JAZZ - Jazz Pharma Q4 2022 results are a miss but 2023 outlook hits a high note; stock up 5%

March, 01 2023 05:12 PM Jazz Pharmaceuticals plc

While Jazz Pharmaceuticals ( NASDAQ: JAZZ ) missed on the top and bottom lines in its Q4 2022 results, its 2023 revenue outlook range included the consensus.
The company is projecting 2023 total revenue of $3.675M to $3.875M (consensus $3.76B).
Shares are up 5% in after-hours trading.
In the quarter, Jazz ( JAZZ ) swung to a non-GAAP adjusted net loss of ~$4.2M from net income of $262M in the year-ago period (-$0.07 adjusted EPS vs. $4.21).
The company was hurt in the quarter by an increase in cost of product sales and research and development.
Jazz ( JAZZ ) ended the quarter with ~$881.5M in cash and cash equivalents, a 49% increase from the end of 2021.
Read why Seeking Alpha contributor Zach Bristow considers Jazz ( JAZZ ) a hold.

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