Vertex Pharmaceuticals Inc
Q2 2026 Earnings
Market Reaction
Did VRTX Beat Earnings? Q2 2026 Results
Vertex Pharmaceuticals delivered a mixed but broadly strong second quarter for fiscal 2026, with revenue clearing Wall Street's bar even as earnings came in just shy of expectations, <a href="https://247wallst.com/investing/2026/08/03/live-will-tonights-q2-earnings-report-send-vertex-pharmaceuticals-higher/">a result investors had been watching closely</a> after shares fell roughly 10% in the weeks leading up to the report. Total revenue rose 12.4% year-over-year to $3.33 billion, beating the $3.22 billion consensus by 3.43%, while adjusted EPS of $4.73 missed the $4.75 estimate by a narrow 0.32%. The headline growth was anchored by the cystic fibrosis franchise, where TRIKAFTA/KAFTRIO contributed $2.50 billion and the newer ALYFTREK added $573.60 million as global reimbursement expanded to 25 countries. Non-CF products are increasingly in the mix as well, with CASGEVY revenue up 151% year-over-year to $76.40 million and JOURNAVX reaching $49.60 million after more than quadrupling from a year ago. Management raised full-year 2026 revenue guidance to $13.10 billion to $13.20 billion, citing CF momentum and at least $500 million in non-CF product revenue, while the pending $10 billion acquisition of Crinetics Pharmaceuticals was not incorporated into the updated outlook.
- Continued strong CF patient demand and new ALYFTREK initiations
- Higher realized net CF prices versus prior year
- CASGEVY revenue growth of 151% YoY and 78% quarter-over-quarter
- JOURNAVX revenue more than quadrupled YoY with approximately 535,000 Q2 prescriptions
- Favorable foreign exchange impact on ex-U.S. revenue
- ALYFTREK reimbursement expansion to 25 countries
“Vertex delivered excellent second quarter results, expanding our leadership in cystic fibrosis; delivering strong revenue growth in sickle cell disease, beta thalassemia, and acute pain; and with the pending acquisition of Crinetics, adding rare endocrine diseases as our fifth pillar, further diversifying our portfolio.”
Vertex Pharmaceuticals CEO, on the earnings call
Forward Guidance & Outlook
Vertex raised its full-year 2026 total revenue guidance to $13.1 billion to $13.2 billion from $12.95 billion to $13.1 billion previously. The guidance embeds expectations for continued CF growth including global ALYFTREK and TRIKAFTA uptake, and $500 million or more in revenue from non-CF products (CASGEVY and JOURNAVX). Revenue guidance reflects an approximately 150 basis point year-over-year benefit from foreign exchange. Combined GAAP R&D, AIPR&D and SG&A expense guidance is unchanged at $6.3 billion to $6.45 billion, and non-GAAP at $5.65 billion to $5.75 billion. Tariff cost impact is expected to be immaterial in 2026. This guidance does not reflect the pending Crinetics acquisition, which is expected to close in Q3 2026; updated guidance will be provided following transaction close.
VRTX YoY Financials
VRTX Revenue by Segment
VRTX Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.