Biopharma company Jazz Pharmaceuticals (NASDAQ: JAZZ) will be reporting earnings this Wednesday afternoon. Here’s what to expect.
Jazz Pharmaceuticals met analysts’ revenue expectations last quarter, reporting revenues of $1.05 billion, up 2.1% year on year. It was a slower quarter for the company, with full-year EBITDA guidance missing analysts’ expectations significantly and a significant miss of analysts’ EPS estimates.
Is Jazz Pharmaceuticals a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Jazz Pharmaceuticals’s revenue to grow 5.3% year on year to $1.11 billion, slowing from the 8.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $5.85 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Jazz Pharmaceuticals has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Jazz Pharmaceuticals’s peers in the pharmaceuticals segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Eli Lilly delivered year-on-year revenue growth of 53.9%, beating analysts’ expectations by 9.6%, and Bristol-Myers Squibb reported revenues up 2.9%, topping estimates by 3.7%. Eli Lilly traded up 6% following the results while Bristol-Myers Squibb was also up 8.1%.
Read our full analysis of Eli Lilly’s results here and Bristol-Myers Squibb’s results here.
Investors in the pharmaceuticals segment have had steady hands going into earnings, with share prices flat over the last month. Jazz Pharmaceuticals is down 1.1% during the same time and is heading into earnings with an average analyst price target of $188.12 (compared to the current share price of $136.02).
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