Seattle Genetics reported $603.83 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 21.4%. EPS of -$1.13 for the same period compares to -$0.73 a year ago.
The reported revenue represents a surprise of +8.67% over the Zacks Consensus Estimate of $555.68 million. With the consensus EPS estimate being -$0.78, the EPS surprise was -44.87%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: $543.97 million versus $500.63 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +26% change.
- Collaboration and license agreement revenues: $8.67 million compared to the $11.79 million average estimate based on nine analysts. The reported number represents a change of -67.5% year over year.
- Net product sales- Tukysa: $99 million compared to the $88.55 million average estimate based on eight analysts. The reported number represents a change of +11.2% year over year.
- Royalty revenues: $51.19 million versus the eight-analyst average estimate of $42.45 million. The reported number represents a year-over-year change of +30.9%.
- Net product sales- Padcev: $161 million versus $143.49 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +30.3% change.
- Net product sales- Adcetris: $262 million versus the eight-analyst average estimate of $245.84 million. The reported number represents a year-over-year change of +29.8%.
- Net product sales- Tivdak: $22 million versus the eight-analyst average estimate of $23.27 million. The reported number represents a year-over-year change of +27.9%.
View all Key Company Metrics for Seattle Genetics here>>>Shares of Seattle Genetics have returned -1% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Seattle Genetics (SGEN) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
Seattle Genetics reported $603.83 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 21.4%. EPS of -$1.13 for the same period compares to -$0.73 a year ago.
The reported revenue represents a surprise of +8.67% over the Zacks Consensus Estimate of $555.68 million. With the consensus EPS estimate being -$0.78, the EPS surprise was -44.87%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: $543.97 million versus $500.63 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +26% change.
- Collaboration and license agreement revenues: $8.67 million compared to the $11.79 million average estimate based on nine analysts. The reported number represents a change of -67.5% year over year.
- Net product sales- Tukysa: $99 million compared to the $88.55 million average estimate based on eight analysts. The reported number represents a change of +11.2% year over year.
- Royalty revenues: $51.19 million versus the eight-analyst average estimate of $42.45 million. The reported number represents a year-over-year change of +30.9%.
- Net product sales- Padcev: $161 million versus $143.49 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +30.3% change.
- Net product sales- Adcetris: $262 million versus the eight-analyst average estimate of $245.84 million. The reported number represents a year-over-year change of +29.8%.
- Net product sales- Tivdak: $22 million versus the eight-analyst average estimate of $23.27 million. The reported number represents a year-over-year change of +27.9%.
View all Key Company Metrics for Seattle Genetics here>>>Shares of Seattle Genetics have returned -1% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.