- ONE PIECE SLIDE HAND CARVED WOODEN BOOKENDS UPDATE
- ONE PIECE SLIDE HAND CARVED WOODEN BOOKENDS FULL
- ONE PIECE SLIDE HAND CARVED WOODEN BOOKENDS PROFESSIONAL
ONE PIECE SLIDE HAND CARVED WOODEN BOOKENDS PROFESSIONAL
Adjusted EBITDA is an important non-GAAP measure for us, which is arrived at by deducting payments for operating and professional costs from our top line. Similar to our top line, we grew our adjusted EBITDA by 6% in the quarter prior to the Biohaven-related payment and 4% including this payment. If we also adjust for foreign exchange impact, we would have delivered approximately 9% top line growth in the quarter, underscoring the strong underlying momentum in the business. We delivered 7% growth in our top line prior to the Biohaven-related payment in the prior period and 4% if we include this payment.įoreign exchange continued to represent a headwind, impacting our top line by around minus-1% to minus-3% in the quarter. On Slide 7, you can see our financials in more detail. Consistent with our standard practice, our guidance is based on our current portfolio and does not include the benefit of any future acquisitions this year. Our guidance reflects expected underlying growth from our portfolio of between 6% and 10% prior to the Biohaven-related payments.
ONE PIECE SLIDE HAND CARVED WOODEN BOOKENDS FULL
Third, we’re raising our full year guidance for adjusted cash receipts to between $2.9 billion and $2.975 billion. As of last night’s close, we have repurchased approximately 6 million shares for a total spend of about $185 million. We also initiated our $1 billion multi-year share repurchase program. Second on capital allocation, year to date we announced royalty acquisitions of up to $1.7 billion, including $659 million in upfront payments. Our top line grew by 7%, adjusted EBITDA by 6%, and adjusted cash flow grew by 9%. First, we delivered solid financial performance prior to the Biohaven-related payment we received in the second quarter of 2022 adjusted cash receipts.
Slide 6 summarizes our financial achievements in the second quarter, which again demonstrates our strong momentum and the power of our business model. I am delighted to report another solid quarter of execution against our strategy as the leading funder of innovation in life sciences. Pablo Legorreta: Thank you George, and welcome to everyone on the call.
With that, I’d like to turn the call over to Pablo. Following concluding remarks from Pablo, we will hold a Q&A session when we will be joined by Chris Hite, EVP and Vice Chairman. Pablo will discuss a few highlights, Marshall will then provide a portfolio update, after which Terry will review the financials. Our speakers on the call today are Pablo Legorreta, Founder and Chief Executive Officer Marshall Urist, EVP, Head of Research and Investment, and Terry Coyne, EVP and Chief Financial Officer. The GAAP to non-GAAP reconciliations are provided in the earnings press release available on our website. Non-GAAP financial measures will be used to help you understand our financial performance.
ONE PIECE SLIDE HAND CARVED WOODEN BOOKENDS UPDATE
All forward-looking statements are based on information currently available to Royalty Pharma and we assume no obligation to update any such forward-looking statements. I refer to our 10-Q on file with the SEC for a description of these risks. Moving to Slide 3, I would like to remind you that information presented in this call contains forward-looking statements that involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from these statements. You can find a press release with our earnings results and slides for this call on the Investors page of our website at. Thank you for joining us to review Royalty Pharma’s second quarter 2023 results. George Grofik: Good morning and good afternoon to everyone on the call.
I would now like to turn the call over to George Grofik, Senior Vice President, Head of Investor Relations and Communications. Welcome to the Royalty Pharma second quarter earnings conference call. Operator: Ladies and gentlemen, thank you for standing by. Reported EPS is $0.84, expectations were $0.83. Royalty Pharma plc beats earnings expectations.
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