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United Therapeutics (UTHR) Up 5.2% Since Last Earnings Report: Can It Continue?
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It has been about a month since the last earnings report for United Therapeutics (UTHR - Free Report) . Shares have added about 5.2% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is United Therapeutics due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Q3 Earnings & Revenues Beat Estimates
United Therapeutics’ third-quarter 2023 earnings of $5.38 per share beat the Zacks Consensus Estimate of $4.89. Earnings rose 10% year over year on the back of higher product sales.
Revenues in the reported quarter were $609.4 million, beating the Zacks Consensus Estimate of $576.5 million. Revenues rose 18% year over year, driven by Tyvaso sales.
Quarter in Detail
Tyvaso sales totaled $325.8 million, up 26% year over year. Tyvaso revenues included $205.1 million in sales from the Tyvaso DPI formulation, which was launched in 2022 and $120.7 million in sales from nebulized Tyvaso.
Sales of Tyvaso DPI rose 225% in the quarter, driven by higher volumes and continued growth in utilization by patients with PH-ILD. Sales of nebulized Tyvaso declined 38% due to lower volumes following patient switch to Tyvaso DPI. Tyvaso sales beat the Zacks Consensus Estimate of $305 million and our model estimate of $309.1 million.
Remodulin (including Remunity Pump) sales rose 15% year over year to $131.1 million, while Orenitram sales rose 5% year over year, amounting to $92.0 million.
Unituxin sales rose 11% year over year to $51.3 million. Adcirca sales were $7.3 million, down 32% year over year.
Research and development expenses were $84.7 million in the quarter, up 28% year over year. Selling, general and administrative expenses were up 30% to $127.6 million in the quarter.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates review.
VGM Scores
At this time, United Therapeutics has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending downward for the stock, and the magnitude of these revisions looks promising. Notably, United Therapeutics has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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United Therapeutics (UTHR) Up 5.2% Since Last Earnings Report: Can It Continue?
It has been about a month since the last earnings report for United Therapeutics (UTHR - Free Report) . Shares have added about 5.2% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is United Therapeutics due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Q3 Earnings & Revenues Beat Estimates
United Therapeutics’ third-quarter 2023 earnings of $5.38 per share beat the Zacks Consensus Estimate of $4.89. Earnings rose 10% year over year on the back of higher product sales.
Revenues in the reported quarter were $609.4 million, beating the Zacks Consensus Estimate of $576.5 million. Revenues rose 18% year over year, driven by Tyvaso sales.
Quarter in Detail
Tyvaso sales totaled $325.8 million, up 26% year over year. Tyvaso revenues included $205.1 million in sales from the Tyvaso DPI formulation, which was launched in 2022 and $120.7 million in sales from nebulized Tyvaso.
Sales of Tyvaso DPI rose 225% in the quarter, driven by higher volumes and continued growth in utilization by patients with PH-ILD. Sales of nebulized Tyvaso declined 38% due to lower volumes following patient switch to Tyvaso DPI. Tyvaso sales beat the Zacks Consensus Estimate of $305 million and our model estimate of $309.1 million.
Remodulin (including Remunity Pump) sales rose 15% year over year to $131.1 million, while Orenitram sales rose 5% year over year, amounting to $92.0 million.
Unituxin sales rose 11% year over year to $51.3 million. Adcirca sales were $7.3 million, down 32% year over year.
Research and development expenses were $84.7 million in the quarter, up 28% year over year. Selling, general and administrative expenses were up 30% to $127.6 million in the quarter.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates review.
VGM Scores
At this time, United Therapeutics has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending downward for the stock, and the magnitude of these revisions looks promising. Notably, United Therapeutics has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.