Sanofi (SNY) Tops Q3 EPS Views; Boosts EPS Outlook; Approves EUR 3.5B Stock Buyback Plan
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Sanofi (NYSE: SNY) reported Q3 EPS of €1.30, €0.45 better than the analyst estimate of €0.85. Revenue for the quarter came in at €9.03 billion versus the consensus estimate of €10.52 billion.
Business EPS rose 11.2 percent to €1.79.
Sanofi also announced initiation of a €3.5 billion share repurchase program, which it expects to complete by YE17.
We have generated solid sales momentum in the third quarter and seen a strong contribution to our financial performance from savings and efficiencies arising from our more focused organization. As a result, we are able to increase our FY 2016 Business EPS guidance. In addition, we have continued to work diligently to progress our major launches and the pipeline. With the filing of Dupixent®, we now have another important product under FDA review which we believe will enhance Sanofi’s growth profile in the coming years, CEO Olivier Brandicourt.
Given the performance in the first nine months, Sanofi now expects 2016 Business EPS to grow between 3 and 5 percent at CER, barring unforeseen major adverse events.
For earnings history and earnings-related data on Sanofi (SNY) click here.
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