NVS - Novartis: Strong Start To The Year With Beat-And-Raise First Quarter Results

2024-04-23 10:00:00 ET

Summary

• Novartis reported strong first quarter results with an EPS beat and revenue beat.
• The company's core growth products, including Entresto, Cosentyx, Kesimpta, Kisqali and Leqvio, drove the strong first-quarter performance.
• Novartis increased its full-year revenue and operating income growth guidance.
• Healthy balance sheet and cash flow generation leave room for continued business development activity on top of dividends and share repurchases.
• Entresto going generic remains the key medium-term risk.

Novartis ( NVS ) is off to a strong start in 2024 with a $0.12 EPS beat and a $330 million revenue beat. The year-over-year comparisons by Seeking Alpha note an 8.6% decline in revenues compared to the same quarter last year, but this comparison includes the divested Sandoz division and the existing business that excludes Sandoz generated a 10% Y/Y increase in total revenues in the first quarter of the year along with a 22% Y/Y increase in operating income thanks to the exclusion of the lower margin Sandoz business....

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