GlaxoSmithKline Q2 Shingrix sales down 16%; EPS guidance maintained

GlaxoSmithKline (GSK) Q2 results (£):

Revenues: 7,624M (-2.4%); R&D Expense: 4,102M (-4.8%); SG&A: 1,133M (-28.5%); Operating Income: 2,389M (+24.6%).

Key product sales: Shingrix: 323M (-16%); Ellipta: 642M (+15%); Tivicay: 373M (-9%); Triumeq: 586M (-9%); Nucala: 241M (+24%); Benlysta: 177M (+18%); Seretide/Advair: 421M (+2%); Flixotide/Flovent: 117M (-7%); Ventolin: 144M (-39%); Augmentin: $100M (-25%); Bexsero: 108M (-21%); Infanrix, Pediarix: 119M (-39%); Rotarix: 128M (+10%); Juluca: 113M (+24%).

Net Income: 2,263M (+134.8%); EPS: 0.46 (+130.0%); non-GAAP Net Income: 958M (-36.5%); non-GAAP EPS: $0.19 (-38.7%).

CF Ops (3 months): 2,760M (+98.7%).

While the company maintains non-GAAP EPS of (1%) to (4%) for FY 2020, they said there remain “notable risks” to business performance over the balance of the year.

Earlier today, GSK along with Sanofi inked a COVID vaccine supply deal with the U.K.

Shares are down 1.5% premarket.

Previously: GlaxoSmithKline EPS misses by £0.01, misses on revenue (July 29)

https://seekingalpha.com/news/3596629-glaxosmithkline-q2-shingrix-sales-down-16-eps-guidance-maintained