Teva Pharmaceutical Industries Limited (TEVA) Earnings
Teva Pharmaceutical Industries Limited is expected to report next earnings on July 29, 2026 (in NaN days), with a consensus EPS estimate of $0.53. TEVA has beaten EPS estimates in 10 of its last 12 reported quarters (average surprise +18.3% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 29, 2026 | $0.50 | $0.53 | +6.0% | $4.0B | +5.1% |
| Jan 28, 2026 | $0.65 | $0.96 | +47.7% | $4.7B | +21.7% |
| Nov 5, 2025 | $0.68 | $0.78 | +14.7% | $4.5B | +0.6% |
| Jul 30, 2025 | $0.63 | $0.66 | +4.8% | $4.2B | -4.3% |
| Jan 29, 2025 | $0.69 | $0.71 | +2.9% | $4.2B | +3.0% |
| Jul 31, 2024 | $0.57 | $0.61 | +7.0% | $4.2B | +1.6% |
| Jan 31, 2024 | $0.75 | $1.00 | +33.3% | $4.5B | +10.7% |
| Nov 8, 2023 | $0.60 | $0.60 | +0.0% | $3.9B | +3.1% |
| Aug 2, 2023 | $0.54 | $0.56 | +3.7% | $3.9B | +4.4% |
| Feb 8, 2023 | $0.68 | $0.71 | +4.4% | $3.9B | -0.1% |
| Nov 3, 2022 | $0.61 | $0.59 | -3.3% | $3.6B | -6.4% |
| Jul 26, 2022 | $0.57 | $0.68 | +19.3% | $3.8B | +0.3% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 29, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Pivot to growth strategy launched 3 years ago with 4 pillars: deliver growth engines, step up innovations, sustain generics powerhouse, focus business. • Acquisition of Amilex Bioscience for Ecopipan, a first-in-class asset for Tourette syndrome. • Q1 results driven by innovative portfolio strength. • Pipeline has 7 milestone readouts this year, including dubiketric maintenance data, anti-IL-15 vitiligo data in Q2, and various data in H2. • Generics business performing as planned with biosimilar portfolio driving growth in US. • R&D highlights include EU submission for Olanzapine LAI, completion of enrollment in DARI phase three program, positive maintenance data for Duva-Ketog, and progress on anti-IL-15 and MROSOMIN programs.
Guidance
• Reiterated 2027 financial targets: revenue mid-single digit, non-GAAP operating income 30%, net debt EBITDA less than 2, cash to earnings 80%. • MLX acquisition expected to be accretive to NAND gap EPS starting in 2028. • 2026 outlook: reaffirmed underlying financial metrics range, expected operating expenses towards higher end of 27-28% of revenue range, non-GAAP gross margin in 54.5%-55.5% range, free cash flow guidance range $2B-$2.4B remains unchanged. • Board instructed management to plan for share repurchase program subject to legal requirements.
Segment performance
Revenue was $4 billion, down 1% year-over-year. Adjusted EBITDA was $1.1 billion, up 2%. Non-GAAP EPS was $0.53%, up 2%. Free cash flow was $200 million, up 76%. Net debt to EBITDA was 2.42. Innovative portfolio grew 41%. Esteto grew 41% to $578 million. Yasedi grew 62% to $63 million. JV grew 35% to $196 million. Generics revenue was down 13% excluding Japan and generic Revlimid. Biosimilar portfolio is emerging with 11 products on market, 4 more to cover $16B originator sales by 2027, and 9 more to cover $58B by then.
Risks & headwinds
• Forward-looking statements involve risks and uncertainties due to factors described in earnings press release, 10Q, and 10K. • Geopolitical situation in Middle East monitored, but operations remain uninterrupted with no material impact on 2026 guidance as of now.
Analyst Q&A
Q: Louise Chen asked about Amilex acquisition synergies with CNS franchise and peak sales potential.
A: Ecopipan has significant unmet medical need in pediatric Tourette's. Synergies in patient services, managed markets, etc. Peak sales potential based on unmet need.
Q: Glenn Santangelo asked about reconciling innovative portfolio growth and 2027 low single-digit growth expectation.
A: Timing and impact of IRA on Esteto, need to see more quarters for other growth drivers.
Q: Matt Delatorre asked about capital allocation and branded pipeline.
A: Free cash flow strong, plan to allocate for BD, share repurchases, debt pay down. Duva-Keto has potential across indications.
Q: Dennis Ding asked about Amilex transaction adult population and pricing.
A: Ecopipan is pediatric treatment, pricing within orphan/rare range.
Q: Jason Gerbery asked about generics pipeline and IL-15 regulatory path.
A: Can't comment on generic pipeline. IL-15 accelerated path due to execution confidence.
Q: Uma Rafat asked about MLX patent and FDA feedback.
A: Ecobipam expected orphan drug exclusivity, FDA feedback positive on study data.
Q: David Amselem asked about MLX REMS and M&A strategy.
A: No REMS expected for MLX. M&A strategy: neuroscience inorganically, immunology organically.
Q: Chris Schott asked about MLX ramp and Esteto quarterly dynamics.
A: No peak sales guidance, Esteto destocking impact on Q2-Q3.
Q: Ash Verma asked about 700M BD payout and Middle East geopolitics.
A: No impact on investor-grade debt timeline. Middle East impact minimal.
Q: Les Salewski asked about IL-15 confidence and competition.
A: IL-15 program data competitive with systemic treatments.