Stock Analysis
Novo Nordisk First Quarter 2024 Earnings: Beats Expectations
Novo Nordisk (CPH:NOVO B) First Quarter 2024 Results
Key Financial Results
- Revenue: kr.65.3b (up 23% from 1Q 2023).
- Net income: kr.25.4b (up 28% from 1Q 2023).
- Profit margin: 39% (up from 37% in 1Q 2023). The increase in margin was driven by higher revenue.
- EPS: kr.5.70 (up from kr.4.40 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Novo Nordisk Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) also surpassed analyst estimates by 9.5%.
Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Pharmaceuticals industry in Europe.
Performance of the market in Denmark.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
It's necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Novo Nordisk (at least 1 which is a bit unpleasant), and understanding them should be part of your investment process.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
About CPSE:NOVO B
Novo Nordisk
Engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally.
Solid track record with reasonable growth potential.