Regeneron (REGN) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Jul 30, 2026

Before Open (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

10.88

Last Year’s EPS

12.89

Same Quarter Last Year

Analyst Consensus

Strong Buy

Based on 21 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:Apr 29, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The earnings call conveyed a predominantly positive operational and financial picture: strong double-digit revenue and EPS growth, robust performance of core growth drivers (DUPIXENT, EYLEA HD, Libtayo), meaningful pipeline and regulatory milestones (including a gene therapy approval and encouraging Phase III data), a healthy balance sheet and active capital return via buybacks. The principal negatives were product-specific pressures (notably a steep decline in legacy EYLEA sales due to conversion, competition and inventory effects), a temporary manufacturing interruption that reduced GAAP margins and a missed FDA action on an EYLEA HD fill-finish application that creates near-term regulatory timing uncertainty. Overall, the call emphasized execution, pipeline progress and financial strength, with manageable near-term operational and regulatory headwinds.

Company Guidance

Regeneron made only modest changes to its 2026 outlook, most notably updating GAAP gross‑margin guidance to 77–78% (Q1 GAAP gross margin was 76% and Q1 non‑GAAP gross margin on net product sales was 86%) while warning of a Q2 drag from a temporary Limerick manufacturing interruption as full production resumes by end‑Q2; management also said the Sanofi development balance should be fully repaid by end‑Q2, with Regeneron receiving its full share of collaboration profits starting in Q3. In Q1 the company reported total revenues up 19% to $3.6 billion, non‑GAAP diluted EPS up 15% to $9.47 (net income $1.0 billion), $848 million of free cash flow, cash and marketable securities less debt of $15.8 billion, $800 million of share repurchases in the quarter and a new $3.0 billion buyback authorization (about $3.4 billion available), R&D spend of $1.4 billion and SG&A of $560 million. Management also gave timing guidance for key regulatory and commercial milestones: they expect an FDA decision on one or both EYLEA HD prefilled‑syringe filings this quarter, see cemdisiran’s FDA decision in Q4, have a garetosmab PDUFA date in August, expect cemdisiran PNH registrational results late Q4, and reiterated commercial expectations including EYLEA HD U.S. net sales of $468 million (52% YoY) with ~10% sequential unit demand growth in Q1 and similar growth expected in Q2, combined EYLEA/EYLEA HD U.S. net sales of $942 million, a roughly $20 million negative Q2 impact to EYLEA net sales from inventory absorption, DUPIXENT net sales of $4.9 billion (31% CC growth), and Libtayo global net sales of $438 million (54% YoY).

Strong Top- and Bottom-Line Growth

Total revenues rose 19% year-over-year to $3.6 billion in Q1 2026; non-GAAP diluted net income per share increased 15% to $9.47 and net income was $1.0 billion, demonstrating double-digit growth across revenues and earnings.

DUPIXENT Continued Momentum

Global DUPIXENT net sales grew 31% (constant currency) to $4.9 billion in the quarter and the franchise reported annualized global net sales near $20 billion, with broad-based demand across indications and geographies.

EYLEA HD Rapid U.S. Adoption

EYLEA HD U.S. net product sales increased 52% year-over-year to $468 million; combined U.S. EYLEA/EYLEA HD net sales were $942 million and physician demand for EYLEA HD rose sequentially ~10% in Q1.

Libtayo Growth

Global Libtayo product sales grew 54% year-over-year to $438 million, driven by uptake in advanced cutaneous squamous cell carcinoma (CSCC) and advanced non-small cell lung cancer as well as early contributions from adjuvant CSCC.

Pipeline and Regulatory Progress

FDA approval of Otarmeni (gene therapy for genetic hearing loss) with the company committing to make it available for free; positive Phase III data for cemdisiran in generalized myasthenia gravis with an expected FDA decision in Q4; garetosmab BLA accepted with priority review (PDUFA August 2026); olatorepatide Phase II China data showed up to 19% mean body weight loss at week 48.

Sanofi Collaboration and Other Revenue Strength

First-quarter Sanofi collaboration revenues were $1.6 billion, with Regeneron’s share of collaboration profits up 42% versus prior year; other revenue grew 109% to $171 million (including $101 million from ARCALYST share and Ilaris royalties). Sanofi development balance expected to be fully repaid by end of Q2, with Regeneron to recognize full share of profits starting in Q3.

Balance Sheet and Capital Allocation

Generated $848 million of free cash flow in Q1; cash and marketable securities less debt of $15.8 billion at quarter end; repurchased $800 million of stock in Q1 and Board authorized a new $3.0 billion share repurchase program (approximately $3.4 billion available).

High Non-GAAP Gross Margins

Non-GAAP gross margin on net product sales was strong at 86% in Q1, reflecting favorable product mix and high-margin portfolio performance.

Regeneron (REGN) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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REGN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 30, 2026	2026 (Q2)	10.88 / -	12.89	―	―	―
Apr 29, 2026	2026 (Q1)	8.91 / 9.47	8.22	15.21% (+1.25)
Jan 30, 2026	2025 (Q4)	10.74 / 11.44	12.07	-5.22% (-0.63)
Oct 28, 2025	2025 (Q3)	9.65 / 11.83	12.46	-5.06% (-0.63)
Aug 07, 2025	2025 (Q2)	8.43 / 12.89	11.56	11.51% (+1.33)
Apr 29, 2025	2025 (Q1)	8.62 / 8.22	9.55	-13.93% (-1.33)
Feb 04, 2025	2024 (Q4)	11.28 / 12.07	11.86	1.77% (+0.21)
Oct 31, 2024	2024 (Q3)	11.70 / 12.46	11.59	7.51% (+0.87)
Aug 01, 2024	2024 (Q2)	10.62 / 11.56	10.24	12.89% (+1.32)
May 02, 2024	2024 (Q1)	10.17 / 9.55	10.09	-5.35% (-0.54)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

REGN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Apr 29, 2026	$731.77	$686.36	-6.21%
Jan 30, 2026	$748.54	$740.56	-1.07%
Oct 28, 2025	$583.87	$652.88	+11.82%
Aug 07, 2025	$552.93	$557.58	+0.84%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.