Moderna Beats Q2 Top and Bottom Line Estimates; Updates FY23 Outlook-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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Moderna Beats Q2 Top and Bottom Line Estimates; Updates FY23 Outlook

seekingalpha2023-08-03

Moderna (NASDAQ:MRNA): Q2 GAAP EPS of -$3.62 beats by $0.48. Revenue of $344M (-92.8% Y/Y) beats by $38.44M.

Moderna shares jumped 7.5% in premarket trading.

"We are on track to deliver 2023 sales between $6 billion to $8 billion vs. consensus of $7.13B, depending on Covid vaccination rates in the U.S.," said Stéphane Bancel, Chief Executive Officer of Moderna.

Outlook: Product Sales: The Company is expecting 2023 COVID-19 sales of $6 billion to $8 billion, dependent on U.S. vaccination rates. Total expected 2023 sales are comprised of approximately $4 billion from existing APAs and $2 billion to $4 billion from additional sales to the U.S., Japan, EU and other countries. Sales will be subject to the timing of regulatory approvals, with the Company currently expecting a 2023 second half sales split of approximately 30% in the third quarter and 70% in the fourth quarter.

Cost of Sales: The Company now expects cost of sales to be approximately $3.5 billion to $4 billion for the year.

Research and Development and Selling, General and Administrative Expenses: The Company continues to expect full-year 2023 expenses of approximately $6.0 billion, with approximately $4.5 billion in R&D.

Income Taxes: The Company now anticipates a full-year tax benefit of approximately $0.7 billion to $1.0 billion, driven by an assumed operating loss, R&D credits, international tax provisions and non-recurring items.

Capital Expenditures: The Company continues to expect capital expenditures for 2023 of approximately $1 billion.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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