Royalty Pharma PLC - CL

Q2 FY2026 EarningsQ2 FY26 Portfolio Receipts grew 6% YoY to $773M, while Royalty Receipts outperformed at 14% growth driven by strong adoption of Tremfya (+53%) and Voranigo (+72%). GAAP Net Income of $18M and GAAP EPS of $0.03 significantly missed consensus of $0.83, primarily due to a $268M non-cash provision for changes in expected cash flows. However, management raised FY26 Portfolio Receipts guidance to $3.4B-$3.5B (vs. $3.33B-$3.45B previously), signaling robust underlying asset performance despite accounting volatility.