How did LGND's Q4 earnings surprise investors?

Ligand Pharmaceuticals Inc (LGND) did not experience a positive earnings surprise in Q4. In fact, the company's Q4 earnings fell below market expectations. Here are the details: 1. **Q4 Earnings Performance**: Ligand Pharmaceuticals reported an adjusted earnings per share (EPS) of $1.84 for the quarter ended September 30, 2024. This was a notable improvement from the same quarter the previous year, when the company reported EPS of $1.02. However, this did not meet the expectations of eight analysts who had forecasted an EPS of $1.35 for the quarter. 2. **Revenue Growth**: Despite the shortfall in earnings, Ligand Pharmaceuticals demonstrated robust revenue growth. The company achieved a remarkable year-over-year revenue growth rate of 57.64% as of September 30, 2024. This outstanding performance exceeded the average growth rate of the Health Care sector, indicating Ligand's strong market presence and operational effectiveness. 3. **Future Outlook**: Ligand Pharmaceuticals has raised its core adjusted earnings and revenue guidance for fiscal 2024, projecting core adjusted earnings in the range of $5.50 to $6.00. This optimistic outlook reflects the company's confidence in its continued growth and profitability. In conclusion, while Ligand Pharmaceuticals' Q4 earnings did not meet expectations, the company's strong revenue growth and optimistic future outlook provide a positive narrative for investors.