Biogen Expects 2024 Adjusted EPS Of $15.75-$16.25 Versus Prior Guidance Of $15.00-$16.00 And Consensus Of $15.58
Portfolio Pulse from Benzinga Newsdesk
Biogen has updated its 2024 financial guidance, expecting adjusted EPS of $15.75-$16.25, an improvement from prior guidance. The company anticipates a low-single digit percentage decline in total revenue, with core pharmaceutical revenue remaining flat. Operating income is expected to grow at a mid- to high-teen percentage, driven by improved cost of sales and lower operating expenses.
August 01, 2024 | 11:01 am
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Biogen has raised its 2024 adjusted EPS guidance to $15.75-$16.25, up from the previous $15.00-$16.00. The company expects a slight decline in total revenue but anticipates flat core pharmaceutical revenue. Operating income is projected to grow significantly due to improved cost of sales and lower operating expenses.
The updated guidance indicates a positive outlook for Biogen's financial performance in 2024. The raised EPS guidance and expected growth in operating income are likely to boost investor confidence and positively impact the stock price in the short term.
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