Gilead Sciences (GILD) Q3 2026 Earnings
Non-GAAP EPS excludes acquisition-related amortization ($0.37), acquisition-related other costs ($0.05), restructuring ($0.03), loss from equity securities ($0.11) and discrete tax charges ($0.05); GAAP diluted EPS was $1.94.
How Did GILD Stock React to Q3 2026 Earnings?
Did GILD Beat Earnings? Q3 2026 Results
Yes. Gilead Sciences reported Q3 2026 earnings of $2.55 a share on Oct 29, 2026, beating the $2.21 consensus estimate by 15.6%. Revenue was $8.3B against a $7.8B estimate.
Gilead Sciences delivered a standout third quarter for fiscal 2026, posting adjusted non-GAAP EPS of $2.55 against a consensus estimate of $2.21, a beat of 15.57% that extended the company's run of exceeding analyst EPS expectations to six consecutive quarters. Revenue of $8.30 billion topped the $7.81 billion consensus by 6.32% and rose 6.8% year over year, with the HIV franchise doing the heavy lifting; product sales excluding Veklury surged 16% to $8.20 billion, fueled by an 18% jump in HIV sales driven by Biktarvy, a near-doubling of prevention revenues, and the rapid commercial ramp of twice-yearly lenacapavir PrEP product Yeztugo, which generated $305 million compared with $39 million a year earlier. GAAP diluted EPS of $1.94 fell from the prior-year period, pressured by equity security losses and higher operating expenses. Encouraged by the momentum, Gilead raised its full-year 2026 product sales guidance to $31.00 billion to $31.30 billion, a cumulative $1.60 billion increase since the year began, even as large acquired IPR&D charges tied to several pipeline transactions weigh heavily on per-share GAAP and non-GAAP figures.
- HIV sales up 18% on higher average realized price, higher HIV prevention demand and favorable inventory dynamics
- Biktarvy up 10% on higher demand, higher average realized price and favorable inventory dynamics
- Descovy up 49% on higher average realized price and favorable inventory dynamics
- Liver Disease up 13% driven by Livdelzi demand and higher HCV/HBV pricing, partly offset by lower HCV demand
- Trodelvy up 42% on higher demand
- Cell Therapy down 18% on competitive headwinds
- Veklury down 69% on lower COVID-19 hospitalizations
- Royalty, contract and other revenues fell due to a prior-year IP sale that did not repeat
- Product gross margin expanded to 81.0% (non-GAAP 88.1%) on expiration of a royalty-related obligation
- GAAP EPS hurt by net losses from equity securities versus prior-year gains and a higher tax rate
“Gilead delivered an exceptional third quarter, with our strongest year-over-year base business growth in more than a decade, reflecting the strength, breadth and durability of our business.”
Gilead Sciences CEO, on the earnings call
What Is Gilead Sciences's Outlook?
Gilead raised its full-year 2026 guidance on several lines: - Product sales: $31.0–$31.3 billion (previously $30.1–$30.4 billion). - Product sales excluding Veklury: $30.7–$31.0 billion (previously $29.8–$30.1 billion). - Veklury: approximately $300 million, unchanged. Per-share guidance now calls for a GAAP diluted loss of $(4.40)–$(4.05) (previously $(3.75)–$(3.40)). The non-GAAP diluted loss is now $(1.20)–$(0.85) (previously $(0.65)–$(0.30)). Both include about $9.88 per share of acquired IPR&D charges totaling $12.4 billion, tied to the Arcellx, Tubulis, Ouro Medicines and PepStar transactions. Other projections: - Product gross margin: about 79% GAAP and about 87% non-GAAP. - Operating income: $(3,150)–$(2,750) million GAAP and $2,000–$2,400 million non-GAAP. The Biktarvy Medicare Maximum Fair Price will affect revenue starting January 1, 2028.
GILD YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $8.3B | $7.8B | +6.8% |
| Operating Income | $3.5B | $3.3B | +4.1% |
| Net Income | $2.4B | $3.1B | −20.4% |
GILD Revenue by Segment
GILD Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.