Vertex Pharmaceuticals Incorporated: Mixed — EPS $4.76, Revenue $3.44B
Mixed ResultQ3 2026 · After-market
Did Vertex Pharmaceuticals Incorporated (VRTX) beat earnings today?
It was a mixed report for Q3 2026 — Vertex Pharmaceuticals Incorporated (VRTX) beat on EPS but missed on revenue.
Earnings Per Share-0.42% surprise
$4.76Actual
Expected: $4.78
vs. year ago -0.8%
Total Revenue+0.31% surprise
$3.44BActual
Expected: $3.43B
vs. year ago +12.0%
Released Nov 02 · 4:01 PM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $3.44B | $3.08B | +12.0% |
| Revenue detail — reported lines | |||
| └─Product revenues, net | $3.44B | $3.08B | +11.8% |
| └─Other revenues | - | - | - |
| └─Total CF product revenues, net | $3.27B | $3.04B | +7.7% |
| └─TRIKAFTA/KAFTRIO | $2.44B | $2.65B | -8.2% |
| └─ALYFTREK | $705.80M | $247.00M | +185.7% |
| └─Other CF product revenues | $130.50M | $139.30M | -6.3% |
| └─CASGEVY | $99.20M | $16.90M | +487.0% |
| └─JOURNAVX | $58.30M | $19.60M | +197.4% |
| └─PALSONIFY | $10.10M | - | - |
| Net Income | $653.60M | $1.08B | -39.6% |
| GAAP Basic EPS | $2.58 | $4.24 | -39.2% |
| GAAP Diluted EPS | $2.56 | $4.20 | -39.0% |
| Non-GAAP Diluted EPS | $4.76 | $4.80 | -0.8% |
Financial Outlook / Guidance
| Metric | Next Quarter Outlook | FY26 Outlook | Expected |
|---|---|---|---|
| Total revenue | — | $13.15B-$13.25B (prev. $13.1B-$13.2B) | $13.28BMissed -0.60% |
| Legacy non-CF product revenue | — | Unchanged (prev. $0.5B or greater) | — |
| PALSONIFY revenue | — | $40M-$50M | — |
| Combined GAAP R&D, AIPR&D, and SG&A expenses | — | $7.15B-$7.2B (prev. $6.3B-$6.45B) | — |
| Combined non-GAAP R&D, AIPR&D, and SG&A expenses | — | ~$6.0B (prev. $5.65B-$5.75B) | — |
Business Highlights
- ➤Completed the Crinetics Pharmaceuticals acquisition, establishing a fourth commercial pillar in rare endocrine diseases.
- ➤Secured ALYFTREK reimbursement in seven additional countries, reaching 32 reimbursed countries.
- ➤Initiated global regulatory submissions for ALYFTREK in children ages 2 to 5 years.
- ➤U.S. FDA approved CASGEVY for children aged 2 years and older with SCD and TDT.
- ➤CASGEVY received pediatric approvals in the United Arab Emirates, Bahrain, and United Kingdom.
- ➤JOURNAVX became the most prescribed branded oral pain medicine in the U.S. as of August 2026.
- ➤More than 245 million individuals have access to PALSONIFY.
- ➤Povetacicept’s IgAN BLA remains under priority review with a November 30, 2026 PDUFA date.
- ➤Completed full enrollment in the AMPLITUDE pivotal study of inaxaplin.
- ➤Vertex chose to prioritize VX-017 and expects pivotal development in 2027.
- ➤Completed enrollment and dosing in the GALILEO Phase 1/2 trial of VX-670.
- ➤Entered a collaboration with AbCellera in July.
Management Commentary
Reshma Kewalramani, M.D., Chief Executive Officer and President of Vertex
“Vertex delivered excellent third quarter results marked by strong revenue growth across the increasingly diversified portfolio, continued advancement of the R&D pipeline, and the successful close of the Crinetics Pharmaceuticals acquisition. With the potential povetacicept approval in IgAN coming later this month, we are well positioned to establish nephrology as our fifth commercial franchise and expand the reach of our transformative medicines to even more patients.”