Press release
United Therapeutics Corporation Reports First Quarter 2024 Financial Results
SILVER SPRING, Md. & RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)-- United Therapeutics Corporation (Nasdaq: UTHR), a public benefit corporation, today
About this update from United Therapeutics Corporation
[{"type":"text","content":" SILVER SPRING, Md. & RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--\nUnited Therapeutics Corporation (Nasdaq: UTHR), a public benefit corporation, today announced its financial results for the quarter ended March 31, 2024. Total revenues in the first quarter of 2024 grew 34 percent year-over-year to $677.7 million, compared to $506.9 million in the first quarter of 2023.\n\n\n“The first quarter of 2024 represents another quarter of record revenue and double-digit year-over-year revenue growth,” jointly said Martine Rothblatt, Ph.D., Chairperson and Chief Executive Officer and Michael Benkowitz, President and Chief Operating Officer. “That growth, coupled with our upcoming clinical reads, puts us in a unique position in the biotech industry: a company with a solid and growing commercial foundation, near-term clinical catalysts, and the potential to provide an unlimited supply of tolerable, transplantable organs.”\n\n\n“Our distinctive commercial and clinical profile, alongside our solid balance sheet and cash flow potential, makes United Therapeutics a compelling investment opportunity,” said James Edgemond, Chief Financial Officer and Treasurer. “That’s why we implemented a $1 billion accelerated share repurchase that concretely demonstrates our belief in our near-term and long-term potential, despite potential competition emerging this year.”\n\n\nFirst Quarter 2024 Financial Results\n\n\nKey financial highlights include (dollars in millions, except per share data):\n\n\n\n\n \n\n\n\n\n\n\nThree Months Ended\nMarch 31,\n\n\n\n\n\n\n \n\n\n\n\n\n\nDollar\nChange\n\n\n\n\n\n\n \n\n\n\n\n\n\nPercentage\nChange\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n2024\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nTotal revenues\n\n\n\n\n\n\n$\n\n\n\n\n\n\n677.7\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n506.9\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n170.8\n\n\n\n\n\n\n \n\n\n\n\n\n\n34 %\n\n\n\n\n\n\n\n\nNet income\n\n\n\n\n\n\n$\n\n\n\n\n\n\n306.6\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n240.9\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n65.7\n\n\n\n\n\n\n \n\n\n\n\n\n\n27 %\n\n\n\n\n\n\n\n\nNet income, per basic share\n\n\n\n\n\n\n$\n\n\n\n\n\n\n6.52\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n...