Organon Reports Strong Financial Performance for Q1 2024
Monday, 6 May 2024, 14:53
Earnings Summary
Pharmaceutical company Organon & Co. (NYSE: OGN) has reported higher revenues and adjusted earnings for the first quarter of 2024.
Key Highlights:
- Revenue Growth: First-quarter revenue increased by 5% on an as-reported basis and 7% at constant currency.
- Segment Performance: Women's Health revenue rose by 11%, while Biosimilars revenue surged by 46%. However, Established Brands revenue was stagnant.
- Profitability Metrics: Reported earnings per share stood at $0.78, while adjusted earnings per share reached $1.22. Net income for the quarter totaled $201 million, with adjusted EBITDA at $538 million. Gross margin was 59.0% (reported) and 62.1% (adjusted).
- Margins: Adjusted EBITDA margin declined to 33.2% from 33.7% compared to the previous year.
The post Earnings Summary: Organon reports financial results for Q1 2024 first appeared on AlphaStreet.
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