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AstraZeneca (AZN) reported an EPS of $1.73 for Q3 2023 and $5.8 for 9M 2023.
 

Key Highlights

• Total Revenue Increase: In 9M 2023, there was a 5% increase in total revenue and a 17% increase in Core EPS compared to the same period in the previous year.
• 2023 Guidance Update: The 2023 guidance has been updated to reflect an expected low double-digit to low teens percentage increase in Core EPS.
• Revenue by Therapy and Geography: Revenue distribution by therapy area for 9M 2023 was 40% from Oncology, 23% from CVRM, and 17% from Rare Disease. Geographically, revenue was 41% from the US, 27% from Emerging Markets, 20% from Europe, and 11% from the rest of the world.

In a remarkable display of resilience and strategic execution, the latest financial results for the third quarter and the first nine months (9M) of 2023 have reflected significant growth and a positive outlook. The firm’s revenue was reported just short of expectations at $11.49 billion, and it comfortably beat the EPS forecast of $0.86 and reported an EPS of $1.73 for Q3.
 

Financial Growth and Performance

The company’s financial results for 9M 2023 showcased a robust 5% growth in total revenue, affirming the effectiveness of its diversified portfolio and commercial strategy. This uptick is further substantiated by a 17% surge in Core Earnings Per Share (EPS), underscoring the company’s enhanced profitability and shareholder value generation. The firm stated that the sales of cancer treatment drugs and growing demand in emerging markets helped offset the loss of COVID-19 vaccine sales.
 

Updated Financial Guidance

The company has revised its 2023 financial guidance, now anticipating a low double-digit to low teens percentage increase in Core EPS. This adjustment from the previous forecast signals confidence in the company’s ongoing commercial momentum and operational efficiency.
 

Revenue Breakdown

The revenue streams have been broad and varied, with Oncology contributing 40% to the total revenue. Cardiovascular, Renal, and Metabolism (CVRM) followed with 23%, while Rare Disease therapies accounted for 17%. Geographically, the United States remained the largest contributor at 41%, with Emerging Markets at 27%, Europe at 20%, and the rest at 11%.

The company’s ability to drive growth across regions and therapy areas, even excluding COVID-19 medicines, is a testament to its strategic initiatives and robust pipeline.

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