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Moderna Inc (NASDAQ: MRNA) reports Q1 EPS of $2.84, a turnaround from EPS loss of $0.35 a year ago, beating the consensus estimate of $2.39.
However, Q1 revenues of $1.9 billion compared to $8 million a year ago fell short of the $2.04 billion consensus.
The stupendous sales growth was primarily attributable to commercial sales of its COVID-19 vaccine of $1.7 billion, and 102 million doses were recognized as revenue.
Operating income came in at 1.3 billion compared to a loss of $131 million.
It held cash and equivalents were $8.2 billion and generated an operating cash flow of $3.0 billion.
Guidance: For FY21, the company has already signed Advance Purchase Agreements for scheduled delivery for a total of $19.2 billion in anticipated product sales, including sales already recorded in this March quarter.
It expects to deliver 200-250 million doses of its COVID-19 shots in Q2. Moderna also sees higher R&D and SG&A expenses during 2021 as commercial, R&D activities, and costs ramp up.
Yesterday, a single booster dose of Moderna's COVID-19 vaccine generated a favorable immune response against variants first identified in South Africa and Brazil.
Price Action: MRNA shares dropped 5.8% at $153.36 during the premarket session on the last check Thursday.
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