Jazz Pharmaceuticals plc
Q2 2026 Earnings
Market Reaction
Did JAZZ Beat Earnings? Q2 2026 Results
Jazz Pharmaceuticals delivered a mixed second quarter for fiscal 2026, posting revenue that cleared Wall Street expectations by a wide margin while earnings fell short of the bar analysts had set. The Dublin-based specialty pharma company reported Q2 revenue of $1.21 billion, a 15.6% increase year over year and 8.43% ahead of the $1.11 billion consensus, driven by broad portfolio momentum including 13% growth in lead sleep asset Xywav to $471.20 million and a 16% advance in Epidiolex to $292.10 million. Non-GAAP adjusted EPS of $5.71, however, missed the $6.18 consensus by 7.54%, with a $77.00 million in-quarter acquired IPR&D charge tied to the AbCellera and Werewolf Therapeutics collaborations weighing on the bottom line by $0.94 per share. Encouraged by the revenue strength, management raised full-year 2026 revenue guidance to $4.60 billion to $4.75 billion from the prior $4.25 billion to $4.50 billion range, with investors now watching a key August 25 PDUFA decision for zanidatamab in first-line HER2-positive gastroesophageal adenocarcinoma as the next major catalyst.
- Xywav net patient adds of approximately 525 in Q2, reaching 17,125 active patients
- Continued strong demand for Epidiolex driving 16% YoY growth
- Zepzelca uptake of atezolizumab combination in 1L maintenance ES-SCLC setting driving 42% YoY growth
- Modeyso contributing $48M in its first year of commercial availability
- Higher royalty revenues from Modeyso and Zepzelca
- Increased marketing investment and compensation-related expenses supporting commercial portfolio
“Our second quarter results highlight strong execution and momentum across the business, delivering 16% year-over-year total revenue growth and driving a considerable increase to our full-year revenue guidance. We remain focused on long-term growth as we prepare to launch Ziihera in HER2+ 1L GEA, advance the zanidatamab and Epidiolex clinical programs, and expand our pipeline through targeted corporate development and internal research and development. The combination of commercial execution, portfolio expansion and our strong financial foundation positions Jazz to deliver meaningful innovation for patients and substantial value for shareholders.”
Jazz Pharmaceuticals CEO, on the earnings call
Forward Guidance & Outlook
Jazz Pharmaceuticals raised its full-year 2026 total revenue guidance to $4.60–$4.75 billion (up from $4.25–$4.50 billion previously), reflecting anticipated double-digit YoY revenue growth from both Xywav and the combined epilepsy and oncology franchises. GAAP guidance includes gross margin of 89%–90%, SG&A expenses of $1,506–$1,556 million, R&D expenses of $818–$873 million, effective tax rate of 0%–10%, and weighted-average diluted shares of 69–70 million. Non-GAAP adjusted guidance includes gross margin of 90%–91%, SG&A expenses of $1,330–$1,370 million, R&D expenses of $725–$775 million, and effective tax rate of 11.5%–13.5%. Key near-term catalysts include the PDUFA target action date of August 25, 2026 for zanidatamab in 1L HER2+ GEA, second interim OS data from HERIZON-GEA-01 expected in Q3 2026, and the Phase 3 ACTION trial OS interim analysis anticipated in 1H27.
JAZZ YoY Financials
JAZZ Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.