OGN - Organon Q4 And Full Year 2023 Earnings Review - Positive Updates At Last

2024-02-16 11:45:57 ET

Summary

• Organon's Q4 earnings report led to a surge in share price, reaching a 6-month high of $18. FY revenues were $6.2bn, and adjusted EBITDA $1.9bn.
• The company's focus on developing new revenue streams in Women's Health and Biosimilars is starting to show promise.
• Organon's established brands division is still performing well, but the company expects flat performance in 2024 as it looks to drive growth in other areas.
• Organon has massive debt of ~$8bn after being spun out by Merck & Co, but management executed well last quarter and the company can have a good year in 2024.

Investment Overview

Organon & Co. ( OGN ) shareholders have been desperately hoping for some good news from management, after a tough set of Q3 earnings , which I covered in a post for Seeking Alpha in early November, sent the company's share price plummeting to lows of ~$11. Yesterday, OGN shares climbed to a ~6-month high of $18 after an upbeat set of Q4 earnings ....

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