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Moderna swings to Q3 profit, raises outlook on strong COVID vaccine demand

By Reuters News


Overview

  • US mRNA vaccine maker's Q3 revenue grew 29% yr/yr, driven by higher international COVID vaccine sales

  • Q3 net profit turned positive and adjusted EPS beat analyst expectations

  • Company raised 2026 revenue growth outlook to 15%-25% from up to 10%


Outlook

  • Moderna raises 2026 revenue growth outlook to 15%-25%, up from up to 10%

  • Company expects 2026 cost of sales to be about $1.7 bln, including $0.9 bln litigation charge

  • Moderna sees 2026 year-end cash and investments at $8.1 bln-$8.3 bln, up from prior $4.7 bln-$5.2 bln


Result Drivers

  • INTERNATIONAL COVID VACCINE SALES - Q3 revenue growth was primarily driven by higher COVID vaccine sales in international markets, supported by deliveries under long-term strategic government partnerships

  • COST EFFICIENCIES - Research and development expenses fell 27% yr/yr, mainly due to lower clinical development costs after completion and wind-down of late-stage studies and continued cost efficiencies

  • PRODUCT PORTFOLIO EXPANSION - Company launched updated COVID vaccines and expanded respiratory vaccine portfolio, including new approvals for mFLUSIVA and mCOFLU


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

$1.3 bln

Q3 EPS

Beat

$0.38

-$1.25 (15 Analysts)

Q3 Net Income

$162 mln


Reuters Recommended Reads

  • Nov 5 - Moderna pressed by US judges on billion-dollar COVID patent defense

  • Nov 5 - Novavax pushes profitability target to 2029, shares dip

  • Nov 4 - Novo hikes outlook again as it speeds up Wegovy pill rollout


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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