$UTHR · UNITED THERAPEUTICS Corp
United Therapeutics filed an 8-K with its Q3 2026 earnings release. Total revenue grew 4% YoY to $832.5M from $799.5M, while net income dropped 24% to $258.6M and diluted EPS fell 20% to $5.71 from $7.16. The decline was driven by a 119% jump in R&D to $279.2M, largely from the Thymmune acquisition IPR&D charge, partially offset by a $67.3M litigation-accrual reversal tied to the Sandoz/Liquidia settlement.
- Revenue +4% YoY to $832.5M, a record quarter.
- Net income -24% to $258.6M; diluted EPS -20% to $5.71.
- R&D expense +119% to $279.2M on Thymmune IPR&D charge.
- Tyvaso DPI revenue +13% to $378.5M; Nebulized Tyvaso -12%.
- New $2.0B buyback authorized through October 21, 2027.
Extended-hours last trade $638.30, +6.15% vs the $601.32 regular close, signaling a positive after-hours reaction despite the EPS decline.
Record revenue and a fresh $2B buyback contrast with a 24% profit drop from a one-time acquisition charge, leaving investors to weigh pipeline investment against near-term earnings.
Competitive therapies are pressuring Nebulized Tyvaso, Tyvaso DPI, and Remodulin, while the company pivots toward manufactured organs and cardiopulmonary pipeline expansion.
Competitive therapies negatively impacted Nebulized Tyvaso, Tyvaso DPI, and Remodulin sales; the Thymmune IPR&D charge drove a higher 31% effective tax rate.