UTHR Q3 2025 Earnings
Reported Oct 29, 2025 at 6:34 AM ET · SEC Source
Q3 25 EPS
$7.16
BEAT +2.86%
Est. $6.96
Q3 25 Revenue
$799.5M
MISS 1.65%
Est. $812.9M
vs S&P Since Q3 25
+14.4%
BEATING MARKET
UTHR +19.3% vs S&P +4.8%
Market Reaction
Did UTHR Beat Earnings? Q3 2025 Results
United Therapeutics delivered a mixed but broadly encouraging third quarter, beating profit expectations while falling just short on revenue, as the pulmonary disease specialist posted earnings per share of $7.16 against a consensus estimate of $6.96… Read more United Therapeutics delivered a mixed but broadly encouraging third quarter, beating profit expectations while falling just short on revenue, as the pulmonary disease specialist posted earnings per share of $7.16 against a consensus estimate of $6.96, a 2.86% beat, on revenues of $799.50 million that trailed the $812.87 million estimate by 1.65% yet still grew 6.8% year-over-year. The headline story was the continued dominance of the Tyvaso franchise, where the dry powder inhaler formulation surged to $336.20 million on higher patient volumes, helping total Tyvaso revenues climb 10% to $478.00 million and offsetting a softer showing from nebulized Tyvaso. Orenitram added further momentum with 16% growth, partly aided by the Medicare Part D redesign under the Inflation Reduction Act. Looking ahead, management pointed to breakthrough data from the TETON-2 trial in idiopathic pulmonary fibrosis as a potential catalyst to broaden the company's reach well beyond its pulmonary arterial hypertension core, a narrative that has drawn growing analyst attention and helped fuel a sharp rally in shares in recent months.
Key Takeaways
- • Tyvaso DPI volume growth driven by continued patient adoption since launch
- • Medicare Part D benefit redesign under the Inflation Reduction Act increased commercial utilization for Tyvaso DPI and Orenitram
- • Orenitram quantities sold increased by $11.7 million driven in part by IRA-related utilization
- • Total Tyvaso revenues grew 10% year-over-year to $478.0 million
UTHR YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
UTHR Revenue by Segment
With YoY comparisons, source: SEC Filings
UTHR Revenue by Geography
With YoY comparisons, source: SEC Filings
“Our commercial and clinical teams continue to deliver record results, validating our strategic objectives. The breakthrough results from our TETON-2 study in idiopathic pulmonary fibrosis could significantly broaden our therapeutic reach and accelerate our growth.”
— Martine Rothblatt, Q3 2025 Earnings Press Release
UTHR Earnings Trends
UTHR vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
UTHR EPS Trend
Earnings per share: estimate vs actual
UTHR Revenue Trend
Quarterly revenue: estimate vs actual
UTHR Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $7.10 | $7.70 | +8.45% | $790.2M | -2.18% |
| FY Full Year | $26.95 | $27.86 | +3.39% | $3.18B | -0.55% |
| Q3 25 BEAT | $6.96 | $7.16 | +2.86% | $799.5M | -1.65% |
| Q2 25 MISS | $6.92 | $6.41 | -7.31% | $798.6M | -0.63% |
| Q1 25 BEAT | $6.28 | $6.63 | +5.62% | $794.4M | +9.37% |