Moderna Sold Less Than Expected mRNA COVID-19 Vaccine Jabs In Q2; Sees $20B In FY21 Product Sales

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

Earnings Calendar