10-Q · August 3, 2026
Jazz delivered Q2 revenue of $1.2083B, up 16% year over year and 13% sequentially, with gross margin expanding 150 basis points year over year to 90.4% and operating margin rebounding to 20.5% from -65.6%. Growth was…
Earnings analysis · 10-Q
JAZZ earnings analysis
Filed November 2, 2026 · Our reading of the company's report
The latest report
Jazz reported Q3 revenue of $1.243 billion, up from $1.21 billion in Q2 2026 and $1.13 billion in Q3 2025, and above the approximately $1.212 billion consensus estimate. However, GAAP EPS fell to a $7.48 loss from…
Read full summary
Jazz reported Q3 revenue of $1.243 billion, up from $1.21 billion in Q2 2026 and $1.13 billion in Q3 2025, and above the approximately $1.212 billion consensus estimate. However, GAAP EPS fell to a $7.48 loss from positive EPS of $2.78 in Q2 and $4.08 in the prior-year quarter, primarily reflecting the $754.2 million Actio-related IPR&D charge. The company raised full-year 2026 revenue guidance to $4.775 billion-$4.850 billion, but the Actio acquisition introduces substantial execution, development, and litigation risks.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-7.48
What stood out
-
Revenue exceeded consensus
Q3 revenue was $1.243 billion, up approximately 2.7% from $1.21 billion in Q2 2026 and approximately 10.0% from $1.13 billion in Q3 2025. Revenue exceeded the approximately $1.212 billion consensus estimate.
-
Full-year revenue outlook raised
Full-year 2026 revenue guidance was raised to $4.775 billion-$4.850 billion from $4.600 billion-$4.750 billion, increasing both the low end by $175 million and the high end by $100 million.
-
Actio acquisition adds pipeline asset
The company completed the Actio Acquisition on September 15, 2026, for an upfront payment of $820.0 million net of cash acquired, adding ABS-1230 (JZP6979) to its portfolio.
-
Controls remained effective
Disclosure controls and procedures were concluded to be effective as of September 30, 2026, with no material changes to internal control over financial reporting during the quarter.
-
New $500 million repurchase authorization
The company purchased 902,563 ordinary shares in August 2026 at an average price of $249.29 per share, and its board approved a new $500.0 million repurchase program in October 2026.
What to watch
-
Large Actio-related charge drove loss
The Q3 results included a $754.2 million Actio-related IPR&D charge, contributing to GAAP EPS of negative $7.48 versus positive $2.78 in Q2 2026 and positive $4.08 in Q3 2025.
-
Actio investment may not pay off
The company paid $820.0 million upfront for Actio, with potential additional regulatory and commercial milestone payments of up to $500.0 million, or total potential consideration of $1.3 billion. The acquired ABS-1230 asset may not be successfully developed, approved, or commercialized.
-
Assumed Praxis IP litigation
Jazz assumed Praxis trade-secret and breach-of-contract litigation in connection with the Actio Acquisition; trial is scheduled to begin July 31, 2028. An unfavorable outcome could require damages, licensing, an injunction, or assignment of intellectual property affecting ABS-1230.
-
Higher expense and tax outlook
Management raised GAAP SG&A guidance to $1.544 billion-$1.597 billion from $1.506 billion-$1.556 billion and increased the effective tax-rate outlook to 20%-30% from 0%-10%, indicating higher expected expense and tax pressure.
Management's outlook
Full-year 2026 revenue guidance was raised to $4.775 billion-$4.850 billion from $4.600 billion-$4.750 billion. GAAP SG&A guidance increased to $1.544 billion-$1.597 billion from $1.506 billion-$1.556 billion, and GAAP effective tax-rate guidance increased to 20%-30% from 0%-10%.
Earlier filings 4
10-Q · May 5, 2026
Jazz Pharmaceuticals reported solid Q1 2026 results, with revenues reaching $1.1 billion, a 19% increase year-over-year, and EPS of $4.43, slightly beating estimates. The significant growth was driven primarily by…
10-K · April 24, 2026
Jazz reported a record 2025 commercial year driven by core franchises — Xywav ($1,657.0M) and Epidiolex/Epidyolex ($1,059.2M) — and delivered positive pipeline and regulatory milestones (Ziihera EC conditional…
10-K · February 24, 2026
Jazz Pharmaceuticals reports modest annual revenue growth to ~$4.28B in 2025 driven by higher quarterly sales (Q4 2025 $1.20B) and new product launches/approvals (Ziihera, Modeyso, Zepzelca label expansion). Results…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.