BioMarin Pharmaceutical (NASDAQ: BMRN) was a lively stock in the best way on Thursday following the release of its latest set of quarterly results. Enthusiastic investors traded the company's shares up by nearly 5% in price, contrasting quite sharply with the 0.4% decline of the S&P 500 index on the day.
A pair of crushing beats
Those results were published just after market hours on Wednesday, and they showed that the company's revenue reached $747 million for its fourth quarter of 2024. That was a beefy (16%) increase over the same period of the previous year. More impressively, non-GAAP (adjusted) net income nearly doubled, coming in at $180 million ($0.92 per share) against the year-ago profit of $95 million.
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Both headline numbers obliterated analyst estimates. Collectively, pundits tracking BioMarin's stock were estimating the company would earn a bit over $711 million and post an adjusted net income of only $0.55.
BioMarin attributed the far better-than-expected gains to rising demand for the company's enzyme therapies throughout the world. It also benefited from large-scale government orders.
Driving forward in '25
Management also proffered guidance for the entirety of 2025. BioMarin believes its total revenue will come in at $3.1 billion to $3.2 billion, and adjusted net income will tally $4.20 to $4.40 per share. The consensus analyst estimates for the two line items are, respectively, $3.1 billion and $4.16.
BioMarin is one of those effective drug producers that have developed a strong product lineup, and is clearly skilled at marketing and selling medications. The company is facing a prosperous 2025, meanwhile, so its future looks good too.
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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends BioMarin Pharmaceutical. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
