Unlock stock picks and a broker-level newsfeed that powers Wall Street.
Regeneron Beats on Q4 Earnings, Initiates Quarterly Dividend

In This Article:

Regeneron Pharmaceuticals, Inc. REGN reported fourth-quarter 2024 earnings per share (EPS) of $12.07, which beat the Zacks Consensus Estimate of $11.62. The company recorded an EPS of $11.86 in the year-ago period.

The upside in the bottom line can be attributed to higher revenues.

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

Total revenues increased 10% year over year to $3.79 billion, fueled by increased collaboration revenues from Sanofi SNY for Dupixent, higher Eylea HD and Libtayo sales. Revenues marginally beat the Zacks Consensus Estimate of $3.78 billion.

Shares are trading up in response to better-than-expected results and initiation of quarterly dividend program.

Regeneron’s shares have lost 28.8% in the past year compared with the industry’s decline of 9%.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

More on REGN’s Q4 Performance

Eylea’s sales in the United States declined 11% year over year to $1.2 billion, primarily due to increased competition.

Please note that Regeneron co-developed Eylea with the HealthCare unit of Bayer AG BAYRY. Regeneron records net product sales of Eylea in the United States and Bayer does the same outside the country. The company records its share of profits in connection with Eylea sales outside the United States as collaboration revenue.

In August 2023, the FDA approved Eylea HD (higher dose of Eylea) for the treatment of patients with wet age-related macular degeneration, diabetic macular edema and diabetic retinopathy.

Eylea HD generated revenues of $305 million in the United States, driven by the addition of new patients and the transition of patients from Eylea.

Total Eylea and Eylea HD sales in the United States were $1.49 billion, up 2% year over year. The figure missed the Zacks Consensus Estimate by 4.29%.

Total Eylea HD and Eylea net product sales were favorably impacted by approximately $85 million as a result of higher wholesaler inventory levels for Eylea, partially offset by lower wholesaler inventory levels for Eylea HD.

Total revenues include collaboration revenues of $1.61 billion from Sanofi and Bayer. The figure increased 17.3% from that recorded in the year-ago quarter. Total collaboration revenues missed the Zacks Consensus Estimate of $1.69 billion.

Sanofi’s collaboration revenues increased 22% to $1.2 billion, driven by profits associated with higher Dupixent sales. However, the figure missed the Zacks Consensus Estimate of $1.3 billion. We note that Sanofi records global net product sales of Dupixent and Kevzara, while Regeneron records its share of profits/losses in connection with the global sales of both drugs. Dupixent’s sales increased 15% year over year to $3.7 billion.