BioMarin Pharmaceutical (BMRN) Tops Q3 Earnings and Revenue Estimates

Group 1: Earnings Performance - BioMarin Pharmaceutical reported quarterly earnings of $0.91 per share, exceeding the Zacks Consensus Estimate of $0.78 per share, and up from $0.46 per share a year ago, representing an earnings surprise of 16.67% [1] - The company posted revenues of $745.74 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 5.49%, compared to year-ago revenues of $581.33 million [2] - Over the last four quarters, BioMarin has surpassed consensus EPS estimates four times and topped consensus revenue estimates three times [2] Group 2: Stock Performance and Outlook - BioMarin shares have declined approximately 27.3% since the beginning of the year, contrasting with the S&P 500's gain of 22.1% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is $0.81 on revenues of $736.34 million, and for the current fiscal year, it is $3.24 on $2.8 billion in revenues [7] Group 3: Industry Context - The Medical - Biomedical and Genetics industry, to which BioMarin belongs, is currently in the top 30% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5] - The current estimate revisions trend for BioMarin is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [6]