SHARPE
Reported results
- Total product sales increased 13% to $8.3 billion in the third quarter of 2026 compared to $7.3 billion in the third quarter of 2025.
- Diluted EPS was $1.94 in the third quarter of 2026 compared to $2.43 in the third quarter of 2025.
- Non-GAAP diluted EPS was $2.55 in the third quarter of 2026 compared to $2.47 in the third quarter of 2025.
- Product gross margin was 81.0% in the third quarter of 2026 compared to 78.6% in the third quarter of 2025.
- Non-GAAP product gross margin was 88.1% in the third quarter of 2026 compared to 86.5% in the third quarter of 2025.
- HIV product sales increased 18% to $6.2 billion in the third quarter of 2026 compared to the same period in 2025.
Guidance
- For full year 2026, product sales are expected to be between $31,000 million and $31,300 million.
- For full year 2026, product sales excluding Veklury are expected to be between $30,700 million and $31,000 million.
- For full year 2026, Veklury sales are expected to be approximately $300 million.
- For full year 2026, diluted loss per share is expected to be between $(4.40) and $(4.05).
- For full year 2026, non-GAAP diluted loss per share is expected to be between $(1.20) and $(0.85).
Price and volatility reaction
The stock moved +3.1% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -2.4 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 165.61 | 2026-10-29 |
| Close after release | 170.68 | 2026-10-30 |
| Realised move | +3.1% | close to close |
| 30d ATM IV change | -2.4 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-10-29 (8-K, Item 2.02). Read the original filing on sec.gov.