DexCom earnings beat by $0.03, revenue topped estimates
Investing.com -- Galderma (SIX:GALD) shares jumped more than 6% on Thursday after the Swiss skincare company reported better-than-expected first-half earnings and raised its full-year sales forecast, citing strong uptake of Nemluvio and growth in injectable aesthetics.
First-half net sales reached $2.45 billion, 12.2% higher year over year at constant exchange rates (CER), and 3% ahead of consensus estimates of $2.38 billion.
Core EBITDA rose to $555 million, exceeding the $511 million consensus by 9%. The core EBITDA margin stood at 22.7%, compared with 21.5% expected.
Therapeutic dermatology posted a 26% year-over-year increase to $489 million, led by Nemluvio, which generated $131 million in sales.
That figure came in above consensus of $99 million and Jefferies’ estimate of $112 million.
According to the company, more than 70% of commercially insured lives in the U.S. now have first-line access to Nemluvio.
Injectable aesthetics sales totaled $1.24 billion, up 9% from a year earlier and 2% above consensus.
Both neuromodulators and fillers recorded double-digit growth in U.S. and international markets.
Galderma said Relfydess continued to outperform expectations, aided in part by stocking tied to multiple launches.
Fillers and biostimulators gained share despite continued softness and elevated promotional activity in the U.S.
Dermatological skincare reported $719 million in sales, up 7% from the prior year and roughly in line with consensus.
Operating income rose 14% to $358 million. Core net income climbed 57% to $329 million, beating consensus of $290 million.
Net income increased to $194 million from $47 million in the prior-year period. Core earnings per share were $1.39, ahead of the $1.20 consensus and up from $0.88 last year.
Galderma raised its 2025 sales growth guidance to 12%-14% CER, up from 10%-12%. This implies full-year revenue of $4.91 billion to $5 billion, assuming Jefferies’ estimated foreign exchange impact of 0.6%.
Core EBITDA margin guidance was reiterated at around 23%, indicating full-year EBITDA of $1.12 billion to $1.16 billion. Jefferies expects 24.1%, or $1.16 billion, while consensus stands at $1.13 billion.
The company noted potential second-half impacts on neuromodulators from Relfydess stocking and a high comparison base in Latin America. Despite this, full-year growth for the segment is expected to remain in the low teens.
“We are already slightly more optimistic than cons on Core EBITDA, partially down to improved mix on higher Nemluvio,” said analysts at Jefferies in a note.