Recap: Biomarin Pharmaceutical Q4 Earnings
Portfolio Pulse from Benzinga Insights
Biomarin Pharmaceutical (NASDAQ:BMRN) reported Q4 earnings, surpassing estimates with an EPS of $0.49 against the expected $0.23, and revenue increased by $108.67 million year-over-year. Despite past performance showing a share price drop following earnings beats, the company provided a positive FY 2024 earnings guidance of $2.6 to $2.8 per share.
February 22, 2024 | 9:16 pm
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Biomarin Pharmaceutical reported a significant Q4 earnings beat with an EPS of $0.49, far exceeding the $0.23 estimate, and a notable year-over-year revenue increase. The company also provided optimistic FY 2024 earnings guidance.
Biomarin's substantial earnings beat and positive future earnings guidance are likely to instill investor confidence and potentially drive the stock price up in the short term. Historically, the company's stock reacted negatively to earnings beats, but the strong guidance may counteract this trend.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100