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Novo Nordisk Q3 sales up 4%; net income up 18%; cash flow ops up 26%; softer guidance sinks shares, down 13% premarket

Published 10/28/2016, 08:47 AM
Novo Nordisk Q3 sales up 4%; net income up 18%; cash flow ops up 26%; softer guidance sinks shares, down 13% premarket
NOVOb
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  • Novo Nordisk (CO:NOVOb) Q3 results ($M): Net Sales: 4,130 (+3.5%); Diabetes and Obesity Care: 1,480 (+9.4%); Biopharmaceuticals: 383 (-11.1%).
  • Modern Insulin: 1,765 (-5.2%); Victoza: 766 (+9.9%); Human Insulin: 414 (+0.2%); New-Generation Insulin: 171 (+205.4%).
  • Net Income: 1,470 (+17.7%); Earnings/ADR: 0.58 (+20.8%); CF Ops: 2,277 (+26.4%).
  • 2016 Guidance: Sales Growth: 5 - 6% from 5 - 7%; Adjusted Operating Profit: 5 - 7% from 5 - 8%.
  • 2017 Guidance will be released on February 2.
  • Long-term financial targets: Operating profit growth: 5% from 10%; Operating profit after tax/operating assets: 125% (unch); Cash to earnings: 90% (unch).
  • Consensus view was earnings/ADR of $0.56 on revenues of $4.1B.
  • Shares are down 13% premarket on robust volume.

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