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Investing.com -- Galderma raised its full-year outlook after reporting stronger-than-expected third-quarter results, sending its shares up about 7% on Thursday.
The Swiss skincare company posted quarterly net sales of $1.29 billion, topping the company-compiled consensus of $1.24 billion. Sales in the U.S. surged 17.5% from a year earlier.
Jefferies analysts led by Benjamin Jackson said the beat was "driven by both Injectable Aesthetics and Nemluvio, with the former less likely expected by investors."
By segment, Nemluvio generated $132 million in revenue during the quarter, while Injectable Aesthetics contributed $631 million and Derma Skincare $344 million.
Galderma now expects full-year net sales to grow between 17% and 17.7% at constant currency, up from its previous forecast of 12% to 14%. The company also refined its projected core EBITDA margin to a range of 23.1% to 23.6% at constant currency, compared with around 23% previously.
Jefferies analysts said the current consensus projection "is below the upgraded sales range when assuming company FX, suggesting potential c.2% top-line upgrades at the midpoint."
Galderma said its revised outlook “especially reflects the significant ramp-up of Nemluvio, which is driving growth in Therapeutic Dermatology.” It added that the improvement “also reflects the strong trajectory in Injectable Aesthetics, with continued outperformance of the market in both Neuromodulators and Fillers & Biostimulators.”
Galderma also reaffirmed plans to invest more than $650 million in U.S. manufacturing by 2030.