Moderna raises 2026 outlook as CEO says newer vaccines are gaining traction

Summary

• Moderna reported third-quarter revenue of $1.31 billion, surpassing the expected $885.1 million.
• Earnings per share reached 38 cents, contrasting with an expected loss of $1.25 per share.
• The company raised its 2026 revenue growth outlook to 15% to 25%, up from previous guidance of up to 10%.
• Third-quarter revenue increased 29% year-over-year, driven by higher international Covid vaccine sales & government partnership deliveries.
• U.S. revenue for the quarter was $780 million, while international revenue totaled $533 million.
• Net income for the quarter was $162 million, compared to a net loss of $200 million in the same period last year.
• The company cited the full-year impact of its next-generation mRNA Covid vaccine, approved in the U.S. in May 2025, as a key growth factor.
• Moderna's stand-alone flu shot, approved in the U.S. in August, is expected to have a limited launch in 2026 due to seasonal timing.
• Moderna & Merck unveiled late-stage data showing promising results for an experimental personalized cancer vaccine combined with Keytruda in melanoma patients.
• Moderna stock declined following a social media leak of trial data prior to a scheduled European medical conference presentation.
• CEO Stéphane Bancel described the market reaction to the data leak as surprising but noted positive responses from long-term investors & analysts.