Horizon Therapeutics Public (HZNP) Q1 2022 Earnings Call Transcript

For the period ending March 31, 2022

May 4, 2022 8:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day, and thank you for standing by. Welcome to the Horizon Therapeutics First Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers presentation there will be a question-and-answer session. [Operator Instructions] Please be advised, today's conference is being recorded. [Operator Instructions]

I would now like to hand the conference over to Tina Ventura, Senior Vice President, Chief Investor Relations Officer. Please go ahead.

Tina Ventura

Thank you, Noma. Good morning, everyone, and thank you for joining us. On the call with me today are Tim Walbert, Chairman, President and Chief Executive Officer; Liz Thompson, Executive Vice President, Research and Development; Paul Hoelscher, Executive Vice President, Chief Financial Officer; Andy Pasternak, Executive Vice President, Chief Strategy Officer; and Aaron Cox, Executive Vice President, Finance. As a reminder, Aaron will be transitioning to the role of CFO on May 16.

Tim will provide a review of the business, including our first quarter performance, Liz will then review our R&D programs, followed by Paul, who will discuss our financial performance and guidance in more detail. After closing remarks from Tim, we'll take your questions.

During today's call, we'll be making certain forward-looking statements, including statements about financial projections, development activities, our business strategy and the expected timing and impact of future events. Our actual results could differ materially due to a number of factors, including the risk factors and other information outlined in our latest Forms 10-K, 10-Q and any 8-Ks filed with the Securities and Exchange Commission, and our earnings press release, which we issued this morning.

You're cautioned not to place undue reliance on these forward-looking statements, and Horizon disclaims any obligation to update such statements. In addition, on today's conference call, non-GAAP financial measures will be used. These non-GAAP financial measures are reconciled with the comparable GAAP financial measures in our earnings press release and other filings from today that are available on our investor website at www.horizontherapeutics.com.

I will now turn the call over to Tim.

Tim Walbert

Thank you, Tina, and good morning, everyone. We had a strong start to the year with first quarter net sales of $885 million and first quarter adjusted EBITDA of $371 million. We also reiterated our full year 2022 guidance this morning, and are well positioned for another year of top-tier growth.