Vertex Pharmaceuticals (VRTX) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Vertex Pharmaceuticals published the results on November 2, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Vertex Pharmaceuticals reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Vertex acquired Crinetics Pharmaceuticals on September 1, 2026, for $85.00 per share in cash, a total equity value of $10.0 billion. Q3 2026 includes one month of PALSONIFY sales and about $500 million of compensation and transaction expenses tied to the deal.
• Vertex's non-GAAP measures exclude stock-based compensation, acquisition-related costs, intangible asset amortization and changes in the fair value of strategic investments and contingent consideration.

Source: Vertex Q3 2026 results, November 2, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Vertex Pharmaceuticals splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Vertex Pharmaceuticals's Total CF product revenues revenue was $3.3 billion in Q3 2026, up 8% from $3.0 billion in Q3 2025, 95% of total revenue.
• Vertex Pharmaceuticals's CASGEVY revenue was $99.2 million in Q3 2026, up 487% from $16.9 million in Q3 2025, 3% of total revenue.
• Vertex Pharmaceuticals's JOURNAVX revenue was $58.3 million in Q3 2026, up 197% from $19.6 million in Q3 2025, 2% of total revenue.
• Vertex Pharmaceuticals's PALSONIFY revenue was $10.1 million in Q3 2026, under 1% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Vertex's guidance table also raises combined GAAP R&D, AIPR&D and SG&A expenses to $7.15 to $7.2 billion (from $6.3 to $6.45 billion) and the non-GAAP equivalent to approximately $6.0 billion (from $5.65 to $5.75 billion), and keeps the non-GAAP effective tax rate at 19.5% to 20.5%. Vertex gives no EPS guidance.

In its Q3 2026 release, Vertex Pharmaceuticals said:

“Vertex today raised its full year 2026 total revenue guidance to $13.15 billion to $13.25 billion from $13.1 billion to $13.2 billion previously.”

“Embedded in this guidance are expectations for continued growth in CF, $500 million or more in revenue from CASGEVY and JOURNAVX combined, and $40 million to $50 million in revenue from PALSONIFY following the closing of the Crinetics Pharmaceuticals transaction on September 1.”

“Total revenue guidance continues to reflect a year-over-year benefit of approximately 150 basis points from changes in foreign exchange rates, net of Vertex's foreign exchange hedging program.”

Source: Vertex Q3 2026 release, Nov 2, 2026.

This is the company's own guidance as of Nov 2, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the VRTX forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total revenues and diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for Vertex Pharmaceuticals's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 2, 2026

Vertex Pharmaceuticals still earns almost all of its revenue from cystic fibrosis medicines: $3,273.2 million of $3,440.8 million in Q3 2026. TRIKAFTA/KAFTRIO brought in $2,436.9 million, down from $2,653.6 million, while ALYFTREK rose to $705.8 million from $247.0 million. Vertex says its CFTR modulators can treat approximately 95 percent of all people living with CF in core markets. (Vertex Q3 2026 release, Nov 2, 2026)

Vertex's medicines outside CF are growing from a small base. CASGEVY, the CRISPR gene-edited cell therapy for sickle cell disease and beta thalassemia, recorded $99.2 million, nearly six times the $17 million a year earlier. JOURNAVX, a non-opioid acute pain pill, recorded $58.3 million, with more than 750,000 prescriptions filled in the quarter. PALSONIFY, for acromegaly, added $10.1 million in September after the Crinetics Pharmaceuticals acquisition closed on September 1. (Vertex Q3 2026 release, Nov 2, 2026)

Vertex's total revenue rose 12%. In the U.S. it rose 10% to $2,169.1 million, which Vertex attributes to CF patient demand including new ALYFTREK initiations, higher realized net prices in CF, and contributions from CASGEVY, JOURNAVX and PALSONIFY. Outside the U.S. it rose 16% to $1,271.7 million, of which Europe was $1,002.6 million, helped by ALYFTREK uptake, more CASGEVY infusions and a favorable impact from foreign exchange. (Vertex Q3 2026 release, Nov 2, 2026; Vertex Form 10-Q, Q3 2026, Nov 3, 2026)

Some of Vertex's international CF revenue comes under annual contracts with government-owned and supported customers that cap the reimbursement Vertex can receive; once the cap is exceeded, the CF products are provided free of charge. ALYFTREK was reimbursed in 32 countries after Vertex secured reimbursement in 7 more during the quarter. (Vertex Form 10-Q, Q3 2026, Nov 3, 2026; Vertex Q3 2026 release, Nov 2, 2026)

Vertex's GAAP diluted EPS fell to $2.56 from $4.20, while non-GAAP EPS was $4.76 against $4.80. The gap is mostly the Crinetics deal: $502.0 million of acquisition-related costs, primarily compensation expense for cash-settled unvested Crinetics equity awards and transaction costs, which Vertex excludes from non-GAAP results along with $174.4 million of stock-based compensation and $20.9 million of intangible asset amortization. (Vertex Q3 2026 release, Nov 2, 2026)

Non-GAAP net income was $1,213.6 million against $1,236.3 million. Vertex says higher operating expenses for the renal franchise build-out, Crinetics and the JOURNAVX launch, plus higher interest expense and lower interest income from the acquisition, offset the higher product revenue. Interest expense rose to $36.0 million from $3.3 million after Vertex borrowed $4.5 billion under a term loan in the quarter. (Vertex Q3 2026 release, Nov 2, 2026)

Vertex's GAAP and non-GAAP effective tax rates were 16.6% and 18.0%, against 16.6% and 17.6% a year earlier. Diluted shares fell to 255.2 million from 257.6 million. Cash, cash equivalents and total marketable securities fell to $9.8 billion from $12.3 billion at the end of 2025, mainly because of $9.0 billion of net cash used for Crinetics and share repurchases. (Vertex Q3 2026 release, Nov 2, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Vertex Pharmaceuticals gives full-year guidance for revenue, operating expenses and the non-GAAP tax rate, but not for EPS. With Q3 2026 results it raised 2026 total revenue guidance to $13.15 billion to $13.25 billion from $13.1 billion to $13.2 billion, including $500 million or more from CASGEVY and JOURNAVX combined and $40 million to $50 million from PALSONIFY. The range includes a benefit of approximately 150 basis points from foreign exchange. (Vertex Q3 2026 release, Nov 2, 2026)

Vertex also raised its 2026 combined non-GAAP R&D, AIPR&D and SG&A guidance to approximately $6.0 billion from $5.65 to $5.75 billion, mostly for running and integrating Crinetics. The next scheduled event the release names is the FDA's PDUFA target action date of November 30, 2026, for povetacicept in IgA nephropathy. (Vertex Q3 2026 release, Nov 2, 2026)

A consensus figure is the average of the models published by the analysts who cover Vertex Pharmaceuticals, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Vertex Pharmaceuticals's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning VRTX is on is VRTX a buy or a sell?, what analysts expect next is on the VRTX forecast, and what the company does is on the Vertex Pharmaceuticals (VRTX) stock page.

Every number on this page can be traced to a document Vertex Pharmaceuticals published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.