Incyte Corporation: Beat — EPS -$3.60, Revenue $1.56B
Earnings BeatQ3 2026 · Pre-market
Did Incyte Corporation (INCY) beat earnings today?
Yes, Incyte Corporation (INCY) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+6.98% surprise
-$3.60Actual
Expected: -$3.87
vs. year ago -259.3%
Total Revenue+6.66% surprise
$1.56BActual
Expected: $1.46B
vs. year ago +14.0%
Released Oct 29 · 7:00 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $1.56B | $1.37B | +14.0% |
| Revenue detail — reported lines | |||
| └─Net sales | $1.32B | $1.15B | +14.0% |
| └─Jakafi | $826.50M | $791.07M | +4.0% |
| └─Opzelura | $254.88M | $187.97M | +36.0% |
| └─Iclusig | $33.53M | $37.58M | -11.0% |
| └─Pemazyre | $21.18M | $22.74M | -7.0% |
| └─Minjuvi/Monjuvi | $54.63M | $41.99M | +30.0% |
| └─Niktimvo | $67.37M | $45.83M | +47.0% |
| └─Zynyz | $58.33M | $22.67M | +157.0% |
| └─Product royalty revenues | $190.99M | $171.12M | +12.0% |
| └─Jakavi | $132.46M | $125.64M | +5.0% |
| └─Olumiant | $39.05M | $37.11M | +5.0% |
| └─Tabrecta | $6.83M | $6.51M | +5.0% |
| └─Other | $12.65M | $1.85M | +582.0% |
| └─Milestone and contract revenues | $49.80M | $45.00M | +11.0% |
| Net Loss | ($784.80M) | $424.17M | - |
| GAAP Basic EPS | -$3.86 | $2.17 | - |
| GAAP Diluted EPS | -$3.86 | $2.11 | - |
| Non-GAAP Basic EPS | -$3.60 | $2.33 | - |
| Non-GAAP Diluted EPS | -$3.60 | $2.26 | - |
Financial Outlook / Guidance
| Metric | Next Quarter Outlook | FY2026 Outlook |
|---|---|---|
| Total net sales | — | $5,210M-$5,300M (prev. $5,130M-$5,260M) |
| Jakafi net sales | — | Unchanged (prev. $3,220M-$3,270M) |
| Opzelura net sales | — | $1,100M-$1,120M (prev. $1,050M-$1,100M) |
| Hematology and Oncology net sales | — | $890M-$910M (prev. $860M-$890M) |
| Total GAAP R&D and SG&A operating expenses | — | Unchanged (prev. $4,915M-$4,995M) |
| Total Non-GAAP R&D and SG&A operating expenses | — | Unchanged (prev. $4,625M-$4,695M) |
Business Highlights
- ➤Completed the Vega Therapeutics acquisition, adding Phase 3 VWD candidate latarcibart.
- ➤Initiated EXCALIBUR-ET2 Phase 3 study for INCA033989 in essential thrombocythemia.
- ➤Expected to initiate EXCALIBUR-MF2 Phase 3 study by year-end 2026.
- ➤Global Monjuvi/Minjuvi DLBCL regulatory submissions remain under review.
- ➤Completed DAWN-303 Phase 3 enrollment activity for INCB161734 in metastatic PDAC.
- ➤Initiated NEXERA-204 Phase 2 study in ctDNA-positive stage II/III MSS CRC.
- ➤Discontinued MAESTRA-2 enrollment following strategic ovarian-cancer focus shift.
- ➤European Commission approved Opzelura for moderate atopic dermatitis in adults.
- ➤CHMP issued positive opinion for povorcitinib in moderate-to-severe HS.
- ➤Completed $1.25B Vega acquisition; Star may receive up to $750M in milestones.
- ➤Entered CMS agreement supporting Medicaid access to Jakafi and Jakafi XR.
Management Commentary
Bill Meury, Chief Executive Officer, Incyte
“Our third quarter was marked by strong commercial performance, meaningful pipeline progress and important regulatory achievements. Net sales growth was strong in both the U.S. and internationally, creating a durable core business beyond Jakafi. At the same time, we are advancing a pipeline led by a CALR-targeted monoclonal antibody for myeloproliferative neoplasms, a novel Protein S modulator for von Willebrand disease, a KRAS G12D inhibitor for pancreatic and colorectal cancers and a TGFβR2×PD-1 bispecific antibody for colorectal cancer. Each represents a significant opportunity for Incyte, and together they give us multiple paths to growth beyond 2029. With important clinical, regulatory and commercial catalysts ahead, we are well positioned to create long-term value for patients and shareholders.”