Alkermes (ALKS) Q2 2026: Revenue Surges but EPS Hits Zero
As seen on the 24/7 Wall St. homepage on July 28, 2026.
Alkermes blew past revenue expectations as the Avadel acquisition kicked in with LUMRYZ contributing $96.6 million, but earnings cratered to zero on acquisition charges and $26.4 million in contingent consideration step-ups. The company also announced CEO Richard Pops is handing the reins to Blair Jackson effective August 1.
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Alkermes posted Q2 2026 revenue of $496 million, beating the $457.4 million analyst estimate by roughly 8.5% and marking a sharp jump from the $390.7 million reported in the same quarter a year earlier. The standout driver was LUMRYZ, the narcolepsy treatment acquired through the Avadel deal, which contributed $96.6 million to the top line on its own.
Despite the revenue beat, earnings per share came in at zero against an estimated $0.29, a 100% miss. The shortfall was not an operational stumble but rather the accounting cost of the acquisition itself — charges tied to the deal combined with $26.4 million in contingent consideration step-ups wiped out the quarter's profit entirely. Investors watching the stock will need to separate those one-time items from the underlying business momentum when assessing the quarter's true health.
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The quarter also brought a leadership change: longtime CEO Richard Pops is passing the role to Blair Jackson, with the transition effective August 1. Pops has led Alkermes for decades, so the handover represents a meaningful shift in the company's direction at a moment when the Avadel integration is still in its early stages.
Mentioned: ALKS