AstraZeneca's COVID-19 Vaccine Turns Profitable In Q3; Reaffirms FY21 Guidance

AstraZeneca Plc's AZN COVID-19 vaccine made a small contribution to earnings in Q3. It expects the shot to move to "modest profitability" on new orders.
In Q3, the Company posted $1.05 billion in COVID-19 vaccine sales.
Its rivals, Pfizer Inc PFE, generated $13 billion in sales from its vaccine. Moderna Inc MRNA reported revenue of $5 billion, the vast majority from its COVID-19 vaccine.
Total revenue jumped 50% Y/Y to $9.87 billion, in line with the consensus.
Excluding the vaccine, sales rose 32%, driven by oncology drugs, growth in emerging markets, and Alexion Pharmaceuticals' addition.
Core earnings came in at $1.08 per share, with the vaccine, Vaxzevria, contributing one cent to the profit. Analysts, on average, were expecting $0.62.
Guidance: AstraZeneca reaffirmed its FY21 adjusted EPS guidance at $5.05 - $5.40.
Total revenue is expected to grow by the mid-to-high twenties and low twenties, excluding the COVID-19 vaccine.
The limited profit contribution from the vaccine in Q4 2021 is expected to offset costs relating to its COVID-19 antibody combination (AZD7442).
Price Action: AZN shares are down 4.10% at $60.34 during the premarket session on the last check Friday.

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