Novartis (NOTA) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Apr 28, 2026

TBA (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

1.79

Last Year’s EPS

1.94

Same Quarter Last Year

Analyst Consensus

Hold

Based on 5 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 04, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveyed strong multi-product commercial momentum, record profitability and cash generation, and a robust late-stage pipeline with multiple potential catalysts in 2026. Management acknowledged notable near-term headwinds — chiefly mid-2025 generic entries (Entresto, Promacta, Tasigna), noisy Q4 gross-to-net adjustments, the largest GX impact expected in 2026, and some clinical/regulatory timing uncertainties (pelacarsen event rates, remibrutinib monitoring, zigakibart timing). However, the breadth of blockbuster growth across key brands, record margins and cash flow, clear capital allocation, and a defined plan to return to 40%+ core margins by 2029 outweigh the near-term challenges.

Company Guidance

Novartis guided 2026 sales to grow low single‑digit while core operating income is expected to decline low single‑digit (reflecting a 1–2 percentage‑point core‑margin dilution from the Avidity deal); core net financial expenses are expected at about $1.7 billion and the core tax rate around 16.5%. Management said 2026 will be a year of two halves — H1 sales down low single‑digit and H1 core operating income down low double‑digit (Q1 also affected by a ~2% positive gross‑to‑net in the Q1‑2025 base), then H2 sales up mid‑single‑digit and H2 core operating income up mid‑ to high‑single‑digit — producing the full‑year low‑single‑digit top‑line guidance; at late‑January FX levels they expect a ~+2–3 percentage‑point boost to sales and ~+1 percentage‑point to core operating income. They reiterated a 5–6% sales CAGR for 2025–2030 and a return to 40%+ core margin in 2029 (after achieving a 40.1% core margin, $21.9B core operating income, $8.98 core EPS and $17.6B free cash flow in 2025), and announced a proposed dividend of CHF 3.70 (up 6%) plus a new up‑to‑$10B buyback (≈$7.7B remaining).

Full-Year Sales and Profitability

FY2025 sales up 8% (constant currency); Core operating income up 14% to $21.9 billion; achieved 40.1% core margin (target met 2 years early); core EPS up 17% to $8.98; record free cash flow $17.6 billion (+8%).

Kisqali Strong Growth and Market Traction

Kisqali up 57% for the year (Q4 growth 44%; adjusted global growth 54%; U.S. +62% when removing RD adjustments). Management reiterates $10 billion peak sales outlook and notes >60% U.S. eBC NBRx and >80% NBRx share in Germany early breast cancer.

Multiple Blockbuster Brand Performances

Kesimpta +36% to $4.4 billion (expanding first-line adoption to ~50% of NBRx); Pluvicto +42% CC, reached $2 billion (U.S. pre-taxane +75%, PSMA share up 4x to 16%); Scemblix blockbuster with Q4 +87% and 41% U.S. NBRx share across all lines; Leqvio blockbuster (FY +57%, Q4 +46%).

Cosentyx and Specialty Launches

Cosentyx up 8% to $6.7 billion (Q4 +11%); #1 prescribed IL-17 across indications; U.S. growth driven by hidradenitis and IV revenue; U.S. polymyalgia rheumatica submission completed.

Renal Portfolio and Lifecycle Advances

IgAN brands (Vanrafia, Fabhalta) drove 50% of NBRx market growth year-over-year; Fabhalta approved in C3G in 45 countries; management expects full eGFR datasets and filings for Fabhalta and Vanrafia in H1 2026.

Rhapsido Launch Momentum

U.S. launch showing encouraging early demand: >2,000 HCP starts via sampling/bridge program, positive feedback from allergists/dermatologists, expect stronger uptake as access expands (notable pick-up expected in 2H2026).

Pelabresib & Other Pipeline Advances

Pelabresib 96-week MANIFEST data showed deep/durable responses and comparable safety vs ruxolitinib; EU filing path in 2026 and new U.S./China/Japan Phase III planned targeting high-TSS50 patients. Company expects 7 pivotal readouts in 2026 to drive midterm outlook.

Global Health Progress

KLU156 (ganaplacide + lumefantrine) shows strong malaria cure rates (adjusted 99.2% vs 96.4% comparator) and potential to be first new malaria medicine in ~25 years, supporting Novartis' global health mission.

Capital Allocation and Shareholder Returns

Invested >$10 billion in R&D (+8% YoY); completed $15 billion buyback and launched new up-to-$10 billion buyback (≈$7.7 billion remaining); proposing CHF 3.70 dividend (+6% in CHF; 29th consecutive CHF increase).

Novartis (DE:NOTA) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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DE:NOTA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 28, 2026	2026 (Q1)	1.79 / -	1.936	―	―	―
Feb 04, 2026	2025 (Q4)	1.68 / 1.72	1.681	2.53% (+0.04)
Oct 28, 2025	2025 (Q3)	1.93 / 1.91	1.749	9.22% (+0.16)
Jul 17, 2025	2025 (Q2)	2.00 / 2.05	1.672	22.84% (+0.38)
Apr 29, 2025	2025 (Q1)	1.79 / 1.94	1.528	26.67% (+0.41)
Jan 31, 2025	2024 (Q4)	1.53 / 1.68	1.299	29.41% (+0.38)
Oct 29, 2024	2024 (Q3)	1.65 / 1.75	1.477	18.39% (+0.27)
Jul 18, 2024	2024 (Q2)	1.57 / 1.67	1.472	13.61% (+0.20)
Apr 23, 2024	2024 (Q1)	1.42 / 1.53	1.376	11.04% (+0.15)
Jan 31, 2024	2023 (Q4)	1.40 / 1.30	1.223	6.18% (+0.08)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

DE:NOTA Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 04, 2026	€125.50	€129.00	+2.79%
Oct 28, 2025	€110.00	€105.00	-4.55%
Jul 17, 2025	€100.50	€104.00	+3.48%
Apr 29, 2025	€99.20	€101.00	+1.81%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.