Quarterly ResultMay 7, 2026, 04:10 PM
Gilead Q1 Revenue $7.0B; FY26 EPS Guidance Cut to $(3.25)-$(2.85)
AI Summary
Gilead Sciences announced strong first quarter 2026 financial results, with total revenues increasing 4% to $7.0 billion and diluted EPS rising to $1.61. Product sales excluding Veklury grew 8% year-over-year, driven by robust HIV product sales, particularly Biktarvy. The company raised its full-year 2026 revenue guidance but significantly reduced its GAAP and non-GAAP diluted EPS guidance due to anticipated acquired in-process research and development (IPR&D) charges of $11.5 billion and financing costs related to recent acquisitions, including Arcellx, Ouro Medicines, and Tubulis.
Key Highlights
- Q1 2026 total revenues increased 4% to $7.0 billion compared to Q1 2025.
- Q1 2026 diluted EPS was $1.61, up from $1.04 in the same period last year.
- Q1 2026 product sales excluding Veklury grew 8% year-over-year to $6.8 billion.
- HIV product sales increased 10% to $5.0 billion, with Biktarvy sales up 7% to $3.4 billion.
- Full-year 2026 product sales guidance raised to $30.0 billion - $30.4 billion.
- Full-year 2026 GAAP diluted EPS guidance cut to $(3.25) - $(2.85) due to $11.5 billion in IPR&D charges.
- Completed the acquisition of Arcellx for an implied equity value of $7.8 billion.
- The Board declared a quarterly dividend of $0.82 per share for Q2 2026.