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Royalty Pharma Q3 adjusted EBITDA beats estimates; raises 2026 guidance

By Reuters News


Overview

  • U.S. biopharma royalty investor's Q3 Portfolio Receipts grew 9% yr/yr

  • Adjusted EBITDA for Q3 beat analyst expectations

  • Company raised full-year 2026 Portfolio Receipts guidance, now expecting 10-11% growth


Outlook

  • Royalty Pharma raises 2026 Portfolio Receipts guidance to $3.5 bln-$3.55 bln

  • Company expects 2026 operating and professional costs at 5.5%-6.0% of Portfolio Receipts

  • Royalty Pharma anticipates 2026 interest paid of $350 mln-$360 mln


Result Drivers

  • PRODUCT PERFORMANCE - Growth in Royalty Receipts was driven by Tremfya, Voranigo, Evrysdi and Imdelltra, while Promacta and Imbruvica declined

  • MILESTONES - Higher milestones and contractual receipts contributed to Portfolio Receipts growth

  • PORTFOLIO EXPANSION - Co added royalties on three new therapies in Q3, strengthening portfolio


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Adjusted EBITDA

Beat

$840 mln

$792.29 mln (5 Analysts)


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the pharmaceuticals peer group is "buy"

  • Wall Street's median 12-month price target for Royalty Pharma PLC is $66.00, about 0.6% below its November 3 closing price of $66.40

  • The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 11 three months ago


Reuters Recommended Reads

  • Nov 4 - Novo Nordisk Q3 adjusted profit, sales jump on GLP-1 demand; raises outlook

  • Nov 3 - Pfizer raises 2026 forecasts as Eliquis, cancer drugs drive third-quarter results

  • Nov 3 - Amgen Q3 revenue beats expectations on higher volumes


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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