Fourth Quarter 2024 Earnings February 19, 2025 BioMarin regularly uses both GAAP and Non-GAAP results and expectations internally to assess its financial operating performance and evaluate key business decisions related to its principal business activities: the discovery, development, manufacture, marketing and sale of innovative biologic therapies. Because Non- GAAP Income, Non-GAAP Operating Margin percentage, Non-GAAP Diluted EPS, and Non-GAAP Weighted-Average Diluted Shares Outstanding are important int ...

BioMarin Pharmaceutical exceeded earnings and revenue expectations in its Q4 2024 financial results.BioMarin Pharmaceutical (BMRN 1.16%), a leader in developing innovative therapies for rare genetic disorders, reported fourth-quarter 2024 financial results on Wednesday, Feb. 19, that topped analysts' consensus expectations. Adjusted earnings per share (EPS) reached $0.92, significantly outperforming the anticipated $0.53. Revenue in Q4 hit $747 million, exceeding the estimated $712 million and rising 16% ye ...

Financial Performance - Total revenues for Q4 2024 were $747 million, a 16% increase year-over-year, with FY 2024 total revenues reaching $2.85 billion, up 18% year-over-year[7]. - GAAP net income for Q4 2024 increased to $125 million, a 525% rise compared to Q4 2023, while non-GAAP income rose to $180 million, an 89% increase[11]. - BioMarin's GAAP diluted EPS for FY 2024 was $2.21, a 154% increase year-over-year, while non-GAAP diluted EPS was $3.52, up 69% year-over-year[11]. - Net income for the twelve months ended December 31, 2024, was $426.859 million, a significant increase from $167.645 million in 2023, representing a growth of 154%[31]. - Non-GAAP income for the twelve months ended December 31, 2024, was $686 million, up from $405 million in 2023, reflecting a growth of 69%[37]. - Non-GAAP diluted EPS for the twelve months ended December 31, 2024, was $3.52, compared to $2.08 in 2023, indicating a 69% increase[39]. - The company reported total revenues of $747.3 million for Q4 2024, a 15.7% increase from $646.2 million in Q4 2023[26]. - Net product revenues for the full year 2024 reached $2.81 billion, up 18.4% from $2.37 billion in 2023[26]. - The company achieved a net income of $124.9 million in Q4 2024, compared to $20.4 million in Q4 2023, reflecting a significant increase of 514.5%[26]. Revenue Growth Expectations - The company expects 2025 total revenues to be between $3.1 billion and $3.2 billion, representing a 10% year-over-year growth at the midpoint[16]. - The company expects double-digit revenue and profitability growth in 2025, driven by treatments for Skeletal Conditions and the Enzyme Therapies portfolio[22]. - BioMarin anticipates that VOXZOGO will achieve a revenue compound annual growth rate (CAGR) exceeding 25% from 2023 to 2027[10]. Cash Flow and Financial Health - BioMarin's operating cash flows totaled $573 million for FY 2024, a 260% increase compared to FY 2023, with total cash and investments at approximately $1.7 billion[10]. - Cash and cash equivalents increased to $942.8 million as of December 31, 2024, up from $755.1 million in 2023[28]. - Total assets grew to $6.99 billion in 2024, compared to $6.84 billion in 2023, indicating a healthy balance sheet[28]. - BioMarin's total stockholders' equity rose to $5.66 billion in 2024, up from $4.95 billion in 2023, reflecting strong financial health[28]. - Net cash provided by operating activities increased to $572.841 million in 2024 from $159.259 million in 2023, marking a rise of 259%[31]. Clinical Development and Product Expansion - BioMarin plans to submit applications to expand age eligibility for PALYNZIQ in the U.S. and Europe in the second half of 2025, pending supportive clinical data[3]. - The company is advancing five new VOXZOGO indications within its CANOPY clinical program, with pivotal studies expected to complete enrollment in the first half of 2025[7]. - The company plans to advance five new VOXZOGO indications through its CANOPY clinical program[22]. Strategic Initiatives and Organizational Changes - The company incurred severance and restructuring costs related to its 2024 portfolio strategy review, impacting SG&A expenses[40]. - A write-off of capitalized tooling and fixed assets was recorded in SG&A due to the decision to cease development of the first generation VOXZOGO pen device in Q4 2023[41]. - The company announced organizational redesign efforts in Q2 and Q3 2024 as part of its strategic review[40]. - Impairments of certain right-of-use and fixed assets were included in the restructuring costs associated with the 2024 strategy[40]. - The overall performance reflects the company's ongoing adjustments to its portfolio and strategic direction in response to market conditions[40]. Shareholder Information - The company reported a GAAP Weighted-Average Diluted Shares Outstanding of 196.6 million for Q4 2024, compared to 191.8 million for Q4 2023, reflecting an increase of approximately 2.9%[42]. - Non-GAAP Weighted-Average Diluted Shares Outstanding decreased to 196.6 million in Q4 2024 from 200.2 million in Q4 2023, indicating a reduction of about 2.0%[42]. - The company reported a decrease in common stock issuable under convertible debt from 8.4 million in the prior year to none in the current period[42]. - Approximately 4.4 million shares would have been issued under convertible notes due in 2027 if converted, reflecting potential dilution[43].

Strong Execution and Operational Transformation in 2024 Delivered Record Full Year Results and Provides Momentum for Double-Digit Revenue and Profitability Growth in 20254Q 2024 Total Revenues of $747 million (+16% Y/Y and +21% at Constant Currency Y/Y); FY 2024 Total Revenues of $2.85 billion (+18% Y/Y and +22% at Constant Currency Y/Y)Conference Call and Webcast Scheduled Today at 4:30 p.m. ETSAN RAFAEL, Calif., Feb. 19, 2025 /PRNewswire/ -- BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) today announced fina ...

BioMarin Pharmaceutical (BMRN) is scheduled to report fourth-quarter and full-year 2024 earnings on Feb. 19, after market close. In the last reported quarter, BMRN’s earnings beat estimates by 16.67%.The Zacks Consensus Estimate for sales and earnings is pegged at $711.9 million and 73 cents per share, respectively, indicating a significant rise from the year-ago levels.See the Zacks Earnings Calendar to stay ahead of market-making news.Factors Shaping BMRN’s Upcoming ResultsThough BioMarin’s portfolio comp ...

The upcoming report from BioMarin Pharmaceutical (BMRN) is expected to reveal quarterly earnings of $0.73 per share, indicating an increase of 49% compared to the year-ago period. Analysts forecast revenues of $711.93 million, representing an increase of 10.2% year over year.Over the last 30 days, there has been a downward revision of 0.2% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts o ...

Core Viewpoint - The analysis compares BioMarin Pharmaceutical (BMRN) and CSL Limited Sponsored ADR (CSLLY) to determine which stock is more attractive to value investors [1]. Group 1: Zacks Rank and Earnings Outlook - BMRN has a Zacks Rank of 2 (Buy), indicating a positive earnings outlook, while CSLLY has a Zacks Rank of 5 (Strong Sell) [3]. - The Zacks Rank system emphasizes companies with positive earnings estimate revisions, suggesting that BMRN's earnings outlook is improving more significantly than CSLLY's [3][7]. Group 2: Valuation Metrics - BMRN has a forward P/E ratio of 15.85, compared to CSLLY's forward P/E of 22.76, indicating that BMRN may be undervalued relative to CSLLY [5]. - The PEG ratio for BMRN is 0.44, while CSLLY's PEG ratio is 1.47, further suggesting that BMRN is a more attractive value option [5]. - BMRN's P/B ratio is 2.24, significantly lower than CSLLY's P/B of 4.03, reinforcing the notion that BMRN is undervalued [6]. - These metrics contribute to BMRN's Value grade of B and CSLLY's Value grade of F, highlighting BMRN's superior valuation [6].

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SAN RAFAEL, Calif., Feb. 5, 2025 /PRNewswire/ -- BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) today announced that Alexander Hardy, President and Chief Executive Officer of BioMarin, will host a conference call and webcast on Wednesday, February 19, 2025, at 4:30 p.m. ET to discuss fourth quarter and full-year 2024 financial results and provide a general business update.Dial-in Number U.S. / Canada Dial-in Number: 800-715-9871International Dial-in Number: 646-307-1963Conference Call ID: 1878833U.S. / Canada ...

Investors interested in Medical - Biomedical and Genetics stocks are likely familiar with BioMarin Pharmaceutical (BMRN) and CSL Limited Sponsored ADR (CSLLY) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estim ...