GlaxoSmithKline 3Q Net Profit Fell Slightly; Raises 2021 Adjusted EPS View
October 27 2021 - 07:53AM
Dow Jones News
By Cecilia Butini
GlaxoSmithKline PLC on Wednesday posted a slightly declining net
profit for the third quarter despite higher sales, and raised its
outlook for its 2021 adjusted earnings per share.
The British pharma major said net profit for the period was 1.17
billion pounds ($1.61 billion), slightly down from $1.24 billion
the year prior but beating a consensus provided by FactSet which
saw the metric at GBP844 million.
Adjusted earnings per share, a closely-watched metric which
leaves out some one-off items, came in at 36.6 pence for the
period, also beating a FactSet consensus which saw it at 28.63
pence. Adjusted earnings per share in the same quarter the previous
year were 35.60 pence.
Sales rose to GBP9.08 billion in the quarter from GBP8.65
billion the previous year, GSK said.
The company raised its outlook on adjusted earnings per share
for 2021, saying it now expects the metric to decline between 2%
and 4% at constant exchange rates excluding Covid-19 solutions. It
had previously foreseen a mid-to-high single-digit decline.
Looking ahead, it reconfirmed the expectation for meaningful
improvement in revenues and margin in 2022.
GSK also declared a dividend of 19 pence for the third quarter,
continuing to expect 80 pence a share for 2021.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
October 27, 2021 07:38 ET (11:38 GMT)
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