Seattle Genetics (SGEN) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates

For the quarter ended March 2023, Seattle Genetics (SGEN) reported revenue of $519.72 million, up 21.9% over the same period last year. EPS came in at -$0.93, compared to -$0.74 in the year-ago quarter.

The reported revenue represents a surprise of -0.23% over the Zacks Consensus Estimate of $520.94 million. With the consensus EPS estimate being -$0.82, the EPS surprise was -13.41%.

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 Seattle Genetics performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Net product sales: $468.64 million compared to the $477.73 million average estimate based on nine analysts. The reported number represents a change of +22.3% year over year.

• Royalty revenues: $30 million versus $37.62 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +6.4% change.

• Collaboration and license agreement revenues: $20.90 million versus $11.74 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +37.5% change.

• Net product sales- Tukysa: $87 million compared to the $88.36 million average estimate based on seven analysts. The reported number represents a change of -3.9% year over year.

• Net product sales- Padcev: $119 million versus the seven-analyst average estimate of $132.63 million. The reported number represents a year-over-year change of +18.8%.

• Net product sales- Adcetris: $243 million versus the seven-analyst average estimate of $235.60 million. The reported number represents a year-over-year change of +34.3%.

• Net product sales- Tivdak: $19 million compared to the $21.02 million average estimate based on seven analysts. The reported number represents a change of +66.7% year over year.

View all Key Company Metrics for Seattle Genetics here>>>

Shares of Seattle Genetics have returned -0.4% over the past month versus the Zacks S&P 500 composite's +2.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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