Biomarin Pharmaceutical Q1 Adj $0.71 May Not Compare To $0.34 Estimate, Sales $648.83M Miss $651.79M Estimate
Portfolio Pulse from Benzinga Newsdesk
Biomarin Pharmaceutical (NASDAQ:BMRN) reported Q1 adjusted earnings of $0.71 per share, surpassing the $0.34 estimate, marking a 108.82% beat and an 18.33% increase from last year's $0.60. However, their Q1 sales of $648.83M fell short of the $651.79M estimate by 0.45%, though it's an 8.79% increase from the previous year.

April 24, 2024 | 8:05 pm
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Biomarin Pharmaceutical reported a significant earnings beat and a slight miss on sales forecasts for Q1.
The substantial beat on earnings per share (EPS) expectations is likely to positively impact investor sentiment and potentially the stock price in the short term, despite the slight miss on sales. The earnings beat demonstrates strong profitability and operational efficiency, which are key drivers of stock performance. However, the slight miss on sales forecasts could temper some of the positive momentum, but given the small margin of the miss and the overall positive earnings report, the net effect is expected to be positive.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100