Regeneron Pharmaceuticals (NASDAQ:REGN) Q3 2025 Earnings Beat Estimates

Regeneron Pharmaceuticals (NASDAQ:REGN) has reported its financial results for the third quarter of 2025, delivering a performance that surpassed analyst expectations on profitability. The company's latest earnings release provides a detailed look at its current financial health and future trajectory.

Quarterly Financial Performance

The biotechnology company posted total revenues of $3.75 billion for the quarter, representing a modest 1% increase compared to the same period in 2024. This figure narrowly exceeded analyst estimates, which had projected revenue of approximately $3.66 billion. The company's earnings performance proved more robust, with non-GAAP earnings per share reaching $11.83. This significantly outpaced the consensus estimate of $9.78 per share among analysts.

Key financial metrics from the quarter include:

• Total Revenue: $3.75 billion (estimated $3.66 billion)
• Non-GAAP EPS: $11.83 (estimated $9.78)
• GAAP Net Income: $1.46 billion, a 9% increase year-over-year
• Collaboration Revenue from Sanofi: $1.62 billion, driven by higher Dupixent profits

Market Reaction and Price Movement

Investors responded positively to the earnings beat, particularly the strong outperformance on earnings per share. In pre-market trading following the announcement, Regeneron shares advanced approximately 4.6%, indicating strong investor approval of the quarterly results. This positive momentum builds on recent gains, with the stock having risen nearly 5% over the past two weeks and about 4.4% over the past month, suggesting growing investor confidence ahead of the earnings release.

Product Portfolio and Pipeline Developments

The earnings report highlighted several important developments across Regeneron's product portfolio. Dupixent, the company's flagship immunology drug, continues to demonstrate strong growth with global net sales recorded by partner Sanofi increasing 27% to $4.86 billion. The company's oncology drug Libtayo showed particular strength, with global sales rising 26% to $365 million, bolstered by a new FDA approval as an adjuvant treatment for cutaneous squamous cell carcinoma.

The EYLEA franchise presented a mixed picture, with the newer high-dose formulation EYLEA HD showing a 10% increase in U.S. sales to $431 million, while the original EYLEA formulation experienced a 41% decline in U.S. sales to $681 million. The combined EYLEA franchise U.S. sales totaled $1.11 billion, representing a 28% decrease from the prior year, reflecting market share pressures and patient transitions to the newer formulation.

Regeneron's pipeline also showed significant progress with multiple regulatory milestones and clinical trial successes across various therapeutic areas, including positive Phase 3 results in generalized myasthenia gravis, fibrodysplasia ossificans progressiva, and allergy treatments.

Financial Position and Capital Allocation

The company maintained a strong financial position, reporting $18.73 billion in cash and marketable securities as of September 30, 2025. During the quarter, Regeneron continued its commitment to shareholder returns, repurchasing $663 million of common stock and declaring a quarterly cash dividend of $0.88 per share. The company also noted it had returned over $3 billion to shareholders through repurchases and dividends in the first nine months of 2025.

Looking Ahead

While the company did not provide specific revenue guidance for the coming quarters in its press release, analysts currently project fourth-quarter 2025 revenue of approximately $3.71 billion and full-year 2025 revenue of around $14.14 billion. The company did update its full-year expense guidance, narrowing ranges for research and development and selling, general, and administrative expenses while maintaining its non-GAAP gross margin guidance of approximately 86% on net product sales.

For more detailed earnings information and future estimates, readers can review the earnings and estimates page for REGN.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. The information presented should not be interpreted as a recommendation to buy or sell any security. Readers should conduct their own research and consult with a qualified financial advisor before making any investment decisions.