Celgene (CELG) reported earnings on Thur 26 Oct 2017 (b/o)

** charts before earnings **

 

** charts after earnings **

 

Celgene beats by $0.04, misses on revs; updates FY17 EPS, revs guidance; lowers 2020 long-term financial targets

• Reports Q3 (Sep) earnings of $1.91 per share, $0.04 better than the Capital IQ Consensus of $1.87; revenues rose 10.2% year/year to $3.29 bln vs the $3.42 bln Capital IQ Consensus.
  • REVLIMID sales for the third quarter increased 10 percent to $2,081 million. Sales growth was driven primarily by increased volume, as a result of increases in duration and market share. U.S. sales of $1,361 million and international sales of $720 million increased 18 percent and decreased 2 percent year-over-year, respectively.
• Co updates guidance for FY17, sees EPS of $7.30-7.35 (Prior $7.25-7.35), excluding non-recurring items, vs. $7.31 Capital IQ Consensus Estimate; sees FY17 revs of ~$13 bln (Prior $13-13.4 bln) vs. $13.23 bln Capital IQ Consensus Estimate.
• Updated 2020 Long-Term Financial Targets
  • Total Net Product Sales $19-20 bln (Previously saw >$21 bln)
  • Adjusted Diluted EPS ? $12.50 (Previously saw >$13.00)