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Gilead Sciences (NASDAQ:GILD) is expected to report a higher Q4 profit on lower revenue Tuesday evening, with investors watching to see how the company’s Hepatitis C and HIV franchises are faring.
Analysts, on average, estimate Gilead will post an adjusted profit of $1.76 per share, compared with $1.67 for the same quarter in 2022. Revenue is anticipated at $7.10B, down from $7.39B the prior year.
For Q3 2023, Gilead reported relatively flat year-over-year revenue due in part to lower sales of its HCV products and COVID-19 treatment Veklury, also known as remdesivir. Certain HIV drugs also underperformed. Despite slowed sales, the company still managed to beat the Street on the top and bottom lines.
Gilead has exceeded Street revenue estimates for the past 8 quarters. It’s managed to top EPS estimates 5 times, but has missed 3 times. Over the past 90 days, 22 analysts have raised their Q4 estimates for the company, while 2 have lowered them.
Gilead watchers will also be looking to see if the company achieves the 2023 forecast it issued in Q3. The company raised its full-year sales outlook to the range of $26.7B to $26.9B, up from its prior view of $26.3B to $26.7B. The sales estimate for Veklury was raised to $1.9B from $1.7B.
Analysts, on average, expect Gilead to report 2023 revenue of $27.08B.