Quarterly ResultMay 5, 2026, 02:06 PM
BioMarin Q1 Net Income $105.5M, down 43%; Revenue $766.2M, up 2.8%
AI Summary
BioMarin Pharmaceutical Inc. reported a significant decrease in net income and diluted EPS for the first quarter of 2026, despite a modest increase in total revenues. Net income fell 43.17% to $105.5 million, with diluted EPS at $0.54. Total revenues grew 2.82% to $766.2 million, driven by a 3.46% rise in net product revenues. The company also issued $850.0 million in senior unsecured notes in February 2026, with proceeds earmarked for the Amicus acquisition, which closed in April 2026.
Key Highlights
- Net income for Q1 2026 decreased 43.17% to $105.5 million from $185.7 million in Q1 2025.
- Diluted EPS for Q1 2026 was $0.54, down from $0.95 in Q1 2025.
- Total revenues for Q1 2026 increased 2.82% to $766.2 million from $745.1 million in Q1 2025.
- Net product revenues rose 3.46% to $760.1 million in Q1 2026 from $734.6 million in Q1 2025.
- Cash and cash equivalents increased to $2.22 billion as of March 31, 2026, from $1.31 billion at December 31, 2025.
- Long-term debt, net, increased to $1.43 billion as of March 31, 2026, from $597.2 million at December 31, 2025.
- Issued $850.0 million in 5.5% senior unsecured notes due February 2034, with proceeds for the Amicus acquisition.
- The Bridge Commitment for the Amicus acquisition was reduced to $2.8 billion after the 2034 Notes issuance.
Price Impact
More from BMRN