Gilead Q3 2026: sales up 13%, non-GAAP EPS $2.55 beats, guidance raised
Gilead's base business is growing faster than it has in a decade, and management raised full-year sales guidance again, to a $31.15 billion midpoint — that, not the GAAP loss, is the quarter's story. Revenue rose 7.0% to $8.30 billion, product sales excluding Veklury climbed 16.0%, and non-GAAP EPS of $2.55 beat the $2.23 consensus. Read on for the growth engine, the accounting drag in guidance, and how much of the company still rests on HIV.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS fell to $1.94 from $2.43, dragged by a $164 million loss on equity securities versus a $483 million gain a year earlier, plus a higher effective tax rate of 20.7% against 16.2%. Non-GAAP EPS, which strips those items out, rose to $2.55 from $2.47 and beat the $2.23 consensus by $0.32. Net income of $2.43 billion was down from $3.05 billion on the same equity-securities swing.
Total revenue rose 7.0% to $8.30 billion from $7.77 billion a year earlier, but the headline understates the core: product sales were $8.29 billion, up 13.0%, and sales excluding Veklury rose 16.0% to $8.20 billion. The gap comes from royalty, contract and other revenue, which fell to $11 million from $424 million because a prior-year intellectual property sale did not repeat. Veklury contributed just $86 million, down 69.0%.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-03
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