BioNTech Q4 earnings: COVID franchise to remain a notable cash contributor in 2024

BioNTech SE (NASDAQ: BNTX) is down nearly 5.0% in premarket on Wednesday after reporting disappointing financial results for the fourth quarter.

BioNTech stock down on muted guidance

The stock is being hit because $BNTX did not issue an impressive guidance either. It now expects revenue to fall between €2.5 billion and €3.1 billion ($2.71 billion to $3.36 billion) this year.

Analysts, in comparison, were at €3.44 billion instead. Prof. Ugur Sahin – the chief executive of BioNTech said in a press release today:

The biotech giant also confirmed that its COVID franchise will remain a significant cash contributor in 2024. BioNTech stock is now down over 20% year-to-date.

BioNTech Q4 earnings snapshot

• Earned €457.9 million that translates to €1.90 per share
• Had $2.28 billion in net income or $9.26 a share last year
• Revenue tanked 65.4% to €1.48 billion as per earnings report
• Consensus was €2.37 a share on €1.84 billion in revenue
• Cost of sales decline from €183.5 million to €179.1 million

BioNTech ended the fourth quarter with €17.65 billion in cash and equivalents including security investments. CEO Sahin also said on Wednesday.

Wall Street currently has a consensus “overweight” rating on BioNTech shares.