Published on 2 May 2024 on GuruFocus.com via Yahoo Finance
Organon & Co (OGN) Q1 2024 Earnings: Exceeds Revenue Expectations, Aligns with EPS Projections
Revenue: Reported at $1,622 million for Q1 2024, marking a 5% increase year-over-year and surpassing the estimated $1,563.20 million.Net Income: Achieved $201 million, up 14% from the previous year and exceeding the estimate of $189.92 million.Earnings Per Share (EPS): Recorded at $0.78, falling short of the estimated $0.93.Gross Margin: Declined to 59.0% from 62.3% year-over-year, reflecting higher material and distribution costs due to inflation and unfavorable product mix.Biosimilars Revenue: Grew significantly by 46% to $170 million, driven by strong demand for Ontruzant and Renflexis.Womens Health: Revenue increased by 11% to $422 million, fueled by robust sales of Nexplanon and Jada systems.Dividend: Announced a quarterly dividend of $0.28 per share, payable on June 13, 2024.
Warning! GuruFocus has detected 6 Warning Signs with OGN.