GlaxoSmithKline (GSK) Reports In-Line Q4 EPS of 21p; Guides FY14
(Updated - April 30, 2014 7:05 AM EDT)
GlaxoSmithKline (NYSE: GSK) reported Q4 EPS of GBP0.21, in-line with the analyst estimate of GBP0.21.
Quarter highlights/key points:
- Pharmaceutical and Vaccines sales growth in all major regions except US: Europe +3%, Emerging Markets +2%, Japan +13%. US (-10%) impacted by continued competition in respiratory market and quarterly volatility in wholesaler/retailer stocking patterns
- HIV sales +4%, driven by uptake of recently launched integrase inhibitor, Tivicay
- Vaccines sales +3%, with US growth partly offset by phasing of tenders in Emerging Markets
- Consumer Healthcare sales flat with Rest of World growth (+6%) offsetting the impact in US and Europe of temporary supply interruptions to certain products
- Continued progress in strategy to renew and diversify respiratory portfolio
- Continued R&D momentum expected to continue with around 40 NMEs currently in phase II/III clinical development
- First quarter dividend +6% to 19p. Share buy backs of £1-2 billion targeted during 2014
- Full year guidance of core EPS growth of 4-8% CER reiterated. Sales expected to grow in CER terms and on an ex-divestment basis
- Major three-part transaction announced with Novartis intended to strengthen sustainability of Group sales base and improve long term earnings outlook. Completion, subject to shareholder and regulatory approval, expected by H1 2015
For earnings history and earnings-related data on GlaxoSmithKline (GSK) click here.