Regeneron Pharmaceuticals

REGN · Biopharma sector group

Guidance from Regeneron Pharmaceuticals’s last 8 earnings releases. Every value links to its sentence in the filing. See something wrong? Tell us.

Current guidance

13 items

Releases tracked

Latest release

Jul 30, 2026

Data checked

Jul 30, 2026

On this page:Latest changes·Current guidance·Your sector group·History

What changed in the Jul 30, 2026 release

Each item compared with the same item in the previous release (Apr 29, 2026). Values in quotation marks are the company’s words.

New — first stated in this releaseRaised / Lowered / Narrowed / Widened — changed from the prior releaseRevised — wording changed, direction not determinableChanged — value changed; the comparison couldn’t be parsed to a directionReiterated — restated unchangedNot restated — stated before, absent nowRaised and lowered describe the number, not whether the change is favorable.

Change	Metric	Period	Previous	Now	Source
Raised	GAAP gross margin on net product sales	for FY2026	“77%–78%”	“78%–79%”	Filing ↗
Raised	Non-GAAP gross margin on net product sales	for FY2026	“83%–84%”	“84%–85%”	Filing ↗
Lowered	Capital expenditures	for FY2026	“$1.100–$1.200 billion”	“$1.030–$1.100 billion”	Filing ↗
Narrowed	GAAP COCM	for FY2026	“$955 million–$1.035 billion”	“$985 million–$1.035 billion”	Filing ↗
Narrowed	GAAP effective tax rate	for FY2026	“12%–14%”	“13%–14%”	Filing ↗
Narrowed	GAAP R&D	for FY2026	“$6.450–$6.680 billion”	“$6.500–$6.635 billion”	Filing ↗
Lowered	GAAP SG&A	for FY2026	“$2.860–$3.040 billion”	“$2.830–$2.960 billion”	Filing ↗
Narrowed	Non-GAAP COCM	for FY2026	“$940 million–$1.020 billion”	“$970 million–$1.020 billion”	Filing ↗
Narrowed	Non-GAAP effective tax rate	for FY2026	“13%–15%”	“14%–15%”	Filing ↗
Narrowed	Non-GAAP R&D	for FY2026	“$5.900–$6.100 billion”	“$5.950–$6.050 billion”	Filing ↗
Narrowed	Non-GAAP SG&A	for FY2026	“$2.500–$2.650 billion”	“$2.500–$2.600 billion”	Filing ↗
Lowered	GAAP gross margin on net product sales	No period stated	“79%–80%”	“77%–78%”	Filing ↗
Lowered	Non-GAAP gross margin on net product sales	No period stated	“86%–87%”	“83%–84%”	Filing ↗
Narrowed	Capital expenditures	No period stated	“$1.100–$1.300 billion”	“$1.100–$1.200 billion”	Filing ↗
New	GAAP COCM	No period stated	—	“$955 million–$1.035 billion”	Filing ↗
Raised	GAAP effective tax rate	No period stated	“9%–11%”	“12%–14%”	Filing ↗
Raised	GAAP R&D	No period stated	“$5.660–$5.790 billion”	“$6.450–$6.680 billion”	Filing ↗
Raised	GAAP SG&A	No period stated	“$2.810–$2.940 billion”	“$2.860–$3.040 billion”	Filing ↗
New	Non-GAAP COCM	No period stated	—	“$940 million–$1.020 billion”	Filing ↗
Raised	Non-GAAP effective tax rate	No period stated	“11%–13%”	“13%–15%”	Filing ↗
Raised	Non-GAAP R&D	No period stated	“$5.100–$5.200 billion”	“$5.900–$6.100 billion”	Filing ↗
Raised	Non-GAAP SG&A	No period stated	“$2.450–$2.550 billion”	“$2.500–$2.650 billion”	Filing ↗

Show 4 items not restated in this release

Change	Metric	Period	Previous	Now	Source
Not restated	GAAP R&D expense	for FY2026	“~$6.5 billion”	—	Filing ↗
Not restated	Non-GAAP R&D spend expected in 2026	for FY2026	“$7B+”	—	Filing ↗
Not restated	COCM	No period stated	“$1.000–$1.050 billion”	—	Filing ↗
Not restated	Investment committed to U.S. manufacturing and R&D infrastructure expansion	No period stated	“~$6B”	—	Filing ↗

Current guidance

Guidance for periods that have not yet ended, at its most recent value, grouped by horizon.

Current fiscal year

Metric	Current value	Period	Measure	First stated	Times stated	Source
GAAP gross margin on net product sales	“78%–79%”	for FY2026	GAAP-tied	Apr 29, 2026	2	Filing ↗
Non-GAAP gross margin on net product sales	“84%–85%”	for FY2026	Company-defined	Apr 29, 2026	2	Filing ↗
Capital expenditures	“$1.030–$1.100 billion”	for FY2026	Company-defined	Apr 29, 2026	2	Filing ↗
Cash dividend declared	“$0.94 per share”	for FY2026	Declared action	Apr 29, 2026	1	Filing ↗
Cash dividend declared per share	“$0.94”	for FY2026	Declared action	Jul 30, 2026	1	Filing ↗
GAAP COCM	“$985 million–$1.035 billion”	for FY2026	Company-defined	Apr 29, 2026	2	Filing ↗
GAAP effective tax rate	“13%–14%”	for FY2026	GAAP-tied	Apr 29, 2026	2	Filing ↗
GAAP R&D	“$6.500–$6.635 billion”	for FY2026	Company-defined	Apr 29, 2026	2	Filing ↗
GAAP R&D expense	“~$6.5 billion”	for FY2026	Company-defined	Jan 12, 2026	1	Filing ↗
GAAP SG&A	“$2.830–$2.960 billion”	for FY2026	Company-defined	Apr 29, 2026	2	Filing ↗
Non-GAAP COCM	“$970 million–$1.020 billion”	for FY2026	Company-defined	Apr 29, 2026	2	Filing ↗
Non-GAAP effective tax rate	“14%–15%”	for FY2026	Company-defined	Apr 29, 2026	2	Filing ↗
Non-GAAP R&D	“$5.950–$6.050 billion”	for FY2026	Company-defined	Apr 29, 2026	2	Filing ↗
Non-GAAP R&D spend expected in 2026	“$7B+”	for FY2026	Company-defined	Jan 12, 2026	1	Filing ↗
Non-GAAP SG&A	“$2.500–$2.600 billion”	for FY2026	Company-defined	Apr 29, 2026	2	Filing ↗

No period stated

Metric	Current value	Period	Measure	First stated	Times stated	Source
Cash dividend	“$0.94 per share”	—	Declared action	Apr 29, 2025	5	Filing ↗
New share repurchase program authorization	“up to an additional $3.0 billion”	—	Declared action	Apr 29, 2025	1	Filing ↗
Remaining share repurchase authorization	“$2.156 billion”	—	Declared action	Oct 28, 2025	1	Filing ↗
Share repurchase program authorized	“$3.0 billion”	—	Declared action	Apr 29, 2026	1	Filing ↗

How one item moved

GAAP gross margin on net product sales, No period stated — every statement across the year, each linked to its filing.

Oct 31, 2024

New

“Approximately 86%”

Filing ↗

Apr 29, 2025

Lowered

“84%–85%”

Filing ↗

Aug 1, 2025

Lowered

“83%–84%”

Filing ↗

Oct 28, 2025

Lowered

“Approximately 83%”

Filing ↗

How your Biopharma sector group guides

12 companies in Biopharma. What they guide on, and who reported this season.

Most-guided metric families

Revenue

Adjusted EPS

GAAP EPS

Tax rate

Buybacks

Gross margin

Capex

Dividends

This season’s releases

BioMarin Pharmaceutical	Aug 6, 2026	19 changes
Halozyme Therapeutics	Aug 6, 2026	6 changes
Eli Lilly	Aug 5, 2026	5 changes
Amgen	Aug 4, 2026	5 changes
Gilead Sciences	Aug 4, 2026	15 changes
Moderna	Jul 31, 2026	8 changes
Neurocrine Biosciences	Jul 30, 2026	16 changes
Regeneron Pharmaceuticals	Jul 30, 2026	22 changes

See the full Biopharma sector group →

Get this for your own peer set — Peer Guidance Briefing, $3,000.

Full history

Every metric, every release, eight quarters — the complete record as one table.

Metric	FY2026	FY2025	FY2024	No period
GAAP gross margin on net product sales	2 statements	3 statements	1 statement	6 statements
Non-GAAP gross margin on net product sales	2 statements	3 statements	1 statement	4 statements
Capital expenditures	2 statements	3 statements	1 statement	6 statements
Cash dividend	—	—	—	5 statements
Cash dividend declared	1 statement	1 statement	—	—

The full record for Regeneron Pharmaceuticals and its Biopharma peers, delivered as a Peer Guidance Briefing — PDF and Excel, every value linked to its filing.

See the full history table Request a peer briefing

Filings

The 8 earnings releases this page is built from.

Filed	Fiscal period	Accession	Guidance items
Jul 30, 2026	FY2026 Q2	0000872589-26-000023	24	Open filing ↗
Apr 29, 2026	FY2026 Q1	0000872589-26-000014	16	Open filing ↗
Jan 12, 2026	FY2025 Q4	0001104659-26-002691	3	Open filing ↗
Oct 28, 2025	FY2025 Q3	0000872589-25-000026	21	Open filing ↗
Aug 1, 2025	FY2025 Q2	0000872589-25-000017	21	Open filing ↗
Apr 29, 2025	FY2025 Q1	0001804220-25-000020	17	Open filing ↗
Jan 13, 2025	FY2024 Q4	0001104659-25-002826	0	Open filing ↗
Oct 31, 2024	FY2024 Q3	0001804220-24-000038	20	Open filing ↗

Values in quotation marks are the company’s words; the classification and filing links are HighGravityData’s. HighGravityData does not score or rank companies or give investment advice.

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