GSK Lifts Guidance After Turnover Beats Expectations
By Helena Smolak
GSK lifted its full-year guidance after first-quarter turnover rose and beating expectations, helped by higher sales in its vaccines and specialty medicines segment.
The British pharmaceutical giant said Wednesday that it now expects turnover growth this year toward the higher end of its previously guided 5% to 7% range. It now expects core operating profit growth of 9% to 11% compared with previous expectations of 7% to 10%, and anticipates core earnings per share growth of 8% to 10% compared with the previously guided 6%-9%.
First-quarter turnover rose to 7.36 billion pounds ($9.19 billion) from GBP6.95 billion the year prior, beating analysts' expectations of GBP7.07 billion. Sales of its recently launched respiratory syncytial virus vaccine Arexvy came to GBP182 million during the period.
Net profit fell to GBP1.05 billion from GBP1.49 billion the year prior, missing analysts' expectations of GBP1.15 billion. Core earnings per share--one of the company's preferred metrics, which strips out exceptional and other one-off items--rose 28% at constant exchange rates to 43.1 pence.
GSK declared a dividend of 15 pence for the first quarter, and expects to pay out a dividend of 60 pence for the full year.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
May 01, 2024 02:47 ET (06:47 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
How Anti-Obesity Drugs Are Innovating the Healthcare Market
-
What’s Happening In the Markets This Week
-
Why Immigration Has Boosted Job Gains and the Economy
-
What to Invest in During High Inflation
-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
After Earnings, Is Lyft Stock a Buy, a Sell, or Fairly Valued?
-
8 Stock Picks in the Apparel Industry
-
Baidu Earnings: Advertising Weakness Offset by Continued Growth In Cloud Business
-
Going Into Earnings, Is Target Stock a Buy, a Sell, or Fairly Valued?
-
Walmart Earnings: Low Prices and Strong Digital Presence Drive Market Share Gains
-
After Earnings and a Big Selloff, Is Shopify Stock a Buy, a Sell, or Fairly Valued?
-
Cisco Earnings: Positive Guidance and Splunk Inclusion Align With Our Long-Term Thesis
-
3 Warren Buffett Stocks to Buy After Berkshire Hathaway’s Just-Released 13F Filing