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Vertex Pharmaceuticals (VRTX)
NASDAQ:VRTX
Earnings Data
Report Date
May 06, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
4.42Last Year’s EPS
4.06Same Quarter Last Year
Strong Buy
Based on 25 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a broadly positive picture: strong top-line growth (Q4 +10%, FY +9%), strong margins and profitability (Q4 net income +24%, EPS +26%), a solid cash position, active capital returns, and multiple important commercial launches (CF next-gen, KASJEVY, Genavix) plus rapid advancement of a diversified pipeline (notably an emerging renal franchise with regulatory progress for povitacept). Near-term headwinds include a $200M Russia decline, gross-to-net effects from patient support programs impacting Genavix revenue, timing variability for cell therapy infusions, and increased operating investments and a higher expected tax rate in 2026. Key clinical/regulatory readouts (RAINIER, AMPLITUDE, other pivotal data) represent binary events that could materially affect future prospects. Overall, the positives (diversified growth, strong financials, multiple product and regulatory milestones) outweigh the near-term operational and timing challenges.Company Guidance
Strong Revenue Growth
Q4 2025 total revenue of $3.2B, up 10% year-over-year; full year 2025 revenue of $12.0B, up 9% versus 2024.
Robust Profitability and Margins
Q4 2025 non-GAAP net income of $1.3B, up 24% YoY, delivering $5.30 EPS (up 26% YoY). Q4 gross margin of 85.7% and full year non-GAAP net income of $4.7B ($18.40 EPS).
Strong Balance Sheet and Capital Return
Ended 2025 with $12.3B in cash, equivalents, and marketable securities; repurchased ~4.8M shares for ~$2.0B during 2025.
Cystic Fibrosis Franchise Growth and New Therapy Data (AlifTrek/ElefTrek)
CF remains a foundation with ~77,000 patients on therapy and 7% full-year CF revenue growth. ElefTrek (AlifTrek) Phase 3 in 2–5 year-olds showed a mean sweat chloride reduction of 9.6 mmol from TRIKAFTA baseline and 65% of patients achieved sweat chloride <30 mmol (versus 37.5% at baseline). On track for global submissions in 2–5 year-olds in H1 2026 and ongoing enrollment in 1–2 year-old study.
CF Next-Generation Pipeline Progress
NextGen 3.0 correctors advancing: VX-828 proof-of-concept on track to complete enrollment/dosing in 2026; VX-581 in Phase 1; VX-1522 (for patients without CFTR protein) Phase 1/2 readout expected H2 2026.
Emerging Renal Franchise Advancement (Povatacept / Povi)
Povatacept (dual BAFF/APRIL inhibitor) has delivered substantial proteinuria reductions and GFR stabilization through Phase 2; granted FDA Breakthrough Therapy designation, rolling review, and Priority Review Voucher use; rolling BLA submission initiated Dec 2025 and on track to complete BLA submission in H1 2026 if Phase 3 interim is supportive.
Additional Renal Program Milestones
OLYMPUS Phase 2/3 in membranous nephropathy on track to complete Phase 2 and advance to Phase 3 this summer; AMPLITUDE (enaxaplin for APOL1-mediated kidney disease) interim cohort enrolled with full-trial enrollment expected H2 2026 and interim results late 2026/early 2027; VX-407 ADPKD Phase 2 POC enrollment expected to complete in 2026.
KASJEVY Launch Momentum (Cell & Gene Therapy)
KASJEVY revenue of $54M in Q4 and $116M for full year 2025; Q4 included 111 new patient initiations, 37 first cell collections, and 30 infusions. ~90% access for Medicaid and commercial patients in the U.S.; meaningful reimbursement wins in Europe (including Italy covering ~1,500–5,000 patients depending on wording in transcript).
Genavix (Acute Pain) Successful Initial Launch
Genavix achieved >550,000 prescriptions in 2025 (~50/50 hospital vs retail), more than 35,000 prescribers, >200M lives covered by PBMs, 21 states with unrestricted Medicaid access, incorporation into >950 hospitals and >100 IDNs; company estimates ~420,000 Americans benefited as a non-opioid option in 2025.
2026 Guidance and Diversification
2026 revenue guidance $12.95B–$13.10B (8%–9% growth) with an expected contribution of $500M+ from non-CF products; combined non-GAAP operating expense guidance $5.65B–$5.75B and 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 |
|---|---|---|---|
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% |
May 05, 2025 | $500.19 | $450.03 | -10.03% |
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 (VRTX) report earnings?
Vertex Pharmaceuticals (VRTX) is schdueled to report earning on May 06, 2026, After Close (Confirmed).
What is Vertex Pharmaceuticals (VRTX) earnings time?
Vertex Pharmaceuticals (VRTX) earnings time is at May 06, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is VRTX EPS forecast?
VRTX EPS forecast for the fiscal quarter 2026 (Q1) is 4.42.