Q4 24 EPS
$1.98
BEAT +11.44%
Est. $1.78
Q4 24 Revenue
$13.15B
BEAT +2.57%
Est. $12.82B
vs S&P Since Q4 24
+33.8%
BEATING MARKET
NVS +55.6% vs S&P +21.8%
Full Year 2024 Results
FY 24 EPS
$7.81
FY 24 Revenue
$50.32B
Market Reaction
Did NVS Beat Earnings? Q4 2024 Results
Novartis closed out 2024 with a notably strong fourth quarter, posting core earnings per share of $1.98 against a consensus estimate of $1.78, a beat of 11.44%, while revenue of $13.15 billion topped expectations by 2.57% and grew 11.7% year over yea… Read more Novartis closed out 2024 with a notably strong fourth quarter, posting core earnings per share of $1.98 against a consensus estimate of $1.78, a beat of 11.44%, while revenue of $13.15 billion topped expectations by 2.57% and grew 11.7% year over year. The Swiss drugmaker's outperformance was anchored by broad-based volume gains across its innovative medicines portfolio, with Entresto leading the charge at $2.18 billion in Q4 sales, up 33%, and Kesimpta and Kisqali each surging 48% to $950 million and $902 million, respectively. The US market proved especially powerful, generating $6.00 billion in quarterly sales, up 26%, as Kisqali's recently launched early breast cancer indication accelerated domestic demand. Q4 operating income climbed 37% to $3.53 billion, with core operating income margin reaching 36.9% for the quarter. Shares rose on the results, and the company issued an upbeat 2025 outlook calling for high single to low double-digit core operating income growth, excluding currency effects.
Key Takeaways
- • Entresto sustained robust demand-led growth from continued GDMT adoption in heart failure
- • Kisqali strong momentum from recently launched early breast cancer indication with 66% cc US growth
- • Kesimpta demand-driven growth across all regions with strong access in relapsing MS
- • Cosentyx growth driven by recent HS indication and IV formulation launches in the US
- • Volume contributed 15 percentage points to Q4 growth
- • Pricing had a positive 2 percentage point impact, benefiting from revenue deduction adjustments mainly in the US
- • Lower weighted average number of shares outstanding boosted EPS
- • SG&A expenses as a percentage of net sales decreased by 3.6 percentage points (cc)
NVS YoY Financials
Q4 2024 vs Q4 2023, source: SEC Filings
NVS Revenue by Segment
With YoY comparisons, source: SEC Filings
NVS Revenue by Geography
With YoY comparisons, source: SEC Filings
NVS Earnings Trends
NVS vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
NVS EPS Trend
Earnings per share: estimate vs actual
NVS Revenue Trend
Quarterly revenue: estimate vs actual
NVS Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $2.07 | $1.99 | -3.68% | $13.11B | -2.72% |
| Q4 25 BEAT FY | $2.00 | $2.03 | +1.27% | $13.34B | -5.26% |
| FY Full Year | $8.92 | $8.98 | +0.67% | $54.53B | -1.95% |
| Q3 25 MISS | $2.31 | $2.25 | -2.63% | $13.91B | +0.45% |
| Q2 25 BEAT | $2.37 | $2.42 | +1.96% | $14.05B | -0.20% |
| Q1 25 BEAT | $2.17 | $2.28 | +4.95% | $13.23B | +1.40% |
| Q4 24 BEAT FY | $1.78 | $1.98 | +11.44% | $13.15B | +2.57% |
| FY Full Year | — | $7.81 | — | $50.32B | — |