Jazz Pharmaceuticals plc
Q1 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +0.73%.
Did JAZZ Beat Earnings? Q1 2026 Results
Jazz Pharmaceuticals delivered a standout first quarter for fiscal 2026, posting non-GAAP adjusted EPS of $6.34 against a consensus estimate of $4.66, a beat of 36.18%, while revenue climbed 19.1% year-over-year to $1.07 billion, exceeding analyst expectations of $979.01 million by 9.18%. The headline driver behind the earnings strength was broad commercial momentum across the company's core franchises, with Xywav contributing $408.20 million as the largest single revenue source, Epidiolex growing 15% to $249.80 million, and Zepzelca surging 60% to $101.00 million on the strength of its atezolizumab combination in small cell lung cancer. A $122.80 million gain from the sale of a Rare Pediatric Disease Priority Review Voucher further supported GAAP results, helping swing net income to $293.10 million from a loss of $92.50 million a year ago. Shares reached notable highs in the wake of the report, reflecting investor confidence in Jazz's diversified portfolio. Management reaffirmed full-year 2026 revenue guidance of $4.25 billion to $4.50 billion, with a potential zanidatamab approval in gastroesophageal adenocarcinoma carrying a PDUFA date of August 25, 2026.
- Strong Xywav demand with 425 net patient adds reaching ~16,600 active patients
- Zepzelca revenues grew 60% YoY driven by uptake of Zepzelca and atezolizumab combination in 1LM ES-SCLC
- Epidiolex continued consistent demand-driven growth of 15% YoY
- Modeyso contributed $41 million in its first full quarter following August 2025 launch
- SG&A declined significantly due to $172 million Xyrem antitrust litigation settlements in 1Q25 not recurring
- $122.8 million gain on sale of Priority Review Voucher
“Our first-quarter results reflect disciplined execution across the business, delivering 19% year-over-year growth alongside key pipeline advancements and positioning the company for an outstanding 2026.”
Jazz Pharmaceuticals CEO, on the earnings call
Forward Guidance & Outlook
Jazz Pharmaceuticals reaffirmed its full-year 2026 revenue guidance of $4,250 million to $4,500 million. The company also reaffirmed expense guidance: GAAP gross margin of 89%-90%, GAAP SG&A of $1,424-$1,497 million, GAAP R&D of $811-$867 million, and GAAP effective tax rate of 0%-10%. Non-GAAP gross margin is guided at 90%-91%, non-GAAP SG&A of $1,260-$1,320 million, non-GAAP R&D of $725-$775 million, and non-GAAP effective tax rate of 11.5%-13.5%. Weighted-average shares outstanding guidance was updated to 66-67 million. The company expects second-line Zepzelca use to decline throughout the year. The zanidatamab sBLA in 1L HER2+ GEA has a PDUFA date of August 25, 2026, with potential approval and launch on or before that date. The Phase 3 ACTION trial for Modeyso has a top-line readout expected late 2026/early 2027.
JAZZ YoY Financials
JAZZ Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.