Sanofi Raises Full-Year Business EPS Guidance Despite 2Q Loss Swing
July 29 2019 - 2:16AM
Dow Jones News
By Anthony Shevlin
Sanofi SA (SAN.FR) said Monday that it posted a loss in the
second quarter, in part due to restructuring costs, but that it is
confident in its growth outlook for the year and thus raised its
full-year business earnings per share guidance.
Net loss in the second quarter was 87 million euros ($96.8
million) compared with a profit of EUR762 million the year
prior.
Sales for the period rose 5.5% to EUR8.63 billion.
Business net income, the company's term for adjusted income
excluding the impact of acquisitions and divestments, rose to
EUR1.64 billion from EUR1.56 billion last year.
Sanofi raised its full-year business EPS guidance and now
expects it to grow around 5%.
Sanofi Chief Executive Olivier Brandicourt said the company is
confident in its growth outlook for the year.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com;
@anthony_shevlin
(END) Dow Jones Newswires
July 29, 2019 02:01 ET (06:01 GMT)
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