Gilead Beats Q4 Estimates But Lowers FY26 Guidance, Shares Drop Nearly 3%
Gilead posted Q4 EPS $1.86 beating analyst estimate by $0.05 and revenue of $7.93B topping estimates by $0.24B, driven by 17% lift in liver disease sales to $844M and 6% HIV sales growth to $5.8B. It forecasts FY26 adjusted EPS $8.45-$8.85 and revenue $29.6-$30B below analysts, dragging shares ~3% lower.
1. Q4 Earnings and Revenue Performance
Gilead posted Q4 adjusted EPS of $1.86, beating the consensus by $0.05, and reported revenue of $7.93 billion, surpassing estimates by $240 million. The outperformance reflected strong demand across key therapeutic areas and exceeded analyst projections for the quarter.
2. Segment Sales Drivers
Liver disease portfolio sales rose 17% to $844 million, driven by higher uptake of Livdelzi, while HIV product sales climbed 6% to $5.8 billion, supported by Yeztugo, Biktarvy and Descovy’s continued momentum. Cell therapy sales declined 6% to $458 million due to competitive headwinds.
3. FY26 Guidance and Market Reaction
Management forecast FY26 adjusted EPS of $8.45 to $8.85 and revenue between $29.6 billion and $30 billion, below consensus estimates, signaling a cautious outlook. The guidance shortfall prompted a nearly 3% drop in shares during extended trading.