Sandoz Fiscal 2023 Core EPS $2.20 Down From $2.83 YoY; Sales $9.65B Up From $9.07B YoY
Portfolio Pulse from Benzinga Newsdesk
Sandoz reported a decrease in its fiscal 2023 core EPS to $2.20 from $2.83 YoY, while sales increased to $9.65B from $9.07B YoY. The company experienced strong growth across all regions and in biosimilars, with a full-year net sales increase of 7% in constant currencies. However, the EBITDA margin fell to 9.5% due to legal settlements and other one-time costs.
March 13, 2024 | 6:28 am
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Sandoz's fiscal 2023 report shows a decrease in core EPS but an increase in sales, with significant growth in biosimilars and across all regions. The EBITDA margin was impacted by legal settlements and other costs.
The mixed results with a decrease in EPS but an increase in sales and strong growth in key areas suggest a neutral short-term impact on SDZNY's stock price. The positive sales growth and expansion in biosimilars could be offset by concerns over the reduced EBITDA margin and the reasons behind it, such as legal settlements.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100