Gilead Sciences Q3 2026: HIV Growth Fuels a 15% EPS Beat
As seen on the 24/7 Wall St. homepage on October 29, 2026.
Management has now raised full-year product sales guidance three times this year, a cumulative $1.6 billion increase since January, on 18% HIV sales growth. New twice-yearly PrEP drug Yeztugo is the engine behind it.
Continue ReadingShow less
Gilead Sciences posted adjusted non-GAAP earnings of $2.55 per share in the third quarter of 2026, exceeding expectations for the sixth consecutive quarter on HIV franchise strength.
HIV sales grew 18% to $6.25 billion, with Biktarvy, Descovy, and a fast commercial ramp in Yeztugo, the twice-yearly lenacapavir PrEP drug, carrying the quarter. The broader surge in HIV prevention demand is what management cited as a primary engine of growth.
Encouraged by that momentum, Gilead raised its full-year 2026 product sales guidance to $31.00 billion to $31.30 billion, the third upward revision this year and a cumulative $1.60 billion increase since January. CEO Daniel O'Day described the quarter as the company's strongest year-over-year base business growth in more than a decade, and noted that HIV prevention sales nearly doubled year over year.
Sponsored
Operating cash flow reached $5.04 billion, evidence of a business generating substantial cash even as large acquired in-process research and development charges tied to the Arcellx, Tubulis, Ouro Medicines, and PepStar transactions weigh on GAAP results, pushing the full-year GAAP EPS outlook to a loss of $4.40 to $4.05 per share.
Beyond HIV, Trodelvy in oncology grew 42% to $506 million while cell therapy slipped and Veklury fell as COVID-19 hospitalizations declined. The Medicare Maximum Fair Price for Biktarvy takes effect January 1, 2028, and will pressure the franchise that anchors Gilead's revenue base.
Mentioned: GILD