GSK plc Upgrades 2024 Guidance After Strong Q2 Performance

TL;DR

GSK CRUSHED Q2, RAISING FULL-YEAR FORECAST. BUY!

AI Summary

GSK plc reported strong Q2 2024 results with total sales of £7.9 billion, a 13% increase. The company also upgraded its full-year 2024 guidance due to broad-based performance driving sales, core profit, and core EPS growth.

Why It Matters

This upgrade suggests GSK is outperforming expectations, potentially leading to increased investor confidence and a positive impact on its stock price.

Risk Assessment

Risk Level: low — The filing reports positive financial results and guidance upgrades, indicating a favorable business outlook.

Key Numbers

• £7.9B — Q2 2024 Sales (Represents a 13% increase, indicating strong top-line growth.)

Key Players & Entities

• GSK plc (company) — Registrant
• £7.9 billion (dollar_amount) — Q2 2024 total sales
• 2024 (date) — Guidance year

FAQ

Key Financial Figures

• $1.27 — d at the closing rates on 30 June 2024 ($1.27/£1, €1.18/£1 and Yen 2

Filing Documents

• a4712y.htm (6-K) — 2639KB
• 0001654954-24-009683.txt ( ) — 2640KB

From the Filing

QUARTER RESULTS a4712y     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   Form 6-K   REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934       For the month of July 2024   Commission File Number 001-15170     GSK plc (Translation of registrant's name into English)     980 Great West Road, Brentford, Middlesex, TW8 9GS (Address of principal executive office)       Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.   Form 20-F . . . .X. . . . Form 40-F . . . . . . . .           GSK delivers continued strong performance and upgrades 2024 guidance       Broad-based performance drives sales, core profit and core EPS growth: ● Total Q2 2024 sales £7.9 billion +13%  ● Vaccines sales +1%, +3% ex COVID. Shingrix  £0.8 billion -4% ● Specialty Medicines sales +22%. HIV sales  +13%. Oncology sales more than doubled at £0.4 billion  ● General Medicines sales +12%. Trelegy  £0.8 billion +41% ● Total operating profit -22% and Total EPS -27% for Q2 2024 primarily reflected higher charges for CCL (1) remeasurements driven by improved longer term HIV prospects and foreign currency movements ● Core operating profit +18% (with further positive impact of 3% ex COVID) and Core EPS +13% (with further positive impact of 4% ex COVID). This reflected continued leverage from strong sales and favourable product and regional mix, partly offset by continued increased investment in R&D and growth assets, and lower royalty income ● Cash generated from operations in the quarter £1.7 billion with Free cash flow of £0.3 billion (Financial Performance – Q2 2024 results unless otherwise COVID-19 solutions as defined on page 60).                                 Q2 2024   Year to date   £m   % AER   % CER   £m   % AER   % CER Turnover 7,884   10   13   15,247   8   12 Turnover ex COVID 7,884   10   13   15,246   9   13 Total operating profit 1,646   (23)   (22)   3,136   (26)   (20) Total operating margin % 20.9%   (8.9ppts)   (9.1ppts)   20.6%   (9.3ppts)   (8.4ppts) Total EPS 28.8p   (28)   (27)   54.5p   (29)   (24) Core operating profit 2,513   16   18   4,956   16   22 Core operating margin % 31.9%   1.6ppts   1.3ppts   32.5%   2.3ppts   2.9ppts Core EPS 43.4p   12   13   86.5p   14   20 Cash generated from operations 1,650   2       2,776   46             Continued R&D progress with growth prospects strengthened in all key therapeutic areas: ● Infectious Diseases: FDA approval for Arexvy in adults aged 50-59 at increased risk from RSV; filings accepted for meningitis (ABCWY) vaccine ● HIV: regimen selection for CAB-ULA, and data for new 3rd generation integrase inhibitor, support portfolio progression and long-term growth outlooks ● Respiratory/Immunology: Pivotal data for depemokimab (SWIFT 1/2) support filings as first ultra-long-acting biologic for severe asthma ● Oncology: Pivotal data for Blenrep (DREAMM-8) support regulatory submissions (EU filed; US H2 2024). Data supporting expanded use of Jemperli in patients with endometrial cancer presented (regulatory decisions expected H2 2024). Approval for Omjjara received in Japan     2024 guidance upgraded; Q2 2024 dividend of 15p declared continue to expect 60p full year dividend: ● 2024 turnover growth increase of 7% to 9% (previously 5% to 7%); Core operating profit growth of 11% to 13% (previously 9% to 11%); Core EPS growth of 10% to 12% (previously 8% to 10%)   Guidance all at CER and excluding COVID-19 solutions     Emma Walmsley, Chief Executive Officer, GSK: "GSK's momentum this year continues with excellent second quarter performance, reflecting strong operational execution and the strengthening breadth of our portfolio to both prevent and treat disease. Q2 sales grew in all areas, with Specialty Medicines in particular bene

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View this 6-K filing on SEC EDGAR