What You Need To Know Ahead of Novo Nordisk Earnings Wednesday

3 months ago

Novo Nordisk (NVO) is group to study net for nan 2nd 4th connected Wednesday greeting aft a first half successful which nan company's marketplace of imaginable customers for its Ozempic and Wegovy weight-loss narcotics expanded.

Analysts task that Novo Nordisk's drugs will thief assistance nan Danish drugmaker's gross and income. Analyst estimates compiled by Visible Alpha task Novo Nordisk will study a year-over-year jump of astir 26% successful gross to 68.47 cardinal Danish kroner ($9.9 billion), pinch a emergence of astir 10% successful profit to 21.27 cardinal kroner ($3.08 billion).

	Analyst Estimates for Q2 2024	Q1 2024	Q2 2023
Revenue	68.47 cardinal kroner ($9.9 billion)	65.35 cardinal kroner	54.3 cardinal kroner
Diluted EPS	4.76 kroner (69 cents)	5.68 kroner	4.31 kroner
Net Income	21.27 cardinal kroner ($3.08 billion)	25.41 cardinal kroner	19.43 cardinal kroner

Key Metric: Ozempic, Wegovy Sales

In nan first quarter, Novo Nordisk said income of Ozempic and Wegovy roseate 25% twelvemonth complete twelvemonth and said that request would apt proceed to outpace proviso for nan remainder of 2024.

The weight-loss supplier income led Novo Nordisk to assistance its guidance for nan year, projecting gross maturation betwixt 19% to 27%, somewhat up from a erstwhile projection of 18% to 26%.

Investors could expect that guidance to emergence again erstwhile nan institution reports Wednesday. Novo Nordisk said successful May that its updated figures included expectations that nan narcotics would look proviso constraints complete nan people of 2024, and that gross could turn further depending connected nan company's investments successful accumulation capacity.

Business Spotlight: Weight-Loss Drug Production, Market Expansion

Novo Nordisk and Eli Lilly (LLY) person some said that nan booming fame of their weight-loss narcotics has meant their proviso will apt lag request arsenic they activity to summation production. For its part, Novo Nordisk has made acquisitions and investments to bolster its accumulation capabilities for nan drugs, including a $4.1 cardinal scheme to grow its accommodation successful North Carolina by 2029.

Ozempic and Wegovy besides person been introduced to caller markets like China complete nan first half of nan twelvemonth and studies complete nan past twelvemonth person besides led regulators to support updating nan drugs' labels to see grounds that they tin person positive cardiovascular impacts on pinch their weight-loss benefits.

Wegovy besides has received support to commencement being sold successful Australia, further expanding nan drug's market, Reuters reported Thursday.

American depositary receipts (ADRs) of Novo Nordisk vanished Thursday astir level and astir 28% supra wherever they started nan year.

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