Organon & Co (NYSE:OGN)
$ 19.49 -0.69 (-3.42%) Market Cap: 5.02 Bil Enterprise Value: 13.15 Bil PE Ratio: 5.19 PB Ratio: 36.10 GF Score: 76/100
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Q2 2024 Organon & Co Earnings Call Transcript

Aug 06, 2024 / 12:30PM GMT
Release Date Price: $18.65 (-7.63%)

Key Points

Positve
  • Revenue for Q2 2024 was $1.6 billion, representing a 2% growth rate at constant currency.
  • The biosimilars franchise grew 22%, showing strong performance.
  • Adjusted EBITDA was $513 million, representing a 31.9% adjusted EBITDA margin.
  • NEXPLANON showed significant growth, up 13% ex-FX in the second quarter.
  • The company is on track to deliver its third consecutive year of constant currency revenue growth.
Negative
  • The established brands franchise was down 1% in Q2 2024.
  • Global fertility business declined by 8% ex-FX in the second quarter.
  • Adjusted gross margin decreased to 62% from 62.9% in the same quarter last year.
  • Year-to-date non-GAAP adjusted net income decreased to $289 million from $336 million in 2023.
  • China's revenue was down 4% ex-FX in the quarter, with slower-than-expected rollout of ART reimbursement.
Operator

Thank you for standing by. My name is Mandeep, and I'll be your operator today. At this time, I'd like to welcome everyone to the Organon Q2 2024 earnings call webcast. (Operator Instructions)

I would now like to turn the call over to Jennifer Halchak, Head of Investor Relations. You may begin.

Jennifer Halchak
Organon & Co - Head, Investor Relations

Thank you, operator. Good morning, everyone. Thank you for joining Organon's second-quarter 2024 earnings call. With me today are Kevin Ali, Organon's Chief Executive Officer; and Matt Walsh, our Chief Financial Officer. Also joining us for the Q&A portion of this call is Organon's Head of R&D, Juan Camilo Ariona Ferreira.

Today, we will be referencing a presentation that will be visible during this call for those of you on our webcast. This presentation will also be available following this call on the Events & Presentations section of our Organon Investor Relations website at www.organon.com.

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