HORIZON THERAPEUTICS PUBLIC Reports Financial Results for Q2 FY2023
August 22, 2023
🌥️Earnings Overview
On June 30, 2023, HORIZON THERAPEUTICS PUBLIC ($NASDAQ:HZNP) announced their financial results for the second quarter of FY2023 which had ended on that same date. A total revenue of USD 945.0 million was reported, indicating a 7.8% increase from the same quarter in the prior year. Additionally, net income for the quarter was reported at USD 127.1 million, demonstrating a growth of 108.4% from the previous year’s corresponding period.
Market Price
The results were impressive, with the stock opening at $102.6 and closing at $104.1, up by 2.9% from its last closing price of 101.1.
Additionally, the company saw an increase in its net income, which was up by 8%. This was largely due to strong cost containment efforts, as well as a higher-than-expected tax rate. The company also benefited from an increase in royalty and other income. Additionally, Horizon Therapeutics Public saw an uptick in its operating cash flow and free cash flow, both of which were higher than anticipated. This was due to better cash management strategies and improved working capital management. The stock performance was indicative of this growth, and investors should continue to monitor the company closely as it navigates the current market conditions. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for HZNP. More…
| Total Revenues | Net Income | Net Margin |
| 3.64k | 438 | 13.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for HZNP. More…
| Operations | Investing | Financing |
| 1.04k | -142.87 | -334.43 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for HZNP. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 9.3k | 3.99k | 23.2 |
Key Ratios Snapshot
Some of the financial key ratios for HZNP are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 33.9% | 65.7% | 14.1% |
| FCF Margin | ROE | ROA |
| 24.9% | 6.2% | 3.4% |
Analysis
At GoodWhale, we have done an in-depth analysis of HORIZON THERAPEUTICS PUBLIC’s financials, and our findings reveal that it is a high risk investment in terms of financial and business aspects. We have identified three risk warnings – one in the income sheet, one in the balance sheet, and one in the non financial aspects. If you would like to know more about these warnings, please register on our website goodwhale.com. Once registered, you can view all of our detailed reports on HORIZON THERAPEUTICS PUBLIC, as well as other companies. We are sure that you will find our analysis useful in making informed decisions about investments. More…
Peers
The competition in the marketplace for Horizon Therapeutics PLC is intense with large companies such as Merck & Co Inc, AbbVie Inc, and Arrowhead Pharmaceuticals Inc all vying for a share of the market. While each company has its own strengths and weaknesses, Horizon Therapeutics PLC has been able to compete effectively by offering a differentiated product portfolio and a focus on customer service.
– Merck & Co Inc ($NYSE:MRK)
Merck & Co is a publicly traded American pharmaceutical company with a market capitalization of over $259 billion as of early 2021. The company develops and manufactures a wide range of prescription and over-the-counter medications, vaccines, and animal health products. Merck has been in operation for over a century and a half and is one of the largest pharmaceutical companies in the world. The company’s products are available in over 140 countries. Merck’s revenues totaled nearly $50 billion in 2020. The company’s return on equity was over 27% in 2020.
– AbbVie Inc ($NYSE:ABBV)
AbbVie Inc is a pharmaceutical company with a market cap of 269.09B as of 2022. It has a Return on Equity of 69.45%. The company focuses on the discovery, development, manufacture and commercialization of pharmaceutical products. Its products include Humira, an anti-inflammatory biologic medicine used to treat autoimmune diseases; and Imbruvica, a small molecule kinase inhibitor used to treat certain blood cancers and chronic lymphocytic leukemia.
– Arrowhead Pharmaceuticals Inc ($NASDAQ:ARWR)
Arrowhead Pharmaceuticals Inc is a biopharmaceutical company that focuses on the development of innovative medicines that treat intractable diseases by silencing the genes that cause them. The company’s market cap as of 2022 is 3.24B and its ROE is -22.01%. Arrowhead is headquartered in Pasadena, California.
Summary
HORIZON THERAPEUTICS PUBLIC reported strong financial results for the second quarter of FY2023, ending June 30, 2023. Total revenue increased by 7.8%, while net income saw a 108.4% jump from the same period in the previous year. This is a promising sign for investors, indicating that the company’s strategies are proving successful and providing a steady and substantial growth in revenue and profits. With such impressive performance in the second quarter, HORIZON THERAPEUTICS PUBLIC is likely to remain a strong investment opportunity in the years to come.
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