Regeneron Updates Outlook

2023 Guidance Prior Updated GAAP R&D $4.200–$4.435 billion $4.225–$4.465 billion Non-GAAP R&D(a) $3.725–$3.925 billion Unchanged GAAP
2023 Guidance
Prior Updated
GAAP R&D $4.200–$4.435 billion $4.225–$4.465 billion
Non-GAAP R&D(a) $3.725–$3.925 billion Unchanged
GAAP SG&A $2.460–$2.650 billion $2.490–$2.680 billion
Non-GAAP SG&A(a) $2.130–$2.280 billion Unchanged
GAAP gross margin on net product sales(d) 88%–90% 87%–89%
Non-GAAP gross margin on net product sales(a)(d) 90%–92% 89%–91%
COCM(e)* $720–$800 million $820–$880 million
Capital expenditures* $825–$950 million $800–$900 million
GAAP effective tax rate 10%–12% 8%–10%
Non-GAAP effective tax rate(a) 11%–13% 10%–12%
* GAAP and non-GAAP amounts are equivalent as no non-GAAP adjustments have been or are expected to be recorded.

A reconciliation of full year 2023 GAAP to non-GAAP financial guidance is included below:

Projected Range
($ in millions) Low High
GAAP R&D $ 4,225 $ 4,465
Stock-based compensation expense 490 520
Acquisition-related integration costs 10 20
Non-GAAP R&D $ 3,725 $ 3,925
GAAP SG&A $ 2,490 $ 2,680
Stock-based compensation expense 310 330
Acquisition-related integration costs 50 70
Non-GAAP SG&A $ 2,130 $ 2,280
GAAP gross margin on net product sales 87 % 89 %
Stock-based compensation expense 1 % 1 %
Intangible asset amortization expense 1 % 1 %
Non-GAAP gross margin on net product sales 89 % 91 %
GAAP ETR 8 % 10 %
Income tax effect of GAAP to non-GAAP reconciling items 2 % 2 %
Non-GAAP ETR 10 % 12 %
Total
0
Shares
Related Posts
Read More

U.S. Department Of Energy Extends Fluor-led Savannah River Site Management And Operating Contract Through September 2027; Total Reimbursable Contract Value Is $12B For 5 Years, And Fluor Will Book Its 4-Year, $4.5B Portion In Q3

Fluor Corporation (NYSE:FLR) announced today that the U.S. Department of Energy (DOE) has extended the Fluor-led Savannah River Nuclear Solutions, LLC (SRNS) management and operating contract at the Savannah River

FLR

Read More

Elon Musk’s Pay Package And Corporate HQ Move Gain Strong Backing From Shareholders: Passing By ‘Wide Margins,’ Says Tesla CEO

Musk shared the news on X on Wednesday, along with screenshots of the shareholder vote graph. The resolutions are part of the highly anticipated 2024 Tesla Inc shareholders meeting, which is scheduled for Thursday, Jun. 13. The meeting will include a crucial vote on a new compensation plan for Musk.

TSLA