Organon & Co. ( (OGN) ) has released its Q3 earnings. Here is a breakdown of the information Organon & Co. presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Organon & Co. is a global healthcare company focused on improving women’s health, offering a broad portfolio of more than 60 medicines and products across women’s health, biosimilars, and established medicines. The company recently released its third-quarter 2024 earnings, reporting a revenue increase to $1.582 billion, representing a 4% growth as-reported and 5% at constant currency. The diluted earnings per share were $1.38, while non-GAAP adjusted diluted EPS stood at $0.87, both figures including significant expenses for acquired in-process research and development.
In the third quarter, Organon recorded a net income of $359 million and an adjusted EBITDA of $459 million. The company’s largest product, Nexplanon, is on track to achieve $1 billion in revenue next year, supported by other growth drivers such as Emgality and VTAMA. The Women’s Health segment saw a 5% revenue increase, and Biosimilars marked a 16% rise, driven by the uptake of Hadlima in the U.S. Despite a decline in sales of NuvaRing due to generic competition, the overall performance was bolstered by disciplined cost management.
Organon’s guidance for the full year 2024 revenue has been narrowed to a range of $6.375 billion to $6.425 billion, with an adjusted EBITDA margin expected between 30.0% and 31.0%. The company is focused on operational efficiency and anticipates generating $1 billion in free cash flow before one-time costs for the year. As of the end of September 2024, Organon had cash and cash equivalents of $763 million and a debt of $8.7 billion.
Looking ahead, Organon remains committed to its strategic focus on women’s health and biosimilars while leveraging its global commercial capabilities to explore new growth opportunities. The company continues to navigate market challenges and competitive pressures with a disciplined approach to cost management and strategic investments.
