Sales Performance - Total product sales for full year 2024 increased 6% to $28.6 billion compared to 2023, with product sales excluding Veklury increasing 8% to $26.8 billion[13] - HIV product sales for full year 2024 increased 8% to $19.6 billion, driven by higher demand and increased average realized price[13] - Biktarvy sales increased 13% to $13.4 billion for full year 2024, primarily due to higher demand[18] - Total fourth quarter 2024 product sales increased 7% to $7.5 billion compared to the same period in 2023, with sales excluding Veklury increasing 13% to $7.2 billion[4] - Total revenues for Q4 2024 were $7,569 million, a 6% increase from $7,115 million in Q4 2023[41] - Product sales reached $7,536 million in Q4 2024, up 7% from $7,070 million in Q4 2023[41] - HIV product sales increased by 16% to $5,452 million in Q4 2024 compared to $4,693 million in Q4 2023[41] - Total product sales for the twelve months ended December 31, 2024, reached $28,610 million, compared to $26,934 million for the same period in 2023, a growth of 6.2%[56] Financial Performance - Diluted EPS for fourth quarter 2024 increased to $1.42 compared to $1.14 in the same period in 2023, driven by lower costs of goods sold and higher product sales[6] - Operating income for Q4 2024 was $2,451 million, with an operating margin of 32.4%, compared to 22.7% in Q4 2023[41] - Net income attributable to Gilead for Q4 2024 was $1,783 million, an increase from $1,429 million in Q4 2023[41] - Basic earnings per share attributable to Gilead were $1.43 for Q4 2024, up from $1.15 in Q4 2023[41] - GAAP operating income increased to $2,451 million in Q4 2024 from $1,612 million in Q4 2023, while non-GAAP operating income rose to $3,114 million from $2,739 million[45] - Non-GAAP net income attributable to Gilead for Q4 2024 was $2,390 million, compared to $2,161 million in Q4 2023, with GAAP net income at $1,783 million versus $1,429 million[45] Research and Development - R&D expenses for full year 2024 were $5.9 billion, reflecting incremental investments and clinical activities across the portfolio[18] - Research and development expenses for Q4 2024 were $1,641 million, representing 21.7% of total revenues, up from 19.8% in Q4 2023[41] - Presented full results from the Phase 3 PURPOSE 2 trial for investigational twice-yearly lenacapavir for HIV prevention, published in the New England Journal of Medicine[26] - Completed New Drug Application submissions to the FDA and EMA for twice-yearly lenacapavir for HIV prevention[26] - Received Breakthrough Therapy Designation from the FDA for Trodelvy in treating extensive-stage small cell lung cancer[26] - Entered into a collaboration with Tubulis to develop an antibody-drug conjugate candidate for solid tumors[26] - Announced a strategic partnership with LEO Pharma to develop a pre-clinical oral STAT6 program for inflammatory diseases[26] - Entered into a strategic research collaboration with Terray to discover novel small molecule therapies using AI[26] Cash Flow and Assets - Cash dividends declared per share increased to $0.77 in Q4 2024 from $0.75 in Q4 2023[41] - Net cash provided by operating activities for the twelve months ended December 31, 2024, was $10,828 million, up from $8,006 million in 2023[51] - Free cash flow for the twelve months ended December 31, 2024, was $10,305 million, compared to $7,421 million in 2023[51] - Total assets decreased from $62,125 million in 2023 to $58,995 million in 2024[49] - Cash and cash equivalents increased from $6,085 million at the end of 2023 to $9,991 million at the end of 2024[51] Future Guidance - For full-year 2025, Gilead expects product sales to be between $28.2 billion and $28.6 billion, with diluted EPS guidance of $5.95 to $6.35[20] - Projected non-GAAP product gross margin is expected to be between 85.0% and 86.0%, compared to GAAP projected gross margin of 77.0% to 78.0%[47] - GAAP projected operating income is estimated to be between $10,200 million and $10,700 million, while non-GAAP projected operating income is expected to be between $12,700 million and $13,200 million[47] - The projected effective tax rate is approximately 20% for GAAP, while the non-GAAP effective tax rate is expected to be around 19%[47] - GAAP projected diluted EPS is estimated to be between $5.95 and $6.35, with non-GAAP projected diluted EPS expected to be between $7.70 and $8.10[47] Market Performance - Total product sales for the U.S. reached $5,550 million in Q4 2024, an increase from $5,180 million in Q4 2023, representing a growth of 7.1%[56] - Total product sales in Europe were $1,160 million for Q4 2024, slightly up from $1,128 million in Q4 2023, indicating a growth of 2.8%[56] - Total product sales in the Rest of World segment increased to $826 million in Q4 2024 from $762 million in Q4 2023, reflecting a growth of 8.4%[56] - Total Oncology sales in the U.S. were $461 million for Q4 2024, down from $479 million in Q4 2023, a decline of 3.8%[56] - Total Cell Therapy sales in the U.S. decreased to $213 million in Q4 2024 from $253 million in Q4 2023, a decline of 15.8%[56] - Trodelvy sales in the U.S. increased to $247 million in Q4 2024, up from $226 million in Q4 2023, representing a growth of 9.3%[56] - Total Oncology sales in Europe increased to $269 million in Q4 2024 from $216 million in Q4 2023, a growth of 24.5%[56] - Total Cell Therapy sales for the twelve months ended December 31, 2024, were $1,973 million, up from $1,869 million in 2023, reflecting a growth of 5.6%[56] - Trodelvy sales for the twelve months ended December 31, 2024, reached $1,315 million, an increase from $1,063 million in 2023, representing a growth of 23.7%[56]

Gilead Sciences (NASDAQ: GILD ) is a market leader for HIV drug manufacturing, urgently diversifying its product portfolio as its blockbuster drugs lose exclusivity in 2033. At $85, the stock would price in 2% revenue growth, which would be in line withI am an individual investor and student of value investing. I specialize in strategic analysis of situations, trying to assess stocks with common sense and simple valuation models to add robustness to my thinking. I am sector agnostic and my primary focus in ...

Core Viewpoint - Gilead Sciences, Inc. is expected to report its fourth-quarter and full-year 2024 results on February 11, with sales and earnings estimates at $7.06 billion and $1.66 per share respectively [1] Earnings Performance - Gilead has beaten earnings estimates in three of the last four quarters, with an average surprise of 15.46% [2] Earnings Prediction - The model predicts an earnings beat for Gilead, supported by a positive Earnings ESP of +1.70% and a Zacks Rank of 3 (Hold) [3] Factors Influencing Q4 Results - Gilead's HIV franchise, particularly Biktarvy and Descovy, is expected to drive sales, with Biktarvy sales estimated at $3.46 billion and Descovy at $574 million [4][5] - The Liver Disease portfolio is likely to benefit from increased demand for viral hepatitis medicines and the launch of Livdelzi for primary biliary cholangitis [5][6] Sales Estimates - Sales for Cell Therapy products are estimated at $480 million, with a potential decrease due to competitive pressures [7] - Trodelvy sales are estimated at $282 million, with potential impacts from market conditions [8][9] Recent Developments - Trodelvy received Breakthrough Therapy Designation from the FDA for extensive-stage small cell lung cancer [10] - The European Medicines Agency recommended seladelpar for PBC treatment, with a final decision expected in Q1 2025 [11] Stock Performance - Gilead's shares have increased by 31.8% over the past year, contrasting with a 6.3% decline in the industry [14]

Wall Street analysts expect Gilead Sciences (GILD) to post quarterly earnings of $1.66 per share in its upcoming report, which indicates a year-over-year decline of 3.5%. Revenues are expected to be $7.06 billion, down 0.8% from the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 10.7% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Ahead of a company's earnin ...

The most recent trading session ended with Gilead Sciences (GILD) standing at $99.65, reflecting a +1.69% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 0.39%. At the same time, the Dow added 0.71%, and the tech-heavy Nasdaq gained 0.2%.Heading into today, shares of the HIV and hepatitis C drugmaker had gained 8.12% over the past month, outpacing the Medical sector's gain of 4.4% and the S&P 500's gain of 1.7% in that time.The upcoming earnings release of Gile ...

Company Overview - Gilead Sciences (GILD) is anticipated to report a year-over-year decline in earnings due to lower revenues for the quarter ended December 2024, with earnings expected to be $1.65 per share, reflecting a -4.1% change, and revenues projected at $7.06 billion, down 0.8% from the previous year [1][3]. Earnings Expectations - The earnings report is scheduled for release on February 11, 2025, and could influence the stock price positively if results exceed expectations, while a miss could lead to a decline [2]. - The consensus EPS estimate has been revised 9.53% higher in the last 30 days, indicating a more favorable outlook from analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP (Expected Surprise Prediction) model suggests that Gilead has a positive Earnings ESP of +2.30%, indicating a likelihood of beating the consensus EPS estimate [10][11]. - Gilead currently holds a Zacks Rank of 3 (Hold), which, when combined with the positive Earnings ESP, suggests a higher probability of an earnings beat [11]. Historical Performance - In the last reported quarter, Gilead exceeded the expected earnings of $1.58 per share by delivering $2.02, resulting in a surprise of +27.85% [12]. - Over the past four quarters, Gilead has surpassed consensus EPS estimates three times [13]. Industry Context - In the Zacks Medical - Biomedical and Genetics industry, Vertex Pharmaceuticals (VRTX) is also expected to report earnings of $3.99 per share for the same quarter, reflecting a -5% year-over-year change, with revenues expected to be $2.77 billion, up 10% from the previous year [17]. - Vertex has an Earnings ESP of 0.77% and a Zacks Rank of 3, suggesting a likelihood of beating the consensus EPS estimate as well [18].

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Core Insights - Gilead Sciences (GILD) has a strong history of beating earnings estimates and is well-positioned for continued success in upcoming reports [1][2] Earnings Performance - Gilead has consistently exceeded earnings expectations, with an average surprise of 26.35% over the last two quarters [2] - In the most recent quarter, Gilead reported earnings of $2.02 per share, surpassing the expected $1.58 by 27.85% [2] - For the previous quarter, the company reported $2.01 per share against an estimate of $1.61, resulting in a surprise of 24.84% [2] Earnings Estimates - Recent estimates for Gilead have been revised upward, indicating positive sentiment among analysts [3] - The Zacks Earnings ESP for Gilead is currently +2.30%, suggesting bullish expectations for the company's earnings [6] Predictive Metrics - Stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have a nearly 70% chance of producing a positive surprise [4] - Gilead's Zacks Rank is 2 (Buy), further supporting the likelihood of another earnings beat [6] Upcoming Earnings Report - Gilead's next earnings report is anticipated to be released on February 11, 2025 [6]

Core Insights - Wall Street analysts' recommendations significantly influence investors' decisions regarding stock purchases, sales, or holds, particularly for Gilead Sciences (GILD) [1] - Gilead has an average brokerage recommendation (ABR) of 1.87, indicating a consensus between Strong Buy and Buy, with 56.7% of the 30 recommendations being Strong Buy [2] Brokerage Recommendations - The ABR suggests a buying opportunity for Gilead, but relying solely on this metric may not be advisable due to studies indicating brokerage recommendations often fail to guide investors effectively [4] - Brokerage firms tend to exhibit a positive bias in their ratings, with a ratio of five Strong Buy recommendations for every Strong Sell, which may mislead investors [5][9] Zacks Rank Comparison - Zacks Rank, a proprietary stock rating tool, categorizes stocks from Strong Buy to Strong Sell and is based on earnings estimate revisions, showing a strong correlation with near-term stock price movements [7][10] - The Zacks Rank is distinct from ABR, as it is a quantitative model that reflects timely earnings estimates, while ABR may not always be up-to-date [8][11] Current Earnings Estimates - Gilead's Zacks Consensus Estimate for the current year has increased by 0.2% to $4.36, indicating growing analyst optimism about the company's earnings prospects [12] - The recent change in consensus estimates has led to a Zacks Rank 2 (Buy) for Gilead, suggesting that the ABR may serve as a useful guide for investors [13]

Core Viewpoint - The article compares Gilead Sciences (GILD) and Alnylam Pharmaceuticals (ALNY) to determine which stock is more attractive to value investors [1] Valuation Metrics - GILD has a forward P/E ratio of 12.35, while ALNY has a significantly higher forward P/E of 659.03 [5] - GILD's PEG ratio is 1.31, indicating a more favorable valuation relative to its expected earnings growth, compared to ALNY's PEG ratio of 20.24 [5] - GILD's P/B ratio stands at 6.30, contrasting sharply with ALNY's P/B of 1,062.58, suggesting GILD is more aligned with its book value [6] Investment Outlook - Both GILD and ALNY currently hold a Zacks Rank of 2 (Buy), indicating positive earnings estimate revisions for both companies [3] - GILD is rated with a Value grade of A, while ALNY has a Value grade of D, suggesting GILD is the superior value option based on current metrics [6]