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- Moderna Inc MRNA reports Q2 EPS of $6.46, a turnaround from EPS loss of $(0.31) a year ago, beating the consensus estimate of $6.04.
- The company clocked Q2 revenues of $4.4 billion compared to a mere $67 million a year ago, slightly ahead of the consensus of $4.28 billion.
- The sales growth was primarily attributable to commercial sales of its COVID-19 vaccine of $4.2 billion from the sale of 199 million doses, much lower than 200-250 million doses expected earlier.
- Operating income came in at $3.1 billion compared to a loss of $122 million.
- Moderna held cash and equivalents of $12.2 billion at Q2.
- Outlook: For FY21, Moderna has already signed Advance Purchase Agreements for scheduled delivery for a total of $20 billion in anticipated product sales, including sales already recorded in this June quarter.
- The cost of sales is expected to be 18% - 20% of product sales for FY21.
- Moderna expects dose capacity for its COVID-19 vaccine in FY21 of 800 million - 1 billion doses and 2 billion - 3 billion in FY22.
- For FY22, Moderna has already signed purchase agreements of approximately $12 billion and options of roughly $8 billion.
- Price Action: MRNA shares are down 5.31% at $396.80 during the premarket session on the last check Thursday.
- Image by Spencer Davis from Pixabay
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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