BioNTech Tumbles As Fourth-Quarter Sales Dive 65% And Miss Forecasts

BioNTech (BNTX) stock tumbled Wednesday after the Covid vaccine maker reported light fourth-quarter sales and profit, and delivered lackluster guidance for 2024.




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During the December quarter, BioNTech earned $2.06 per share on just north of $1.6 billion in sales — based on today’s exchange rates. But both metrics missed Wall Street’s expectations for earnings of $2.58 a share and $1.99 billion, according to FactSet.

Sales plummeted more than 65%, while earnings crashed about 79.5% amid declining demand for Covid shots. BioNTech partners with Pfizer (PFE) on the Covid vaccine called Comirnaty. Similarly, Moderna (MRNA) and Novavax reported year-over-year sales declines for their Covid vaccines in the fourth quarter.

For the year, BioNTech, Pfizer’s partner, expects roughly $2.71 billion to $3.25 billion in sales. The high end of the company’s outlook lagged analysts’ forecast for $3.37 billion.

In premarket trades, BioNTech stock toppled 5.3% to 89.18.

More to follow.

Follow Allison Gatlin on X, the platform formerly known as Twitter, at @IBD_AGatlin.

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