BioNTech's first-quarter revenue tripled on the back of its Pfizer-partnered Covid vaccine, leading BNTX stock to pop Monday.
March-quarter sales were 6.37 billion euros, skyrocketing 211% year over year. Based on today's exchange rate, that comes out to about $6.75 billion, which obliterated forecasts for $4.59 billion, according to FactSet.
Adjusted earnings surged 224% to 14.24 euros per share, or roughly $15.07. That handily beat expectations for $9.70 a share.
BioNTech guided to 13 billion to 17 billion euros for sales of its Covid shot this year. That comes out to about $13.74 billion to $17.96 billion in sales, while BNTX stock analysts predicted $17.35 billion.
Chief Financial Officer Jens Holsten says BioNTech is "well-positioned" to achieve the 2022 guidance it issued earlier this year.
"We believe the global deployment of our vaccine has likely saved millions of lives and had a significant impact on humanity," he said in a written statement. "As a result of an increased order volume initially placed in late 2021 following the then-emerging omicron variant, we began the year 2022 with strong revenues and earnings."
On today's stock market, BNTX stock rose 3.1% to 140.32. Shares of partner Pfizer, on the other hand, fell a fraction to 48.64.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
