- Moderna Inc (NASDAQ:MRNA) reports a Q1 EPS of $8.58, compared to the $2.84 posted a year ago, handsomely beating the consensus estimate of $5.21.
- Total revenue was $6.1 billion compared to $1.9 billion in Q1 FY21, primarily due to increased product sales. The revenue consensus was $4.43 billion.
- Product sales were $5.9 billion from the Company's COVID vaccine sales, compared to $1.7 billion a year ago.
- Operating income more than doubled to $4.23 billion from $1.27 billion a year ago.
- Moderna expects to have four programs in Phase 3 in Q2, including omicron-containing bivalent COVID booster, flu, RSV, and CMV.
- The company held cash, cash equivalents, and investments as of March 31 of $19.3 billion.
- Outlook: Moderna has signed 2022 Advanced Purchase Agreements for approximately $21 billion in product sales ($19 billion earlier).
- The company believes that COVID market dynamics will result in sales slightly larger in 2H of 2022 than in 1H.
- Price Action: MRNA shares are up 7.27% at $157.20 during the premarket session on the last check Wednesday.
- Photo by mufidpwt via Pixabay
