Slowing remdesivir sales, plans on oncology in focus for Gilead Q1 earnings
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Gilead Sciences (GILD) is scheduled to announce Q1 earnings results on Thursday, April 28th, after market close.
The consensus EPS Estimate is $1.81 (-13.0% Y/Y) and the consensus Revenue Estimate is $6.28B (-2.2% Y/Y).
Over the last 2 years, GILD has beaten EPS estimates 75% of the time and has beaten revenue estimates 75% of the time.
Over the last 3 months, EPS estimates have seen 8 upward revisions and 4 downward. Revenue estimates have seen 11 upward revisions and 0 downward.

Gilead shares had fallen in early February despite beating estimates on Q4 2021 non-GAAP EPS and revenue. Though revenue had beaten expectations, it had fallen 2% Y/Y due to a decline in sales of the company's COVID-19 therapy Veklury (remdesivir).
Baird Equity Research in a note dated April 26 said it expects sales for all of GILD's major franchises to meet all expectations. Baird believes the most significant potential mover for the stock will be any color on the company's oncology programs. It expects GILD to report Q1 revenue of $6.32B and non-GAAP EPS of $1.77.
On Veklury:

GILD had guided total 2022 sales for Veklury of only about $2B due to expectations for a decrease in COVID-19 hospitalizations.
COVID-19 cases, deaths and hospitalizations globally have fallen significantly from levels in January when the Omicron variant was rampant.
In the U.S., the current seven-day hospitalization average of 1,779 is down nearly 92% from the peak seven-day average in January.

Earlier this week, GILD reported data from two studies which confirmed the benefit of Veklury for hospitalized patients that it reduced the risk of hospitalization in patients at high risk for severe COVID-19 disease.
On April 25, GILD said the FDA approved an expanded use for Veklury in children aged 12 years and under.

Investors will also be looking out for the performance of Gilead's other medicines such as HIV drug Biktarvy and oncology therapies Trodelvy and Yescarta.
Also read a recent bullish analysis by a SA contributor on GILD that calls it the most undervalued pharmaceutical company.