GlaxoSmithKline (GB:GSK)
LSE:GSK
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Earnings Data
Report Date
Jul 29, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.47Last Year’s EPS
0.47Same Quarter Last Year
Based on 13 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted multiple areas of commercial momentum (5% sales growth, Specialty +14%, Shingrix +20%, Jemperli +40%, HIV +10%), strong cash generation, disciplined capital allocation and an accelerated late‑stage pipeline with several positive clinical readouts (bepirovirsen, Mo‑Rez, Ris‑Rez). Several near‑term headwinds were also acknowledged: a 6% decline in General Medicines, access and phasing impacts (Trelegy co‑pay effects, Exdensur J‑code timing, Shingrix annualization), higher R&D spend and some cash timing/currency effects. Overall the positives (broad product and pipeline momentum, clear regulatory progress and strong cash/returns) outweigh the manageable near‑term operational and access challenges.Company Guidance
Top-line and profitability growth
Q1 sales grew 5% to more than GBP 7.6 billion; core operating profit rose 10%; EPS increased 9%. Gross margin improved by 110 basis points and SG&A declined 2% (underlying SG&A +2%), demonstrating P&L leverage. Cash generation was strong at GBP 1.4 billion and the company declared a Q1 dividend of 17p.
Specialty medicines and vaccine strength
Specialty Medicines sales up 14% and vaccines led by Shingrix. Shingrix delivered record quarterly sales of over GBP 1 billion, up 20% overall, with Europe up 51% (national immunization programs uptake) and the U.S. up 12% (including inventory movements and prefilled syringe launch).
HIV portfolio momentum and long‑acting pipeline
HIV sales grew 10% in Q1, with the U.S. up 15%. Cabenuva grew 31% and Apretude grew 44%; switches from competitor products accelerated (79% in the U.S.). INSTI‑led long‑acting regimens represent >70% of HIV growth and >1/3 of U.S. sales. Key programs on track: CUATRO (3x yearly Cabenuva) and registrational path for 3x yearly Apretude (data H2 2026, launch H1 2027).
Nucala COPD launch success
Nucala delivered double‑digit growth driven by U.S. COPD expansion. Total new patient starts are at their highest level, up 65% year‑on‑year, with Nucala achieving ~45% market share in U.S. COPD and capturing ~1 in 2 new COPD patients in China during early launch.
Oncology commercial progress and compelling clinical data
Jemperli sales were GBP 232 million, up 40%, supported by a 4‑year RUBY follow‑up showing a 66% reduction in risk of death in dMMR/MSI‑high endometrial cancer. Blenrep is showing growing community use (majority in U.S. community) and approvals in 19 markets. Early ADC data: Mo‑Rez showed confirmed ORR of 62% (PROC) and 67% (advanced EC) at highest doses with low ILD incidence (~3%); Hansoh data for Ris‑Rez showed 47% ORR and median PFS 14 months.
Positive Phase III readout for bepirovirsen and regulatory progress
Positive headline Phase III results for bepirovirsen (functional cure in chronic hepatitis B). Bepi has U.S. breakthrough designation, a PDUFA date of 26 Oct 2026, and has been accepted for priority review in China; commercial preparations in U.S. and China are underway.
R&D acceleration and late‑stage pipeline expansion
Company initiated 7 Phase III trials in 2025 and plans ~10 more this year, is prioritizing late‑stage investments and lifecycle decisions, and expects multiple pivotal readouts in H2 (Jemperli in rectal cancer, camlipixant, Exdensur in EGPA, 3x yearly PrEP). Business development added assets (ozureprubart, HS235) and closed the 35Pharma (HS235) transaction to expand cardiopulmonary footprint.
Strong balance sheet and capital allocation
Net debt at 1.4x EBITDA. Free cash flow benefited from a $250 million special ViiV dividend; planned portfolio transactions (Rockville divestment, linerixibat out‑license) are expected to improve net debt by ~$1.2 billion in H1 (linerixibat $400m). Shareholder returns totaled >GBP 0.9 billion and share buyback on track to complete at half year.
GB:GSK Earnings History
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
GB:GSK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 29, 2026 | 2009.72 p | 1900.71 p | -5.42% |
Feb 04, 2026 | 1912.66 p | 2044.89 p | +6.91% |
Oct 29, 2025 | 1602.07 p | 1707.32 p | +6.57% |
Apr 30, 2025 | 1363.68 p | 1412.73 p | +3.60% |
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.
FAQ
When does GlaxoSmithKline (GB:GSK) report earnings?
GlaxoSmithKline (GB:GSK) is schdueled to report earning on Jul 29, 2026, Before Open (Confirmed).
What is GlaxoSmithKline (GB:GSK) earnings time?
GlaxoSmithKline (GB:GSK) earnings time is at Jul 29, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of GlaxoSmithKline stock?
The P/E ratio of GlaxoSmithKline is N/A.
What is GB:GSK EPS forecast?
GB:GSK EPS forecast for the fiscal quarter 2026 (Q2) is 0.47.