Biogen Reaffirms 2024 Adjusted EPS Guidance Of $15.00-$16.00, Representing EPS Growth Of Approximately 5% Versus 2023 At The Mid-point Versus Consensus Of $15.48
Portfolio Pulse from Benzinga Newsdesk
Biogen has reaffirmed its 2024 adjusted EPS guidance of $15.00-$16.00, indicating a 5% growth from 2023, aligning with a consensus of $15.48. The company anticipates a low- to mid-single digit percentage decline in total revenue compared to 2023 but expects its core pharmaceutical revenue to remain stable. Additionally, Biogen projects a low-double digit percentage growth in operating income and a mid-single digit percentage improvement in operating margin.
April 24, 2024 | 10:53 am
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Biogen reaffirms its 2024 EPS guidance, projecting a 5% growth over 2023, with stable core pharmaceutical revenue and an anticipated increase in operating income and margin.
Biogen's reaffirmation of its 2024 EPS guidance, especially when it aligns with consensus estimates, is a positive signal to investors, indicating stability and potential growth in its core business. The expected growth in operating income and improvement in operating margin further support a positive outlook for the stock in the short term. The company's ability to maintain core pharmaceutical revenue despite anticipating a decline in total revenue demonstrates resilience in its key business areas.
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