GlaxoSmithKline: slightly beats forecasts; shares down.
(CercleFinance.com) - GlaxoSmithKline beat quarterly sales and profit expectations and reiterated its outlook for sales and earnings performance to 2020.
Overall quarterly sales, in sterling terms, rose 3 per cent to 7.32 billion pounds, generating adjusted earnings per share (EPS) down 2 per cent at 27.2 pence.
Analysts, on average, had forecast sales of 7.27 billion pounds and adjusted EPS of 26.3 pence.
In constant currencies, pharmaceutical sales rose 3 per cent at 4.4 billion pounds, vaccines 5 per cent at 1.1 billion pounds and consumer healthcare was flat at 1.9 billion pounds.
Going forward, GSK said the group's top priority is now to improve its pharmaceuticals unit.
For the period 2016-2020, GSK expects sales to grow at constant currencies at a low- to mid-single-digit percentage rate on average and adjusted EPS to grow at a mid- to high-single-digit percentage rate.
GSK now expects 2017 adjusted EPS growth to be 3% to 5% at constant currencies, compared to 5%-7% so far.
Its shares were down 1.3 per cent at 1,565.5 pence on the London Stock Exchange after the report.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Overall quarterly sales, in sterling terms, rose 3 per cent to 7.32 billion pounds, generating adjusted earnings per share (EPS) down 2 per cent at 27.2 pence.
Analysts, on average, had forecast sales of 7.27 billion pounds and adjusted EPS of 26.3 pence.
In constant currencies, pharmaceutical sales rose 3 per cent at 4.4 billion pounds, vaccines 5 per cent at 1.1 billion pounds and consumer healthcare was flat at 1.9 billion pounds.
Going forward, GSK said the group's top priority is now to improve its pharmaceuticals unit.
For the period 2016-2020, GSK expects sales to grow at constant currencies at a low- to mid-single-digit percentage rate on average and adjusted EPS to grow at a mid- to high-single-digit percentage rate.
GSK now expects 2017 adjusted EPS growth to be 3% to 5% at constant currencies, compared to 5%-7% so far.
Its shares were down 1.3 per cent at 1,565.5 pence on the London Stock Exchange after the report.
Copyright (c) 2017 CercleFinance.com. All rights reserved.