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Why Is United Therapeutics (UTHR) Up 8.9% Since Last Earnings Report?
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A month has gone by since the last earnings report for United Therapeutics (UTHR - Free Report) . Shares have added about 8.9% in that time frame, outperforming 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 the most recent earnings report in order to get a better handle on the important catalysts.
Q4 Earnings & Revenues Beat Estimates
United Therapeutics’ fourth-quarter 2023 earnings of $4.36 per share beat the Zacks Consensus Estimate of $3.92. Earnings rose 63% year over year on the back of higher product sales.
Revenues in the reported quarter were $614.7 million, beating the Zacks Consensus Estimate of $562 million. Revenues rose 25% year over year, driven by Tyvaso sales.
Quarter in Detail
Tyvaso sales totaled $350.6 million, up 45% year over year. Tyvaso revenues comprised $213.7 million in sales from the Tyvaso DPI formulation, which was launched in 2022 and $136.9 million in sales from nebulized Tyvaso. Sales of Tyvaso DPI rose 132% in the quarter, driven by higher volumes and continued growth in utilization by patients with PH-ILD. Sales of nebulized Tyvaso declined 9% due to lower volumes following patient switch to Tyvaso DPI.
Tyvaso sales beat the Zacks Consensus Estimate of $321 million and our model estimate of $309 million.
Remodulin (including Remunity Pump) sales fell 6% year over year to $115.1 million, while Orenitram sales rose 11% year over year to $84.1 million.
Unituxin sales rose 48% year over year to $54.2 million. Adcirca sales were $6.8 million, down 35% year over year.
Research and development expenses were $151.4 million in the quarter, up 61% year over year. Selling, general and administrative expenses declined 19% to $132.2 million in the quarter.
Full-Year Results
United Therapeutics reported total revenues of $2.33 billion, up 20% year over year. The upside was driven by growth in sales of Tyvaso and Orenitram.
The company’s reported earnings for 2023 were $19.81 per share, up 32% from the year-ago period.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in fresh estimates.
The consensus estimate has shifted 11.77% due to these changes.
VGM Scores
At this time, United Therapeutics has a poor Growth Score of F, however its Momentum Score is doing a lot better with an A. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the second quintile 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 upward 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.
Performance of an Industry Player
United Therapeutics is part of the Zacks Medical - Drugs industry. Over the past month, Corcept Therapeutics (CORT - Free Report) , a stock from the same industry, has gained 7.7%. The company reported its results for the quarter ended December 2023 more than a month ago.
Corcept reported revenues of $135.41 million in the last reported quarter, representing a year-over-year change of +31.4%. EPS of $0.28 for the same period compares with $0.14 a year ago.
For the current quarter, Corcept is expected to post earnings of $0.18 per share, indicating a change of +28.6% from the year-ago quarter. The Zacks Consensus Estimate has changed +7.5% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Corcept. Also, the stock has a VGM Score of C.
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Why Is United Therapeutics (UTHR) Up 8.9% Since Last Earnings Report?
A month has gone by since the last earnings report for United Therapeutics (UTHR - Free Report) . Shares have added about 8.9% in that time frame, outperforming 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 the most recent earnings report in order to get a better handle on the important catalysts.
Q4 Earnings & Revenues Beat Estimates
United Therapeutics’ fourth-quarter 2023 earnings of $4.36 per share beat the Zacks Consensus Estimate of $3.92. Earnings rose 63% year over year on the back of higher product sales.
Revenues in the reported quarter were $614.7 million, beating the Zacks Consensus Estimate of $562 million. Revenues rose 25% year over year, driven by Tyvaso sales.
Quarter in Detail
Tyvaso sales totaled $350.6 million, up 45% year over year. Tyvaso revenues comprised $213.7 million in sales from the Tyvaso DPI formulation, which was launched in 2022 and $136.9 million in sales from nebulized Tyvaso. Sales of Tyvaso DPI rose 132% in the quarter, driven by higher volumes and continued growth in utilization by patients with PH-ILD. Sales of nebulized Tyvaso declined 9% due to lower volumes following patient switch to Tyvaso DPI.
Tyvaso sales beat the Zacks Consensus Estimate of $321 million and our model estimate of $309 million.
Remodulin (including Remunity Pump) sales fell 6% year over year to $115.1 million, while Orenitram sales rose 11% year over year to $84.1 million.
Unituxin sales rose 48% year over year to $54.2 million. Adcirca sales were $6.8 million, down 35% year over year.
Research and development expenses were $151.4 million in the quarter, up 61% year over year. Selling, general and administrative expenses declined 19% to $132.2 million in the quarter.
Full-Year Results
United Therapeutics reported total revenues of $2.33 billion, up 20% year over year. The upside was driven by growth in sales of Tyvaso and Orenitram.
The company’s reported earnings for 2023 were $19.81 per share, up 32% from the year-ago period.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in fresh estimates.
The consensus estimate has shifted 11.77% due to these changes.
VGM Scores
At this time, United Therapeutics has a poor Growth Score of F, however its Momentum Score is doing a lot better with an A. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the second quintile 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 upward 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.
Performance of an Industry Player
United Therapeutics is part of the Zacks Medical - Drugs industry. Over the past month, Corcept Therapeutics (CORT - Free Report) , a stock from the same industry, has gained 7.7%. The company reported its results for the quarter ended December 2023 more than a month ago.
Corcept reported revenues of $135.41 million in the last reported quarter, representing a year-over-year change of +31.4%. EPS of $0.28 for the same period compares with $0.14 a year ago.
For the current quarter, Corcept is expected to post earnings of $0.18 per share, indicating a change of +28.6% from the year-ago quarter. The Zacks Consensus Estimate has changed +7.5% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Corcept. Also, the stock has a VGM Score of C.