Moderna's Mixed Q4 Earnings: Revenue Beat, EPS Miss

Moderna (MRNA)

- Fourth-quarter revenue of $966 million, surpassing estimates of $954 million.
- Full-year revenue of $3.2 billion, meeting expectations.
- Earnings per share (EPS) of -$2.91 in Q4, wider than the expected loss of -$2.75.
- Full-year EPS of -$9.28, against an estimated loss of -$9.17.

Key Points

- Revenue primarily driven by sales of COVID-19 vaccine Spikevax ($3.1 billion for the year).
- Respiratory Syncytial Virus (RSV) vaccine generated $15 million in revenue.
- Loss attributed to lower sales and a one-time charge of $238 million.
- CEO Stéphane Bancel highlights cost-cutting efforts (27% reduction in 2024 compared to 2023).
- Aim to reduce costs by nearly $1 billion by end of 2025.

Concerns and Analyst Outlook

- Waning demand for COVID-19 vaccines poses challenges for Moderna.
- Investors focused on clinical pipeline advancements.
- Confirmation of Robert F. Kennedy Jr. at HHS raises questions about potential implications for vaccine companies.
- Analysts anticipate Bancel addressing Kennedy's appointment and 2025 guidance during earnings call.

Stock Performance

- Moderna's stock initially dropped 5% premarket, but recovered with a 2% increase after opening bell.