The week-ending August 8 saw 20 companies in the healthcare sector report their quarterly earnings. With the earnings season nearing the end, 56 out of 60 companies in the sector have posted their results.
This week, the Health Care Select Sector SPDR Fund ETF (NYSEARCA:XLV) improved to lose a little over 2%. On a quarter-to-date basis, XLV has lost more than 9% compared to an over 13% rise in the S&P500 index.
Among the companies that reported their results, only one missed earnings estimate, while on the revenue side, all the firms beat consensus.
Following are the results of major healthcare firms from the week:
Viatris (NASDAQ:VTRS) posted a better-than-expected Q2 print with EPS coming in at $0.62 and a revenue of $3.58 billion. The management reaffirmed its 2025 financial guidance ranges across all key metrics and currently expects to be in the “top half of the range on revenue and adjusted EPS.”
Share of Gilead Science (NASDAQ:GILD) inched up after the company lifted its full-year sales and profit forecast, supported by rising demand for its HIV products. GILD posted an earnings double beat driven by Biktarvy, Descovy, Trodelvy and Livdelzi, its CEO said.
Eli Lilly (NYSE:LLY) topped both EPS and revenue estimates. Revenue rose 38% to $15.56 billion, driven by volume growth from Zepbound and Mounjaro, the company said. Further, the company also increased the midpoint of its full-year revenue guidance by $1.5 billion to be in the range of $60 billion to $62 billion.
With 93% of companies in the sector having reported earnings, only four remain to release their results this quarter. On a quarter-to-date basis, 12.5% of the companies reporting their results have missed earnings estimates, while 7.14% have missed revenue estimates.
On an industry level, 7 pharmaceutical companies, 8 biotechnology companies, and 5 managed healthcare firms have released their quarterly reports. 27 companies were from the health care equipment, health care facilities, health care services and health care supplies industry, while 9 were life sciences tools and services firms.
Cardinal Health (NYSE:CAH) is the only healthcare firm reporting its results next week.