Incyte Corporation (INCY) Earnings
Incyte Corporation is expected to report next earnings on August 4, 2026 (in NaN days), with a consensus EPS estimate of $1.82. INCY has beaten EPS estimates in 6 of its last 12 reported quarters (average surprise +14.1% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 28, 2026 | $1.38 | $1.81 | +31.2% | $1.3B | +4.7% |
| Oct 28, 2025 | $1.66 | $2.26 | +36.1% | $1.4B | +0.9% |
| Jul 29, 2025 | $1.39 | $1.57 | +12.9% | $1.2B | -3.3% |
| Apr 30, 2024 | $0.84 | $0.64 | -23.8% | $881M | -4.4% |
| Feb 13, 2024 | $1.16 | $1.06 | -8.6% | $1.0B | +1.1% |
| Oct 31, 2023 | $1.09 | $1.10 | +0.9% | $919M | -5.0% |
| Aug 1, 2023 | $0.83 | $0.99 | +19.3% | $955M | +4.9% |
| May 2, 2023 | $0.85 | $0.37 | -56.5% | $809M | -5.7% |
| Feb 7, 2023 | $0.59 | $0.62 | +5.1% | $927M | +5.5% |
| Nov 1, 2022 | $0.72 | $0.60 | -16.7% | $823M | -2.3% |
| Aug 2, 2022 | $0.79 | $1.01 | +27.8% | $911M | +11.4% |
| May 3, 2022 | $0.57 | $0.55 | -3.5% | $733M | -2.2% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 28, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Bill mentioned 2026 as a year of strategic progress to transition Insight beyond a single cornerstone product. FDA accepted regulatory application for povacitinib in patients with moderate to severe HS. Pablo discussed progress in hematology, oncology, and immunology, including phase III study plan for 989, initiation of phase III study for 734, and positive results of povacitinib in vitiligo. Management made several executive appointments, strengthening the team.
Guidance
Total net sales guidance for full year 2026 is $4.77 to $4.94 billion. Jackify net sales expectation is $3.22 to $3.27 billion. Opsalura net sales expectation is $0.75 to $0.79 billion. Hematology and oncology products net sales expectation is $0.8 to $0.88 billion. Total R&D and SG&A operating expenses are expected to be $3.495 to $3.675 billion for full year.
Segment performance
Total revenue in the first quarter of 2026 was $1.27 billion, up 21% over prior year. Net sales in the first quarter totaled $1.1 billion, representing 20% growth year over year. Jackify sales in the first quarter were $758 million, up 7% year-over-year. Sales for core business excluding Jackify were up 63% year-over-year. Opsalor continues to be the largest single contributor to core business, X-Jackify, with sales of $143 million, up 20% versus prior year. In U.S., sales were $106 million, an increase of 12% versus first quarter of 2025. Internationally, sales in Vitiligo totaled $37 million, up 56% year-over-year. Net sales in hematology and oncology grew 116% to $204 million. Nictimbo, Monjuvi, and Zinus were the largest contributors to growth in the quarter.
Risks & headwinds
No specific detailed discussion of risks in the transcript.
Analyst Q&A
Q: Congrats on the positive data for POVOR for non-segmentals at Oligo. What's your thoughts on next step and coexistence with Opsalura?
A: Thanks, Tazina. Bill and Mohamed discussed opportunity with FDA approvals, medicalizing vitiligo, Insight's advantage with topical to oral solution, and patient segments for Opsalura and POVO.
Q: Will 989's EHA update be mostly check-the-box or have new wrinkles?
A: Pablo said update will be substantial with continued enrollment, longer follow-up, deeper translational understanding.
Q: Congrats on securing 24-week DCHR endpoint in pivotal ET trial. Details on dose escalation and MF indication?
A: Pablo explained flexible dose escalation in ET, constructive FDA interactions, and implications for MF indication.
Q: Confirm 734 studies resumed enrollment after pneumonitis pause. Is pneumonitis a exclusion criteria?
A: Matt said phase three study never paused, phase one enrollment on hold for administrative reasons, no signal of 734 causing pneumonitis.
Q: On Opsalura, comment on competition and importance of POVO approval.
A: Judah was told Opsalura has potential growth components, organic growth, launch of HS indication, Europe launch, and POVO approval adds to tool bag.
Q: On povacitinib in HF, where expected earliest uptake?
A: Bill and Mohamed said earliest uptake in biologic naive, postbiologic failures, patients with specific disease features.
Q: RUX mutant-CalR combo first-line data year-end, synergy and mutant CalR fitting?
A: Pablo said preclinically additive to synergistic effects, 989 different from JAK-FI in MF, showing disease-modifying potential.
Q: 989 sub-Q form, observations and scope in phase one study?
A: Pablo said data from healthy volunteer study allows quick move to patients, testing broad dose range, plan to incorporate sub-Q in first-line MF study.
Q: Potential translatability of ET design to MF for 989?
A: Jess was told journey in MF is earlier, need constructive dialogue with FDA on primary endpoint and design.