BioMarin Pharmaceutical Reports Strong Q4 Earnings
SAN RAFAEL, Calif. (AP) - BioMarin Pharmaceutical Inc. (BMRN) announced financial results for the fourth quarter on Wednesday.
Financial Highlights:
* Net income: $124.9 million (64 cents per share)
* Adjusted earnings per share: 92 cents
* Revenue: $747.3 million
Analyst Expectations:
BioMarin's results exceeded analyst estimates. Zacks Investment Research analysts had projected earnings of 73 cents per share and revenue of $711.9 million.
Annual Results:
For the full year, the company reported a profit of $426.9 million ($2.21 per share) on revenue of $2.85 billion.
Outlook:
BioMarin anticipates full-year 2023 earnings in the range of $4.20 to $4.40 per share, with revenue between $3.1 billion and $3.2 billion.
Stock Performance:
BioMarin shares have declined slightly since the beginning of the year, closing at $65.61 on Wednesday, marking a 26% decrease over the past 12 months.