Vertex Pharmaceuticals (1VRTX) Q3 2026 Earnings Report
IT:1VRTX Q3 2026 EPS Results
- Actual EPS
- EUR 4.26
- Consensus EPS
- EUR 4.31
- Beat/Miss
- Missed by -EUR 0.05
- One Year Ago EPS
- EUR 4.29
IT:1VRTX Q3 2026 Revenue Results
- Actual Revenue
- EUR 3.08B
- Expected Revenue
- EUR 3.06B
- Beat/Miss
- Beat by +EUR 19.07M
- YoY Revenue Growth
- +10.44%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/02/2026
- Time
- After Close
- Conference Call
- Monday, November 2, 2026
IT:1VRTX Upcoming Earnings
Vertex Pharmaceuticals's next earnings date is estimated for February 9, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
IT:1VRTX Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive, with 12% year-over-year revenue growth, raised full-year revenue guidance, strong commercial momentum across ALYFTREK, CASGEVY, JOURNAVX, and Palsonify, substantial pipeline advancement, and readiness for the povitacept IgAN launch. The main challenges were higher operating and financing costs related to the Crinetics acquisition, temporary JOURNAVX gross-to-net pressure, and the lack of sweat-chloride improvement in the VX-828 dual-combination cohort, but these were outweighed by the reported commercial and clinical progress.
Company Guidance
Vertex raised total revenue guidance from $13.1 billion to $13.2 billion to $13.15 billion to $13.25 billion, including $40 million to $50 million from Crinetics, more than $500 million in revenue from CASGEVY and JOURNAVX, 4 months of Palsonify, and an expected full year benefit from foreign exchange of roughly 150 basis points; full year gross margins are expected to be slightly below 86%, combined non GAAP operating expense guidance was revised from $5.65 billion to $5.75 billion to approximately $6 billion, including approximately $250 million of Crinetics operating expenses and integration related costs, total nonoperating costs are expected to be $105 million, interest income is projected to be approximately $60 million lower, and the full year non GAAP effective tax rate is expected to be between 19.5% and 20.5%.
- Strong Third-Quarter Revenue GrowthThird-quarter total revenue grew 12% year over year, with growth of 10% in the US and 16% internationally. Results included an approximately 1 percentage point favorable impact from foreign exchange and $10 million of revenue from Crinetics following the acquisition close.
- Raised Full-Year Revenue GuidanceFull-year 2026 revenue guidance was raised from $13.1 billion to $13.2 billion to a revised range of $13.15 billion to $13.25 billion. Crinetics is expected to contribute $40 million to $50 million of full-year 2026 revenue.
- CF Franchise and ALYFTREK MomentumThird-quarter global CF revenue was $3.3 billion, up 8% year over year, including 5% growth in the US and 12% outside the US, or 10% on a constant-currency basis. ALYFTREK generated $706 million in worldwide Q3 sales, US year-to-date sales surpassed $1 billion, more than 18,000 patients were benefiting from ALYFTREK globally, and reimbursement was available in 31 countries outside the US.
- ALYFTREK Clinical and Regulatory ProgressALYFTREK can treat up to 95% of people with CF, and more than 75% of ALYFTREK-treated patients ages 12 and older achieved sweat chloride levels in the range of CF carriers in clinical trials. Global submissions have been initiated for approval in children ages 2 to 5.
- CASGEVY Commercial ExpansionCASGEVY generated $99 million in Q3 revenue, representing 30% sequential growth. Approximately 200 infusions had been completed since launch, there was a fourth consecutive quarter with more than 100 patient initiations, more than 750 patients had been initiated worldwide since launch, and twice as many patients had been infused in the first nine months of 2026 as in all of 2025. CASGEVY is expected to contribute meaningfully to the greater-than-$500 million non-CF revenue goal for 2026.
- CASGEVY Pediatric ApprovalsCASGEVY received approval for patients ages 2 to 11 in the US, UAE, and Bahrain, and for patients ages 5 to 11 in the UK, for severe sickle cell disease and transfusion-dependent beta thalassemia.
- JOURNAVX Prescription and Revenue GrowthJOURNAVX generated more than $58 million in Q3 revenue, up 18% quarter over quarter. Prescriptions exceeded 750,000 in the quarter, up more than 40% sequentially, more than 1.6 million US patients had been treated, and JOURNAVX became the number one prescribed branded oral analgesic in the US.
- JOURNAVX Real-World Evidence and AccessA recent paper reported 80% freedom from opioid use following total knee replacement when the pain-management regimen included JOURNAVX. Prescriptions were split roughly 50/50 between hospital and retail channels, approximately 82% of managed lives were covered, and the patient support savings program was extended into 2027.
- Palsonify Launch TrajectoryPalsonify contributed $10 million in September revenue and approximately $24 million in Q3 revenue following the Crinetics acquisition. Approximately 500 endocrinologists were writing Palsonify, repeat writers increased significantly in Q3 compared with the first half of 2026, the product had more than 40% brand share among patients initiating or switching therapy, and first-nine-month 2026 revenue was approximately $60 million.
- Palsonify Coverage and Product DifferentiationPalsonify had approximately 80% reimbursed coverage and was described as the first and only once-daily oral SST2-selective agonist for acromegaly. The company stated that approximately 20,000 patients in the US and a similar number across the five largest European markets plus Japan are affected by acromegaly.
- Povitacept IgAN Launch ReadinessVertex stated that it was 100% ready for the November 30 PDUFA date for povitacept in IgA nephropathy. The field team was fully hired, trained, and ready, more than 90% of the team had deep nephrology experience, payer conversations were proceeding well, and a patient-support program had been built.
- Povitacept Patient-Centric AdministrationPovitacept is formulated as a small-volume 0.46 mL subcutaneous injection administered once every four weeks through an at-home autoinjector. In a survey of approximately 25 US adults with IgA nephropathy, 96% preferred an autoinjector over a prefilled syringe and 80% preferred dosing every four weeks over weekly dosing.
- Progress Across the Renal PipelineThe AMPLITUDE Phase 2/3 trial of anaxaplin in AMKD completed full enrollment and remained on track for an interim analysis early next year. In AMPLIFIED, anaxaplin reduced UACR by 42.7% from baseline at week 13 in cohort 1, with a 44.7% reduction reported, and reduced UACR by 17.3% and UPCR by 25.4% in cohort 2. The drug was generally safe and well tolerated, with no serious adverse events related to anaxaplin and all adverse events mild or moderate. The VX407 AGLOW Phase 2 study in ADPKD also completed enrollment and remained on track for a readout next year.
- Pipeline Advancement in Rare Endocrine and Type 1 DiabetesThe phase 3 pivotal trial of atumelnant in congenital adrenal hyperplasia was well underway, with adult enrollment targeted for completion in Q1 2027. A pediatric phase 2 dose-ranging study and an adaptive global phase 2/3 study in ACTH-dependent Cushing syndrome were also underway. Vertex began dosing patients in a phase 1/2 study of VX-017, an allogeneic, off-the-shelf, glucose-responsive insulin-producing islet cell therapy designed for people with all blood types, with the goal of moving to pivotal development next year.
- Advancement in Pain, DM1, and Myasthenia Gravis ProgramsBoth phase 3 studies of suzetrigine in painful diabetic peripheral neuropathy remained on track to complete enrollment by year-end, with results expected by mid-2027. Vertex remained on track to share interim results from the Galileo phase 1/2 study of VX-670 in DM1 before year-end and completed enrollment in the Aetna phase 2 dose-ranging study of povitacept in generalized myasthenia gravis, with proof-of-concept data expected in the first half of 2027.
- Positive VX-828 Results Relative to TrikaftaIn a study of 16 patients with CF and F508del mutations, the VX-828 triple combination produced a 6.6 millimole-per-liter reduction in sweat chloride at day 28 and a 9.4 millimole reduction through day 28 versus the Trikafta baseline. The regimen was oral once daily with good safety, tolerability, and drug-drug interaction profiles.
- Strong Profitability and Capital PositionThird-quarter non-GAAP gross margin was 85.6%, non-GAAP net income was $1.21 billion, and non-GAAP EPS was $4.76. Vertex ended the quarter with approximately $9.8 billion in cash and investments and repurchased approximately 250,000 shares for about $120 million during the quarter.
- Continued Investment in Innovation and Commercial InfrastructureVertex stated that the increase in operating-expense guidance reflects continued investment in the late-stage clinical pipeline and commercial infrastructure supporting launch and revenue diversification. The company also continued to prioritize investment in innovation, including external innovation, alongside share repurchases.
IT:1VRTX Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 09, 2027 | 2026 (Q4) | 3.80- | 4.5 | ― | ― |
| Nov 02, 2026 | 2026 (Q3) | 4.314.26 | 4.29 | -0.83% (-0.04) | |
| Aug 03, 2026 | 2026 (Q2) | 4.244.23 | 4.04 | 4.65% (+0.19) | |
| May 04, 2026 | 2026 (Q1) | 3.794.00 | 3.63 | 10.10% (+0.37) | |
| Feb 12, 2026 | 2025 (Q4) | 4.574.50 | 3.56 | 26.38% (+0.94) | |
| Nov 03, 2025 | 2025 (Q3) | 4.094.29 | 3.92 | 9.59% (+0.38) | |
| Aug 06, 2025 | 2025 (Q2) | 3.834.04 | -11.47 | 135.23% (+15.51) | |
| May 05, 2025 | 2025 (Q1) | 3.863.63 | 4.26 | -14.71% (-0.63) | |
| Feb 10, 2025 | 2024 (Q4) | 3.593.56 | 3.76 | -5.24% (-0.20) | |
| Nov 04, 2024 | 2024 (Q3) | 3.653.92 | 3.65 | 7.35% (+0.27) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed
