Biomarin Pharmaceutical Q2 Adj $0.54 Beats $0.47 Estimate, Sales $595.27M Beat $591.46M Estimate
Portfolio Pulse from Benzinga Newsdesk
Biomarin Pharmaceutical reported Q2 earnings of $0.29 per share, missing the analyst consensus estimate of $0.47 by 38.3%. However, the company's quarterly sales of $595.27 million beat the estimate of $591.46 million by 0.65%. This represents a 93.33% increase in earnings and a 11.52% increase in sales compared to the same period last year.
July 31, 2023 | 8:19 pm
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Biomarin Pharmaceutical's Q2 earnings missed estimates but sales exceeded expectations. Despite the earnings miss, both earnings and sales showed significant year-over-year growth.
While the company missed earnings estimates, the beat on sales and the significant year-over-year growth in both earnings and sales could balance out the impact on the stock. The market's reaction will depend on whether investors focus more on the earnings miss or the sales beat and growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100