Gilead Sciences Inc. (GILD) is set to report FQ2 2014 earnings after the market closes on Wednesday, July 23rd. Gilead Sciences is a biotechnology company that throughout its history has primarily focused on antiviral drugs to treat infections such as HIV and hepatitis B. Wednesday’s report from Gilead is one of the most anticipated releases of the entire corporate earnings season because of a recently released drug designed for the treatment of hepatitis C. Analysts have predicted that year over year sales could be up anywhere from 79% to 171%. While no individual can claim to have any clue what’s going to happen, here are the crowdsourced earnings expectations from Estimize.com.
This quarter 39 contributing analysts on Estimize.com have come to a consensus earnings expectation of $1.90 EPS and $5.942B in revenue compared to a consensus of $1.80 EPS and $5.777B from Wall Street. Over the previous 6 quarters the consensus from Estimize.com has been more accurate than Wall Street in forecasting Gilead’s EPS and revenue 2 and 4 times each respectively.
Last quarter Gilead’s earnings skyrocketed as the company released a new drug for the treatment of hepatitis C, Sovaldi. According to the World Health Organization, approximately 3% of the world’s population is living with the hepatitis C infection, leaving plenty of room for growth in the distribution and sales of Gilead’s new drug. This quarter there is a very wide range of sales estimates from both Wall Street and Estimize. Everyone generally agrees that sales will be up from last quarter, but analysts have extremely different opinions about the magnitude of revenue growth or how the firm’s bottom line will be affected. The range of estimates is visualized below.
Estimize is completely open and free for anyone to contribute, and the base of contributing analysts on the platform includes hedge fund analysts, asset managers, independent research shops, non professional investors, and students.
The Estimize consensus was more accurate than the Wall Street consensus 65% of the time last quarter on the coverage of nearly 1000 stocks. A combination of algorithms ensures that the data is not only clean and free from people attempting to game the system, but also weighs past performance and many other factors to gauge future accuracy.
Contributing analysts on the Estimize.com platform are forecasting that on Wednesday Gilead will report earnings 10c (6%) per share ahead of Wall Street’s EPS forecast and beat the Street’s revenue consensus by $165 million (3%). On Wednesday we will see just how much higher Sovaldi can fuel Gilead’s earnings.
Head over to Estimize.com/calendar to follow the most comprehensive earnings season calendar on the web featuring consensus estimates from Wall Street and the Estimize community.
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