The earnings call reflects strong financial performance and growth in specialty medicines, particularly in oncology and HIV. However, there are notable challenges in the vaccines segment and financial impacts from litigation and regulatory changes. Overall, the positive aspects and future growth prospects outweigh the current challenges.

Company Guidance

During the call, GSK outlined its strong performance for 2024, highlighting an 8% increase in sales to over £31 billion and a 13% rise in core operating profit, which contributed to a 12% growth in core EPS. The company upgraded its guidance twice in 2024 and announced a dividend increase to 61p per share. Specialty medicines showed robust momentum with double-digit growth across all therapy areas, notably doubling oncology sales to over £1.4 billion. GSK anticipates further growth in 2025, expecting sales to increase by 3% to 5% and core operating profit by 6% to 8%, supported by promising pipeline developments, including five new product approvals. The company's long-term outlook was revised upward, projecting risk-adjusted sales exceeding £40 billion by 2031, with more than 50% of sales driven by Specialty Medicines. Additionally, GSK announced plans for a £2 billion share buyback over 18 months, reflecting confidence in its strategic trajectory and balance sheet strength.

Strong Financial Performance

Sales grew 8% to over £31 billion, core operating profit increased by 13%, and core EPS rose by 12% for 2024. This performance led to two upgrades in guidance and an increased dividend of 61p per share.

Specialty Medicines and Oncology Growth

Specialty medicines saw a 19% growth with oncology sales nearly doubling to over £1.4 billion. Blenrep is expected to launch with a significant potential impact on future sales.

HIV Segment Success

HIV sales increased by 13% in 2024, driven by strong demand for Cabenuva and Apretude, with a 47% growth for Cabenuva reaching over £1 billion.

Strong Balance Sheet and Shareholder Returns

Net debt reduced to £13 billion, and a £2 billion share buyback program was announced, alongside a 5% increase in the dividend.

R&D Achievements and Pipeline Progress

13 positive Phase 3 readouts were achieved in 2024, with new product approvals expected in 2025 for Blenrep, depemokimab, and others.

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GlaxoSmithKline (GSK) 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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GSK Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 30, 2025	2025 (Q1)	1.02 / -	1.077	―	―	―
Feb 05, 2025	2024 (Q4)	0.49 / 0.58	0.736	-21.06% (-0.16)
Oct 30, 2024	2024 (Q3)	1.15 / 1.29	1.222	5.81% (+0.07)
Jul 31, 2024	2024 (Q2)	0.98 / 1.11	1.003	11.17% (+0.11)
May 01, 2024	2024 (Q1)	0.92 / 1.08	0.923	16.68% (+0.15)
Jan 31, 2024	2023 (Q4)	0.74 / 0.74	0.636	15.72% (+0.10)
Nov 01, 2023	2023 (Q3)	1.11 / 1.22	1.075	13.67% (+0.15)
Jul 26, 2023	2023 (Q2)	0.89 / 1.00	0.835	20.12% (+0.17)
Apr 26, 2023	2023 (Q1)	0.83 / 0.92	0.829	11.34% (+0.09)
Feb 01, 2023	2022 (Q4)	0.55 / 0.64	0.701	-9.27% (-0.06)

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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GSK Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 05, 2025	$34.84	$37.70	+8.21%
Oct 30, 2024	$37.75	$36.60	-3.05%
Jul 31, 2024	$38.97	$37.99	-2.51%
May 01, 2024	$40.28	$41.38	+2.73%

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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