Biogen Posts Adj. Profit In Q4; Sees FY22 Results Below Market

(RTTNews) - Biogen Inc. (BIIB) reported that its fourth quarter non-GAAP earnings per share was $3.39 compared to a loss of $1.05, prior year. On average, 28 analysts polled by Thomson Reuters expected the company to report profit per share of $3.38, for the quarter. Analysts' estimates typically exclude special items.

Net income attributable to Biogen Inc. was $368.2 million or $2.50 per share compared to $357.9 million or $2.32 per share, previous year.

Total revenue declined to $2.73 billion from $2.85 billion, prior year. Analysts on average had estimated $2.62 billion in revenue.

For 2022, Biogen expects: non-GAAP EPS to be between $14.25 and $16.00; and revenue to be between $9.7 billion and $10.0 billion. Analysts expect the company to report profit per share of $18.85 on revenue of $10.34 billion. The company noted that its financial guidance assumes minimal ADUHELM revenue in 2022.

Shares of Biogen Inc. were down nearly 4% in pre-market trade on Thursday.