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Gilead Raises Non-GAAP Diluted Earnings Outlook for 2024

publication date: Aug 19, 2024
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Image Source: Gilead. 

Looking to full-year 2024, Gilead expects total product sales of $27.1-$27.5 billion, unchanged from its prior outlook. Non-GAAP diluted earnings per share is now targeted in the range of $3.60-$3.90, compared to $3.45-$3.85 previously. At the end of the quarter, Gilead had $2.8 billion in cash and cash equivalents, which was down from the $8.4 billion mark as of the end of last year due to its $3.9 billion acquisition of CymaBay Therapeutics and a $1.75 billion repayment of senior notes. All told, we liked Gilead's second quarter results and its raised non-GAAP earnings per share guidance. Shares yield 4.2% at the time of this writing.


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