Incyte Q4 Adj EPS Misses Estimates, But Revenues Top

(RTTNews) - Incyte Corp. (INCY) on Tuesday reported net income of $201.10 million or $0.89 per share for the fourth quarter, sharply higher than $28.46 million or $0.13 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $1.06 per share, compared to $0.62 per share in the year-ago quarter.

Total revenues for the quarter rose 9 percent to $1.01 billion from $926.70 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.16 per share on revenues of $1.0 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2024, Incyte now projects Jakafi net product revenue in a range of $2.69 billion to $2.75 billion. Other Hematology/Oncology net product revenues are projected between $325 million and $360 million.

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