---
schema_version: "secwatch.filing_event.v1"
accession: "0001082554-26-000021"
form_type: "8-K"
ticker: "UTHR"
cik: "0001082554"
company_name: "UNITED THERAPEUTICS Corp"
filed_at: "2026-05-06T23:59:59+00:00"
generated_at: "2026-05-14T22:28:13.445421+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001082554-26-000021
- form_type: 8-K
- ticker: UTHR
- cik: 0001082554
- company_name: UNITED THERAPEUTICS Corp
- filed_at: 2026-05-06T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1082554/000108255426000021/0001082554-26-000021-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1082554/000108255426000021/uthr-20260506.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001082554-26-000021
- JSON: https://secwatch.observer/filing/0001082554-26-000021.json
- Plain text: https://secwatch.observer/filing/0001082554-26-000021.txt

## Source-grounded claims
- claim_id: 88f9a2dcb7c991a6a36415344ddac12c5dbff87d
  claim: UNITED THERAPEUTICS Corp reported the quarter ended March 31, 2026 results: revenue $781.5, net income $274.9, EPS $5.82.
  evidence_excerpt: 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) %
  evidence_url: https://www.sec.gov/Archives/edgar/data/1082554/000108255426000021/0001082554-26-000021-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.