Vertex Pharmaceuticals Inc. (VRTX)
NASDAQ:VRTX
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Earnings Data
Report Date
Jul 30, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
4.71Last Year’s EPS
4.52Same Quarter Last Year
Strong Buy
Based on 24 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
Overall the call conveyed a positive, execution-focused tone: strong top-line results (8% revenue growth to $2.99B), major commercial milestones (AlifTrack >$1B cumulative revenue, >1M Gernavix prescriptions, >500 KASJEVY patients initiated), and a standout Phase III interim win for povitacicept in IgAN with rapid BLA submission. At the same time, the company disclosed a program discontinuation (VX-522) due to tolerability, increased SG&A (30% YoY) tied to commercialization investments, and several important longer-term readouts (eGFR for renal programs, enaxaplin and AMPLITUDE results) remain pending. The positives — strong revenue and multiple high-impact pipeline/regulatory achievements — outweigh the challenges and near-term variability risks.Company Guidance
Strong Q1 Revenue Growth
Total product revenue of $2.99 billion in Q1 2026, up 8% year-over-year; non-GAAP operating income of $1.31 billion (vs. $1.18 billion prior year); non-GAAP net income of $1.1 billion and EPS of $4.47 (up from $4.06).
AlifTrack Commercial Momentum
AlifTrack surpassed $1 billion in cumulative global revenue since U.S. approval (Dec 2024) and EU (Jul 2025); contributed to CF revenue growth of 6% year-over-year and global product growth; label expansions broaden eligibility to ~95% of people with CF and add ~800 newly eligible U.S. patients.
Povitacicept (Povi) Phase III Interim Win in IgAN
RAINIER interim analysis showed 52% reduction from baseline in proteinuria (49.8% vs placebo); 77.4% reduction in serum GdIgA1 (79.3% vs placebo); 85.1% hematuria resolution in treated patients (61.7% vs placebo); 42.2% achieved 24-hour UPCR <0.5 g/g. Safety profile favorable (SAE infection rate 0.5% in both arms), ADAs observed with no impact. BLA submitted 27 days after database lock — fastest submission in company history.
New Disease Areas Driving Growth
Products from new disease areas (KASJEVY and GERNAVICS) accounted for approximately 25% of total product revenue growth in Q1 2026; KASJEVY generated $43 million and GERNAVICS $29 million in Q1 sales.
KASJEVY Launch Progress
Over 500 patients have initiated their KASJEVY treatment journey; hundreds have had first cell collection and many are ready for infusion; established reimbursement progress including a pricing agreement in Germany; company expects KASJEVY to contribute meaningfully toward >$500M non-CF revenue goal for 2026 and to have multibillion-dollar potential long term.
GERNAVICS Uptake and Access Expansion
Over 1 million Gernavix prescriptions written since launch; >350,000 prescriptions filled in the quarter; Q1 revenue $29 million; payer coverage expanded to 240 million lives including first of the big four Medicare Part D plans effective May 1; field force doubled to 300 reps to drive adoption and expected to more than triple prescriptions in 2026.
CF R&D and Label Expansion Milestones
Label expansions for AlifTrack and TRIKAFTA now cover patients with at least one CFTR-responsive variant (in vitro or clinical) increasing eligibility to ~95% of people with CF; submissions planned for AlifTrack in ages 2–5 (pivotal trial showed 65% of children reached normal CFTR function) and TRIKAFTA in ages 1–2; next-gen 3.0 CFTR VX-828 patient study on track with results expected H2 2026; VX-581 and VX-2272 in Phase I.
Balance Sheet and Capital Allocation
Ended quarter with $13 billion in cash and investments; deployed ~$344 million to repurchase >741,000 shares in Q1, reflecting continued shareholder returns while prioritizing investment in innovation.
Pipeline Advancement Beyond Renal
Phase II proof-of-concept study of Povi in generalized myasthenia gravis underway; enrollment completed in Phase II portion of Povi primary membranous nephropathy study and Phase III portion initiated ahead of prior guidance; enaxaplin AMPLIFIED enrollment completed with readout expected H2 2026; zamylosel dosing resumed in Type 1 diabetes study after manufacturing pause with prior landmark results (10 of 12 insulin-free among full-dose patients with ≥1 year follow-up).
Reiterated 2026 Guidance and Margins
Reiterated full-year 2026 revenue guidance of $12.95B–$13.10B (8%–9% growth); expect >$500M revenue from non-CF products in 2026; full-year gross margin expected just under 86%; combined non-GAAP operating expense guidance $5.65B–$5.75B; non-GAAP tax rate guidance 19.5%–20.5%.
VRTX Earnings History
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
VRTX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 04, 2026 | $429.85 | $424.36 | -1.28% |
Feb 12, 2026 | $465.02 | $491.47 | +5.69% |
Nov 03, 2025 | $425.57 | $426.00 | +0.10% |
Aug 06, 2025 | $385.65 | $375.63 | -2.60% |
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.
FAQ
When does Vertex Pharmaceuticals Inc. (VRTX) report earnings?
Vertex Pharmaceuticals Inc. (VRTX) is schdueled to report earning on Jul 30, 2026, After Close (Confirmed).
What is Vertex Pharmaceuticals Inc. (VRTX) earnings time?
Vertex Pharmaceuticals Inc. (VRTX) earnings time is at Jul 30, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is VRTX EPS forecast?
VRTX EPS forecast for the fiscal quarter 2026 (Q2) is 4.71.