Novartis AG (NVS) reported that its fourth-quarter net income was $2.1 billion, up 86% from last year, driven by higher operating income and benefiting from lower taxes. Quarterly net income was up 93% at constant currencies basis. Earnings per share for the fourth-quarter were $0.92 up 84% or 93% at constant currencies basis, from the prior year.
At constant currencies basis, the company expects net sales to grow low to mid single digit; core operating income to grow mid single digit, ahead of sales for fiscal year 2021.
Operating income for the fourth-quarter was $2.6 billion, up 45% or 51% at constant currencies basis from the previous year, mainly due to lower impairments, lower legal charges and income from contingent receivables.
Core earnings per share was $1.34 up 2% or 3% at constant currencies basis from the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.36 per share for the fourth-quarter. Analysts' estimates typically exclude special items.
Net sales were $12.77 billion up 3% or 1% at constant currencies basis from the previous year, driven by volume growth of 6 percentage points, offset by price erosion of 2 percentage points and the negative impact from generic competition of 3 percentage points. Analysts expected revenues of $12.87 billion for the quarter.
The company's board has proposed a dividend payment of 3.00 Swiss francs per share for 2020, up 1.7% from 2.95 francs per share in the prior year.
The company's board has proposed that shareholders authorize the Board of Directors to repurchase shares up to a maximum of 10 billion francs between the annual general meeting 2021 and the annual general meeting 2024.
https://www.nasdaq.com/articles/novartis-q4-profit-rises-but-results-miss-view-2021-01-26
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.