Incyte (INCY) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, Incyte (INCY) reported revenue of $919.03 million, up 11.6% over the same period last year. EPS came in at $1.10, compared to $0.60 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $973.32 million, representing a surprise of -5.58%. The company delivered an EPS surprise of +0.92%, with the consensus EPS estimate being $1.09.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Incyte performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net product revenues- Pemazyre: $18.94 million versus the 10-analyst average estimate of $23.50 million.
Revenues- Product royalty revenues: $130.83 million compared to the $138.06 million average estimate based on seven analysts. The reported number represents a change of +18.6% year over year.
Revenues- Product revenues: $783.20 million versus $834.53 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +9.8% change.
Net product revenues- Iclusig: $27.72 million versus the five-analyst average estimate of $27.31 million. The reported number represents a year-over-year change of +6.9%.
Net product revenues- Minjuvi: $8.35 million compared to the $7.54 million average estimate based on five analysts.
Net product revenues- Jakafi: $636.25 million versus $676.70 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +2.7% change.
Royalty revenues- Tabrecta: $4.14 million versus $5.67 million estimated by four analysts on average.
Royalty revenues- Olumiant: $29.62 million versus the four-analyst average estimate of $35.42 million. The reported number represents a year-over-year change of +45.4%.
Net product revenues- Opzelura: $91.84 million compared to the $99.41 million average estimate based on four analysts.
Royalty revenues- Jakavi: $96.55 million versus $96.30 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +12.5% change.
Milestone and contract revenues: $5 million compared to the $25 million average estimate based on two analysts.
View all Key Company Metrics for Incyte here>>>
Shares of Incyte have returned -10.2% over the past month versus the Zacks S&P 500 composite's -2.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Incyte Corporation (INCY) : Free Stock Analysis Report
