Pacira sees FY22 EPS ‘at least’ $2.50, consensus $2.77

Pacira BioSciences reports FY22 preliminary unaudited total revenue of $666.8M for 2022, compared with $541.5 million forM representing an increase of 23.1%. Consensus for FY22 revenue is $671.3M. The company’s 2022 revenue includes net product sales of EXPAREL or bupivacaine liposome injectable suspension, ZILRETTA , triamcinolone acetonide, extended-release injectable suspension , and the iovera system. Pacira began recognizing sales of ZILRETTA in November 2021 following the completion of its acquisition of Flexion Therapeutic. "Despite ongoing macroeconomic challenges, Pacira continues to outperform the surgical market with significant adjusted EBITDA and durable cash flows that allow us to self-fund growth opportunities while paying down significant portions of our debt," said Dave Stack, chairman and chief executive officer of Pacira BioSciences. "We ended the year with a strong balance sheet and expect to report adjusted earnings per share of at least $2.50 for 2022, marking our ninth consecutive year of positive adjusted earnings. Further solidifying our financial condition, we prepaid $50 million of outstanding principal under our Term Loan B in December 2022 and we expect to use our strong cash position to make another significant pre-payment in 2023 to further reduce our interest expense. With three safe and unique opioid-sparing commercial assets and multiple near- and long-term opportunities across our portfolio, we believe Pacira is well-positioned for continued growth and value generation in 2023 and beyond."