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Regeneron Pharmaceuticals Earnings: REGN Stock Drops on Q1 Miss

William White

Regeneron Pharmaceuticals earnings for the first quarter of 2019 have REGN stock falling on Tuesday.

Regeneron Pharmaceuticals Earnings: REGN Stock Drops on Q1 Miss

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Regeneron Pharmaceuticals (NASDAQ:REGN) reported earnings per share of $4.45 for the first quarter of the year. This is a drop from the company’s earnings per share of $4.67 from the first quarter of 2018. It was also a major blow to REGN stock by coming in short of Wall Street’s earnings per share estimate of $5.46 for the period.

The Regeneron Pharmaceuticals earnings report for the first quarter of 2019 also includes net income of $461 million. That’s down from the company’s net income of $478 million reported in the same period of the year prior.

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Operating income reported by Regeneron Pharmaceuticals in its earnings report for the first quarter of the year comes in at $480 million. This is a decrease from the company’s operating income of $567 million reported in the first quarter of the previous year.

Regeneron Pharmaceuticals earnings for the first quarter of 2019 has revenue coming in at $1.71 billion. This is better than the company’s revenue of $1.51 billion reported during the same time last year. However, it was bad news for REGN stock by missing analysts’ revenue estimate of $1.76 billion for the quarter.

Regeneron Pharmaceuticals notes that it is now expecting lower reimbursement from Sanofi (NASDAQ:SNY) for 2019. This has it expecting reimbursement between $500 million and $535 million. It was previously expecting this to be in the range of $510 million to $560 million.

REGN stock was down 5% as of Tuesday morning.

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As of this writing, William White did not hold a position in any of the aforementioned securities.

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