Recap: Ligand Pharmaceuticals Q1 Earnings

Ligand Pharmaceuticals LGND reported its Q1 earnings results on Thursday, May 4, 2023 at 04:01 PM.

Here's what investors need to know about the announcement.

Ligand Pharmaceuticals beat estimated earnings by 156.18%, reporting an EPS of $2.28 versus an estimate of $0.89.

Revenue was down $1.71 million from the same period last year.

Last quarter the company beat on EPS by $0.17 which was followed by a 4.12% increase in the share price the next day.

Here's a look at Ligand Pharmaceuticals's past performance:

Quarter	Q4 2022	Q3 2022	Q2 2022	Q1 2022
EPS Estimate	1.19	0.43	0.43	0.66
EPS Actual	1.36	1.31	1.03	0.76
Revenue Estimate	46.64M	38.28M	37.73M	34.21M
Revenue Actual	50.38M	66.09M	57.42M	45.69M

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Ligand Pharmaceuticals management provided guidance for FY 2023, expecting earnings between $4.6 and $4.75 per share.

To track all earnings releases for Ligand Pharmaceuticals visit their earnings calendar here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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