UTHR Q1 revenue falls 2% to $781.5M; net income down 15%; $2B buyback

UNITED THERAPEUTICS Corp

2026-Q1 EPS reported $5.82 revenue$781,500,000

Total revenues $781.5M (-2% YoY); net income $274.9M (-15%); diluted EPS $5.82 vs $6.63.
Tyvaso DPI grew 9% to $330.3M but Nebulized Tyvaso fell 22% to $127.2M; Orenitram up 12%.
Cost of sales surged 44% to $133.4M, with $26.8M inventory reserve loss on Tyvaso DPI supply agreement.
Board authorized $2B share repurchase; $1.5B accelerated buyback executed; $500M remaining.
Positive ADVANCE OUTCOMES and TETON-1 study results; plans to develop ralinepag DPI for PH/fibrosis.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNITED THERAPEUTICS Corp reported the quarter ended March 31, 2026 results: revenue $781.5, net income $274.9, EPS $5.82.

Period: the quarter ended March 31, 2026
Revenue: $781.5
Net income: $274.9
EPS: $5.82
Result: reported results

Exact text from the filing

First Quarter 2026 Financial Results Key financial highlights include (dollars in millions, except per share data): Three Months Ended March 31, Dollar Change Percentage Change 2026 2025 Total revenues $ 781.5 $ 794.4 $ (12.9) (2) % Net income $ 274.9 $ 322.2 $ (47.3) (15) % Net income, per basic share $ 6.32 $ 7.18 $ (0.86) (12) % Net income, per diluted share $ 5.82 $ 6.63 $ (0.81) (12) %

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Source: SEC EDGAR

accession 0001082554-26-000021

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