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Research Alert: Gild Q1: Strong Hiv And Oncology Growth, Cut Eps Guidance Disappoints

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-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

GILD delivered strong Q1 2026 results above expectations, with total revenues of $7.0B (+4% Y/Y) and non-GAAP EPS of $2.03 (+12% Y/Y), demonstrating robust momentum across its core HIV franchise. Product sales excluding Veklury grew 8% Y/Y to $6.8B, indicating solid underlying business performance despite the anticipated 52% decline in Veklury sales to $144M. The HIV franchise continued as GILD's primary growth engine with Q1 sales of $5.0B (+10% Y/Y), led by Biktarvy's $3.4B (+7% Y/Y) and Descovy's strong 38% Y/Y growth to $807M, while the successful Yeztugo launch contributed $166M. GILD raised full-year 2026 product sales guidance to $30.0B-$30.4B but sharply lowered its EPS guidance due to $11.5B acquired IPR&D charges from strategic acquisitions. We believe the company's strategic investments in pipeline expansion through the Arcellx, Ouro, and Tubulis transactions position GILD well for long-term growth despite near-term EPS headwinds from acquisition-related charges.

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