Sanofi Raises Full-Year Business EPS Guidance Despite 2Q Loss Swing

Date : 07/29/2019 @ 6:16AM
Source : Dow Jones News
Stock : Sanofi (SNY)
Quote : 46.11  1.09 (2.42%) @ 1:00AM
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Sanofi Raises Full-Year Business EPS Guidance Despite 2Q Loss Swing

Sanofi (EU:SAN)
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   By Anthony Shevlin 
 

Sanofi SA (SAN.FR) said Monday that it posted a loss in the second quarter, in part due to restructuring costs, but that it is confident in its growth outlook for the year and thus raised its full-year business earnings per share guidance.

Net loss in the second quarter was 87 million euros ($96.8 million) compared with a profit of EUR762 million the year prior.

Sales for the period rose 5.5% to EUR8.63 billion.

Business net income, the company's term for adjusted income excluding the impact of acquisitions and divestments, rose to EUR1.64 billion from EUR1.56 billion last year.

Sanofi raised its full-year business EPS guidance and now expects it to grow around 5%.

Sanofi Chief Executive Olivier Brandicourt said the company is confident in its growth outlook for the year.

 

Write to Anthony Shevlin at anthony.shevlin@dowjones.com; @anthony_shevlin

 

(END) Dow Jones Newswires

July 29, 2019 02:01 ET (06:01 GMT)

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