Sanofi Reports Q3 Earnings Beat; Raises FY22 EPS Guidance
Seeking Alpha2022-10-28
- Sanofi Q3 Non-GAAP EPS of €2.88 beats by €0.22.
- Revenue of €12.48B (+19.7% Y/Y) beats by €440M, sales growth of 9.0% at CER driven by Specialty Care and Vaccines.
- Specialty Care grew 19.9% driven by Dupixent® performance (€2,314M, +44.5%) and launch momentum in Rare Disease.
- Vaccines up 23.5% from strong Flu sales in the quarter, rebound of Travel vaccines and growth of Meningitis and PPH franchises.
- General Medicines achieved 2.4% core assets growth despite lower Lovenox® sales due to decreasing demand from COVID-19.
- CHC up 1.9% with strong growth in Digestive Wellness and Cough & Cold in a normalizing market environment post-COVID-19.
- Full-year 2022 business EPS guidance revise upward: Sanofi now expects 2022 business EPS to grow ~16% at CER, barring unforeseen major adverse events.
- Applying average October 2022 exchange rates, the positive currency impact on 2022 business EPS is estimated between +9.5% to +10.5%.
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