The earnings call reflects a strong performance in sales and strategic growth, especially in new product launches and the vaccines segment. However, there are concerns about increased expenses, slight gross margin decline, and impacts from healthcare policy changes. Despite these challenges, the company's growth outlook and pipeline advancements contribute to a generally positive sentiment.

Company Guidance

The call provided extensive guidance for Sanofi's performance in 2024 and set expectations for 2025. The company reported a 10.3% increase in Q4 net sales at constant exchange rates, reaching €10.6 billion, with full-year sales up 11.3% to €41.1 billion. Key drivers included new product launches like Beyfortus, which achieved blockbuster status, and Dupixent, which surpassed €13 billion in sales. The gross margin was slightly down at 74.3% due to the lack of COVID revenues, despite a 0.8% increase when excluding COVID impact. R&D expenses rose by 14.6% to €7.4 billion, in line with plans to bolster the pipeline. Business EPS rose by 4.1% to €7.12, exceeding initial guidance. Looking ahead, Sanofi expects sales growth in mid-to-high single digits and business EPS growth in low double digits for 2025, with an anticipated positive foreign exchange impact of 2% to 3%. The company also plans a €5 billion share buyback and predicts sales reductions from portfolio simplifications by €250 million. The call highlighted several pipeline advancements, including positive Phase 3 results for drugs like fitusiran and ongoing development in key areas such as RSV vaccines and immunology, underscoring Sanofi's commitment to R&D and strategic focus areas.

Double-Digit Sales Growth

Sanofi reported double-digit sales growth for the third consecutive quarter, with strong contributions from new product launches and existing products like Dupixent.

Beyfortus Achieves Blockbuster Status

Beyfortus achieved blockbuster status in its first full year of sales, with significant sales growth and expanded RSV protection to more than 6 million babies globally.

Dupixent Sales Exceed €13 Billion

Dupixent exceeded the sales target of €13 billion, driven by strong demand from over 1 million patients globally. The drug grew by 16% in Q4 alone.

Record Vaccine Sales

Sanofi's vaccines business crossed the €8 billion sales milestone, driven by Beyfortus and strong performance of the flu franchise.

Improved Access to Medicine Ranking

Sanofi improved its ranking in the 2024 access to medicine index from eighth to third place, highlighting its commitment to global health.

R&D Pipeline Progress

Sanofi's R&D efforts resulted in positive Phase 3 results for several drugs, potential launches, and regulatory progress with 21 acceptances of regulatory submissions.

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Sanofi (SNY) 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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SNY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 24, 2025	2025 (Q1)	0.84 / -	0.953	―	―	―
Jan 30, 2025	2024 (Q4)	0.70 / 0.68	0.899	-24.03% (-0.22)
Oct 25, 2024	2024 (Q3)	1.35 / 1.55	1.349	14.83% (+0.20)
Jul 25, 2024	2024 (Q2)	0.89 / 0.94	0.96	-2.19% (-0.02)
Apr 25, 2024	2024 (Q1)	0.93 / 0.95	1.189	-19.85% (-0.24)
Feb 01, 2024	2023 (Q4)	0.94 / 0.90	0.928	-3.13% (-0.03)
Oct 27, 2023	2023 (Q3)	1.37 / 1.35	1.433	-5.86% (-0.08)
Jul 28, 2023	2023 (Q2)	0.93 / 0.96	0.878	9.34% (+0.08)
Apr 27, 2023	2023 (Q1)	1.10 / 1.19	1.015	17.14% (+0.17)
Feb 03, 2023	2022 (Q4)	0.92 / 0.93	0.785	18.22% (+0.14)

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

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SNY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 30, 2025	$52.15	$54.15	+3.84%
Oct 25, 2024	$52.05	$54.34	+4.40%
Jul 25, 2024	$51.20	$53.10	+3.71%
Apr 25, 2024	$45.23	$47.90	+5.90%

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.

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