Evotec slashes 2026 guidance on milestone delays and partnership shifts
Evotec slashes 2026 guidance on milestone delays and partnership shifts, driving 21% premarket drop
- Announced prelim H1 2026 results July 13: rev ~€300m, adj EBITDA -€43m
- Cut FY2026 rev outlook to €570-610m from prior €700-780m
- Flipped adj EBITDA guidance to -€70/-105m from prior €0-40m
- ~40% of revenue difference now expected in 2027 due to phasing
- 45% tied to strategic partner delays beyond Q4 2026
- Base business solid with D&PD sales +28% YoY; Horizon savings on track
- Webcast scheduled for July 14 morning as stock reacted further in premarket
- No other news; guidance miss is clear verifiable catalyst per reports
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