Companies /Healthcare
United Therapeutics Corp
NASDAQ: UTHR Drug Manufacturers - Specialty & Generic
$540.03
▼ $3.37 (−0.62%) today
Markets closed · 12:26am ET

United Therapeutics (UTHR) Q3 2025 Earnings

Reported Oct 29, 2025, 6:34am ET · SEC source
$7.16
Beat +2.86%
EPS · est. $6.96
$799.5M
Miss −1.65%
Revenue · est. $812.9M
+6.5%
Beating market
UTHR vs S&P since report
1 quarter
Consecutive EPS beats

How Did UTHR Stock React to Q3 2025 Earnings?

% change · around the report
−5%0+5%+10%Oct 28Nov 5report 6:34am ETearnings−1.5%+6.8%
−5%0+5%+10%Oct 28Nov 5earnings−1.5%+6.8%
UTHR +6.8%S&P 500 −1.5%
−5%0+5%+10%Oct 28Nov 5report 6:34am ETearnings−1.8%+6.8%
−5%0+5%+10%Oct 28Nov 5earnings−1.8%+6.8%
UTHR +6.8%NASDAQ −1.8%
+9.63%
Day of report
−0.39%
Next session
−1.73%
One week
+5.41%
30 days

S&P 500 over the same 30 days: −1.04%.

Did UTHR Beat Earnings? Q3 2025 Results

Yes. United Therapeutics reported Q3 2025 earnings of $7.16 a share on Oct 29, 2025, beating the $6.96 consensus estimate by 2.9%. Revenue was $799.5M against a $812.9M estimate.

United Therapeutics delivered a mixed but broadly encouraging third quarter, beating profit expectations while falling just short on revenue, as the pulmonary disease specialist posted earnings per share of $7.16 against a consensus estimate of $6.96, a 2.86% beat, on revenues of $799.50 million that trailed the $812.87 million estimate by 1.65% yet still grew 6.8% year-over-year. The headline story was the continued dominance of the Tyvaso franchise, where the dry powder inhaler formulation surged to $336.20 million on higher patient volumes, helping total Tyvaso revenues climb 10% to $478.00 million and offsetting a softer showing from nebulized Tyvaso. Orenitram added further momentum with 16% growth, partly aided by the Medicare Part D redesign under the Inflation Reduction Act. Looking ahead, management pointed to breakthrough data from the TETON-2 trial in idiopathic pulmonary fibrosis as a potential catalyst to broaden the company's reach well beyond its pulmonary arterial hypertension core, a narrative that has drawn growing analyst attention and helped fuel a sharp rally in shares in recent months.

Key Takeaways
  • Tyvaso DPI volume growth driven by continued patient adoption since launch
  • Medicare Part D benefit redesign under the Inflation Reduction Act increased commercial utilization for Tyvaso DPI and Orenitram
  • Orenitram quantities sold increased by $11.7 million driven in part by IRA-related utilization
  • Total Tyvaso revenues grew 10% year-over-year to $478.0 million

“Our commercial and clinical teams continue to deliver record results, validating our strategic objectives. The breakthrough results from our TETON-2 study in idiopathic pulmonary fibrosis could significantly broaden our therapeutic reach and accelerate our growth.”

United Therapeutics CEO, on the earnings call

What Was United Therapeutics's Outlook in Q3 2025?

Management expressed confidence in sustaining the company's revenue growth trajectory. The TETON-2 study results in idiopathic pulmonary fibrosis were described as a breakthrough that could significantly broaden United Therapeutics' therapeutic reach and accelerate growth beyond its current PAH-focused portfolio.

UTHR YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$300.0M$600.0M$748.9M$799.5MRevenue$665.8M$698.6MGross Profit$343.1M$388.5MOperating Income$309.1M$338.7MNet Income
$0$300.0M$600.0MRevenueGross ProfitOperating IncomeNet Income
UTHR income statement, Q3 2025 versus Q3 2024
Metric Q3 2025 Q3 2024 Year over year
Revenue $799.5M $748.9M +6.8%
Gross Profit $698.6M $665.8M +4.9%
Operating Income $388.5M $343.1M +13.2%
Net Income $338.7M $309.1M +9.6%

UTHR Revenue by Segment

Tyvaso DPI$336.2M+22.0%
Nebulized Tyvaso$141.8M−11.0%
Remodulin$125.9M−2.0%
Orenitram$131.1M+16.0%
Unituxin$47.9M−22.0%
Adcirca$9.7M+39.0%

UTHR Revenue by Geography

United States$774.8M
Rest of World$24.7M

Figures from SEC filings and company reports. Not investment advice.