Dow Jones Newswires: Sanofi profit narrowly beats forecasts, sees stronger earnings growth in 2023
Sanofi SA on Friday posted rising earnings and sales for the fourth quarter and said it expects its earnings per share to grow in 2023.
The French pharma major
reported net profit of 1.46 billion euros ($1.59 billion) for the quarter, up from EUR1.13 billion in the same quarter of 2021, on sales that grew to EUR10.73 billion from EUR9.99 billion in the previous year.
Business net income–a key metric that excludes some items–was EUR2.14 billion in the quarter, up from the year-earlier period’s EUR1.73 billion, the company said. Business earnings per share grew 24% on year and reached EUR1.71 in the quarter, Sanofi said.
Analysts had expected business net income of EUR2.13 billion in the quarter, and business EPS of EUR1.70.
Consensus saw fourth-quarter sales at EUR10.96 billion.
For 2023, the company said it expects business EPS to grow in the low single digits at constant exchange rates, with a currency impact of between minus 3.5% and minus 4.5%.
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