Analyst Conference Summary

biotechnology

conference date: February 11, 2025 @ 1:30 PM Pacific Time
for quarter ending: December 31, 2024 (fourth quarter, Q4 2024)

Forward-looking statements

Overview:

Basic data (GAAP):

Revenue was $ billion, up % sequentially from $7.55 billion and up % from $ billion in the year-earlier quarter.

Net income was $ billion, down % sequentially from $1.25 billion and down % from $ billion year-earlier.

Earnings per share (EPS, diluted) were $, down % sequentially from $1.00, and down % from $ in the year-earlier quarter.

Guidance:

Conference Highlights:

Daniel O'Day, CEO, said ""

The dividend of $0.77 per share, is to be paid on 30, 2025 to shareholders of record as of March , 2025.

In Q3 2024 Lenacapavir for HIV reported positive Phase 3 results for twice-yearly prevention. For oral once-weekly dose combined with Merck's islatravir Phase 2 data also reported. Six royalty-free licensing agreements were signed with manufacturers for sale in resource-limited nations. On track to file with FDA for lenacapavir before the end of 2024.

Anito-cel tech transfer completed. Ready to launch the Phase 3 iMMagine-3 trial in late 2024 for second to fourth line multiple myeloma patients. Data at ASH next month.

Gilead now has 61 clinical stage programs. Expects cancer program to generate one-third of revenue by 2030.

Non-GAAP numbers: Net income was $ billion, up sequentially from $2.53 billion and down % from $ billion year-earlier. Non-GAAP EPS was $, up slightly sequentially from $2.02 and down % from $ year-earlier.

Product sales were $ billion, up % sequentially from $7.52 billion and up % from $ billion in the year-earlier quarter.

Royalty, contract and other revenue was $ million, down sequentially from $30 million, and down from $ million year-earlier.

Cash and equivalents ended at $ billion, up sequentially from $5.0 billion. $ billion cash flow from operations. Capital expense $ million. $ billion free cash flow. $ million was used to repurchase shares. $ million paid in dividends. Long term liabilities were $ billion.

Numerous other studies are underway or planned; see Gilead pipeline.

Expenses were $ billion, consisting of $ billion for cost of goods sold; $ billion for R&D; $ million acquired in-process R&D; $ billion IPRD impairment; $ billion SG&A. Leaving income from operations of $ million. Interest expense $ million. Other Income $ million. Income tax benefit $ million.

Capital allocation priorities are to grow the dividend and pay down debt. No near term plans for a major acquisition.

Q&A selective summary:

OpenIcon Analyst Conference Summaries Main Page

Gilead Investor Relations page

More Gilead analyst conference summaries

Search

More Analyst Conference Pages: