Biotech & PharmaEarnings — Latest Quarter & What's Coming

AbbVie delivered strong Q1 FY2026 revenue growth of 12.4% to $15.0B, but net income fell 46.0% to $695M, driven by elevated costs and below-the-line charges, even as operating cash flow surged 134.2% to $3.83B.

Gilead Sciences delivered a strong Q1 FY2026 with revenue up 4.4% to $6.96B, net income surging 53.7% to $2.02B, and operating cash flow jumping 44.8% to $2.54B, driven by lower cost of revenue and improved operating leverage.

Vertex Pharmaceuticals delivered a strong Q1 FY2026 with revenue of $2.99B (+7.8% YoY), operating income surging 80.6% to $1.14B, and net income jumping 59.6% to $1.03B, reflecting significant margin expansion and robust cash generation.

Pfizer reported Q1 2026 revenue of $14.45B (+5.4% YoY), but net income declined 9.4% to $2.69B as cost of revenue surged 24.7%, compressing margins despite improved operating cash flow of $2.62B.

MRK reported Q1 FY2026 revenue of $16.3B (+4.9% YoY), but swung to a net loss of -$4.24B driven by a massive $12.6B R&D expense surge (+247.7% YoY), likely reflecting a large in-process R&D charge from an acquisition, while operating cash flow improved significantly to $3.9B.

Amgen delivered a strong Q1 2026 with revenue up 5.8% YoY to $8.62B, while operating income more than doubled (+126.3%) to $2.67B driven by lower cost of revenue and reduced SG&A, though net income grew more modestly at 5.1% to $1.82B.

Thermo Fisher Scientific delivered solid Q1 FY2026 results with revenue of $11.0B (+6.2% YoY), net income of $1.65B (+9.6% YoY), and a significant jump in operating cash flow (+64.9% YoY), though long-term debt surged 26.4% reflecting major acquisition activity.

Bristol-Myers Squibb delivered Q1 2026 revenue of $11.49B (+2.6% YoY) and net income of $2.68B (+9.0% YoY), though operating cash flow fell sharply by 43.5% to $1.10B amid a 17.4% surge in R&D spending and elevated long-term debt of $44.1B.

Eli Lilly delivered an exceptional Q1 2026, with revenue surging 55.5% YoY to $19.8B and net income soaring 168.1% to $7.4B, driven by continued explosive demand for its GLP-1 and diabetes/obesity portfolio.

Regeneron delivered strong Q1 2026 revenue growth of 19.0% YoY to $3.61B, driven by robust product demand, but net income declined 10.1% to $727.2M as R&D spending surged 16.3% and current liabilities jumped 43.2%.

ABT delivered 7.8% revenue growth to $11.16B in Q1 FY2026, but net income fell 18.7% to $1.08B as a 22.2% surge in SG&A expenses and a 132.7% jump in long-term debt—likely tied to a major acquisition—weighed heavily on profitability and the balance sheet.

Intuitive Surgical delivered a strong Q1 FY2026 with revenue of $2.77B (+23.0% YoY), operating income surging 48.0% to $855.3M, and operating cash flow jumping 56.8% to $911.9M, reflecting robust procedure volume growth and expanding margins.