The company said total revenues for Q1 2024 rose 22% year over year to $7.4 billion, product sales grew 22%, and volume growth was 25%. Sales from the Horizon Therapeutics acquisition were $914 million.

1. 01

   The company said total revenues for Q1 2024 rose 22% year over year to $7.4 billion, product sales grew 22%, and volume growth was 25%. Sales from the Horizon Therapeutics acquisition were $914 million.

2. 02

   The company said GAAP loss per share for Q1 was $0.21 (versus GAAP EPS of $5.28 a year earlier). It cited a mark-to-market loss on its BeiGene, Ltd. equity investment and higher Horizon-related expenses as factors. Non-GAAP EPS fell 1%, from $3.98 to $3.96.

3. 03

   The company said non-GAAP operating margin for Q1 was 43.2%, down 5.1 percentage points. Free cash flow was $0.5 billion (versus $0.7 billion a year earlier), and the company cited a $800 million tax deposit as a factor in the decline.

4. 04

   The company said it expects full-year 2024 total revenues of $32.5 billion to $33.8 billion and non-GAAP EPS of $19.00 to $20.20. Cash and investments totaled $9.7 billion and debt outstanding totaled $64.0 billion as of March 31, 2024.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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