Incyte Q4 Adj. EPS Misses Estimates, Revenues Beat; Sees Revenue Growth In FY25

Incyte

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(RTTNews) - Pharma company Incyte Corp. (INCY) reported Monday slightly higher earnings in its fourth quarter with strong growth in revenues. Adjusted earnings missed the Wall Street view, while top line beat the estimates.

In pre-market activity on the Nasdaq, Incyte shares were trading at $75.40, up 1.7 percent.

For the quarter, net income edged up to $201.21 million from last year's $201.08 million. Earnings per share were $1.02, up from $0.89 a year ago.

Adjusted net income was $281.35 million or $1.43 per share, compared to $239.12 million or $1.06 per share last year. The Wall Street analysts on average expected the company to report earnings of $1.55 per share. Analysts' estimates typically exclude special items.

Total revenues grew 16 percent to $1.179 billion from last year's $1.013 billion. The Street was looking for revenues of $1.15 billion for the quarter.

Looking ahead, the company noted that 2025 is expected to be a year of defining catalysts with four launches, four pivotal study readouts, at least three Phase 3 study initiations and seven proof of concept study readouts.

Incyte expects to deliver at least 18 key milestones in 2025.

Hervé Hoppenot, Chief Executive Officer, Incyte, said, "Looking ahead to 2025, we anticipate a year of continued strong revenue growth and diversification, as well as several defining milestones that will serve as an inflection point for Incyte. A year ago, we set the goal to achieve more than 10 impactful product launches by 2030. In 2025, a number of key catalysts across the entire portfolio will bring that goal closer to reality."

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