Q3 2020+5.6%+8.6%+9.8%
Q2 2020+0.3%+2.9%-6.3%
Q1 2020-0.2%+2.0%+7.5%
Q4 2019-10.7%-8.0%-19.1%
Q3 2019+3.3%+3.6%+6.1%
Q2 2019+4.5%-0.5%+3.8%
Q1 2019-1.3%-1.9%-18.1%
Q4 2018+3.6%-1.5%-3.8%
Q3 2018-6.2%-6.2%-3.7%
Q2 2018+0.3%+0.7%+0.1%
Q1 2018-8.3%-8.3%-4.2%
Q4 2017-12.9%-14.1%-20.4%
Q3 2017+0.2%+0.8%+5.1%
Q2 2017-2.3%-2.6%-2.2%
Q1 2017-1.0%+1.0%-2.2%
Q4 2016-12.2%-9.2%-16.6%
Q3 2016+4.5%+6.0%+19.0%
Q2 2016+6.9%+11.2%+7.6%
Q1 2016-10.6%
Q4 2015-4.2%
Q3 2015+8.8%
Q2 2015+0.8%
Q1 2015-4.4%
Q4 2014+2.3%
Q3 2014-1.9%
Q2 2014+2.7%
Q1 2014+12.4%
Q4 2013-4.1%
Q3 2013+3.8%
Q2 2013+2.7%
Q1 2013-1.6%
Q4 2012+2.7%
Q3 2012+2.9%
Q2 2012+8.3%
Q1 2012+0.8%
Q4 2011-0.9%
Q3 2011+8.0%
Q2 2011+5.0%
Q1 2010-5.3%
Q1 2011+0.8%
Q4 2008+1.8%
Q4 2010+1.8%
Q3 2009+8.0%
Q3 2010+8.0%
Q4 2009-8.2%
Q2 2010-8.2%
Q2 2009-8.2%

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