NASDAQ$UTHR

United Therapeutics Corp · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Announced financial results for Q4 and year ended December 31, 2022.

United Therapeutics Corporation reported a record full year total revenue of $1.94 billion, with U.S. patients being treated with treprostinil-based therapies reaching an all-time high during the fourth quarter of 2022. The company is focused on continued commercial uptake of Tyvaso and Tyvaso DPI in both PAH and PH-ILD to support their long-term goal of doubling revenue to a $4 billion run rate by the end of 2025.

  • Full year total revenues rose to a record $1.94 billion.
  • U.S. patients being treated with the company’s treprostinil-based therapies reached an all-time high during the fourth quarter of 2022.
  • The company is marching toward pivotal clinical data for Tyvaso in idiopathic pulmonary fibrosis and ralinepag in pulmonary arterial hypertension.
  • United Therapeutics reached their goal of doubling the number of patients on Tyvaso therapy since the Tyvaso PH-ILD approval in early 2021.

Headline financials

Total Revenue

$492M

Previous: $415M+18.4%
EPS (adj)

$2.67

Previous: $3.51-23.9%
Capital Expenditures

$39.5M

Previous: $70.6M-44.1%
Free Cash Flow

$88.7M

Previous: $104M-14.7%
Net Income

$132M

Previous: $112M+17.7%
Operating Income

$176M

Previous: $170M+3.4%
Gross Profit

$433M

Previous: $381M+13.7%
Cash & Equivalents

$4.15B

Previous: $3.58B+16.0%
Total Assets

$6.04B

Previous: $5.17B+16.9%
Stock-Based Comp

$64.8M

Previous: $44.7M+45.0%

Revenue & EPS history

United Therapeutics · Revenue · Quarterly

$492M

Q4 2022+18.4%vs Q4 2021
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Revenue by segment

United Therapeutics · $492M total across 6 segments · Q4 2022

  • Nebulized Tyvaso
    $242M+45.5%
  • Remodulin
    $123M+3.6%
  • Orenitram
    $75.8M+4.8%
  • Unituxin
    $36.7M-26.6%
  • Adcirca
    $10.4M+28.4%
  • Other
    $3.8M

Forward guidance

Statements included in this press release that are not historical in nature are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.

Tailwinds

  • Potential revenue growth, including through continued uptake of Tyvaso and Tyvaso DPI
  • Goal of doubling our revenue run rate by the end of 2025
  • Progress in our clinical trials for Tyvaso in idiopathic pulmonary fibrosis and ralinepag in pulmonary arterial hypertension
  • Goals of innovating for the unmet medical needs of our patients and to benefit our other stakeholders
  • Furthering our public benefit purpose of developing novel pharmaceutical therapies and technologies that expand the availability of transplantable organs

Headwinds

  • Forward-looking statements are subject to certain risks and uncertainties, such as those described in our periodic reports filed with the Securities and Exchange Commission, that could cause actual results to differ materially from anticipated results.
  • Such forward-looking statements are qualified by the cautionary statements, cautionary language and risk factors set forth in our periodic reports and documents filed with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.
  • We claim the protection of the safe harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements.
  • We are providing this information as of February 22, 2023, and assume no obligation to update or revise the information contained in this press release whether as a result of new information, future events, or any other reason.
  • ORENITRAM, REMODULIN, REMUNITY, TYVASO, TYVASO DPI, and UNITUXIN are registered trademarks of United Therapeutics Corporation and/or its subsidiaries. ADCIRCA is a registered trademark of Eli Lilly and Company.

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 Q4 2022

Historical avgQ4 2022

+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
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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