Q1 26 EPS
$0.76
MISS 16.86%
Est. $0.91
Q1 26 Revenue
$766.2M
BEAT +1.93%
Est. $751.7M
vs S&P Since Q1 26
+17.9%
BEATING MARKET
BMRN +23.9% vs S&P +6.0%
Market Reaction
Did BMRN Beat Earnings? Q1 2026 Results
BioMarin delivered a mixed first quarter for 2026, with revenue clearing expectations but earnings falling notably short as a series of one-time charges weighed on the bottom line. The company posted revenue of $766.21 million, a 2.8% year-over-year … Read more BioMarin delivered a mixed first quarter for 2026, with revenue clearing expectations but earnings falling notably short as a series of one-time charges weighed on the bottom line. The company posted revenue of $766.21 million, a 2.8% year-over-year gain that edged past the $751.68 million consensus, yet earnings per share of $0.76 came in 16.86% below the $0.91 estimate, undercut primarily by a $31 million charge tied to an unsuccessful NAGLAZYME manufacturing process qualification campaign and pre-close costs related to BioMarin's acquisition of Amicus Therapeutics, which together shaved roughly $0.19 from EPS year-over-year. That deal, which adds GALAFOLD and POMBILITI + OPFOLDA to BioMarin's commercial portfolio, was the transformative event of the quarter and is the primary engine behind the company's sharply raised full-year 2026 revenue guidance of $3.83 billion to $3.93 billion, representing roughly 20% growth at the midpoint. Evercore ISI lifted its price target on the stock following positive VOXZOGO data, a reflection of broader pipeline confidence heading into anticipated Phase 3 readouts for BMN 401 and VOXZOGO in hypochondroplasia during Q2.
Key Takeaways
- • Timing of large government orders outside the U.S.
- • Increased patient demand for Enzyme Therapies portfolio
- • New patients initiating VOXZOGO therapy across all regions with >20% Y/Y growth in treated children
- • Enzyme Therapies revenue grew 6% Y/Y driven by VIMIZIM, NAGLAZYME, and BRINEURA
- • PALYNZIQ new starts in under-18 age group following February label expansion
- • $31 million charge for unsuccessful NAGLAZYME manufacturing process qualification campaign negatively impacted margins
- • Higher SG&A from Amicus pre-close costs and increased VOXZOGO/PALYNZIQ/VIMIZIM commercial spend
BMRN YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
BMRN Revenue by Segment
With YoY comparisons, source: SEC Filings
“With the acquisition of Amicus Therapeutics complete, the addition of GALAFOLD and POMBILITI + OPFOLDA to our commercial portfolio allows us to reach patients with Fabry and Pompe diseases and meaningfully strengthens and accelerates our near-to-mid-term growth rates. We expect these high-growth assets to support our strongest financial performance yet in 2026.”
— Alexander Hardy, Q1 2026 Earnings Press Release
BMRN Earnings Trends
BMRN vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BMRN EPS Trend
Earnings per share: estimate vs actual
BMRN Revenue Trend
Quarterly revenue: estimate vs actual
BMRN Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 | $0.95 | — | — | — | — |
| Q1 26 MISS | $0.91 | $0.76 | -16.86% | $766.2M | +1.93% |
| Q4 25 MISS FY | $0.56 | $0.46 | -17.95% | $874.6M | +4.73% |
| FY Full Year | — | $3.15 | — | $3.22B | — |
| Q3 25 MISS | $0.32 | $0.12 | -62.50% | $776.1M | -0.52% |
| Q2 25 BEAT | $1.01 | $1.44 | +42.31% | $825.4M | +8.37% |
| Q1 25 BEAT | $0.95 | $1.13 | +18.87% | $745.1M | +0.91% |