Biogen Raised Its 2024 Adjusted EPS Guidance To $16.10-$16.60 Versus Prior Guidance Of $15.75-$16.25 And Consensus Of $16.19
Portfolio Pulse from Benzinga Newsdesk
Biogen has raised its 2024 adjusted EPS guidance to $16.10-$16.60, up from the previous $15.75-$16.25, and above the consensus of $16.19. Despite expecting a low-single digit decline in total revenue, Biogen anticipates flat core pharmaceutical revenue and improved operating income due to cost efficiencies.
October 30, 2024 | 1:04 pm
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Biogen has increased its 2024 adjusted EPS guidance, indicating confidence in its financial performance despite expected revenue declines. The company anticipates improved operating income and cost efficiencies.
Biogen's raised EPS guidance suggests stronger than expected financial performance, which is typically positive for stock prices. The company's ability to offset revenue declines with cost efficiencies and new product launches further supports a positive outlook.
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