- Haleon’s 1H organic revenue growth was 3.5%, a slight miss from the estimate of 3.54%.
- Oral Health organic revenue grew by 9.9%, beating the estimate of 9.56%.
- Pain Relief organic revenue fell by 4.4%, missing the estimate of -2.9%.
- VMS organic revenue increased by 9.2%, above the estimate of 8.61%.
- Respiratory Health organic revenue declined by 2.3%, below the estimate of -0.78%.
- Digestive Health & Other organic revenue rose by 4.9%, exceeding the estimate of 2.73%.
- North America organic revenue decreased by 1.3%, missing the estimate of -0.82%.
- APAC organic revenue grew by 3.5%, in line with the estimate of 3.35%.
- EMEA & LatAm organic revenue increased by 7.9%, topping the estimate of 7.14%.
- Total revenue was GBP5.69 billion, slightly above the estimate of GBP5.68 billion.
- Oral Health revenue was GBP1.68 billion, marginally above the estimate of GBP1.67 billion.
- VMS revenue reached GBP857 million, higher than the estimate of GBP848.5 million.
- Pain Relief revenue was GBP1.30 billion, surpassing the estimate of GBP1.27 billion.
- Respiratory Health revenue was GBP788 million, slightly below the estimate of GBP801.7 million.
- Digestive Health and Other revenue amounted to GBP1.06 billion, above the estimate of GBP1.03 billion.
- North America revenue was GBP1.96 billion, just below the estimate of GBP1.97 billion.
- EMEA & LatAm revenue was GBP2.42 billion, exceeding the estimate of GBP2.38 billion.
- APAC revenue matched the estimate at GBP1.32 billion.
- Volume decreased by 0.8%, compared to an estimate of -0.67%.
- Pricing increased by 4.3%, slightly above the estimate of 4.2%.
- Adjusted operating profit was GBP1.29 billion, exceeding the estimate of GBP1.27 billion.
- North America adjusted operating profit was GBP416 million, below the estimate of GBP464.8 million.
- EMEA & LatAm adjusted operating profit was GBP627 million, above the estimate of GBP553.7 million.
- APAC adjusted operating profit was GBP306 million, higher than the estimate of GBP301.4 million.
- Adjusted operating margin was 22.7%, slightly better than the estimate of 22.3%.
- North America adjusted operating margin was 21.3%, compared to the previous year’s 23% and below the estimate of 23.6%.
- EMEA & LatAm adjusted operating margin was 25.9%, higher than last year’s 23.3% and the estimate of 23.2%.
- APAC adjusted operating margin stood at 23.2%, matching the previous year’s and above the estimate of 22.8%.
- Adjusted EPS was 9.0p, beating the estimate of 8.8p.
- Free cash flow was GBP831 million.
- Pretax profit was GBP996 million, up 3.8% year-over-year, and slightly above the estimate of GBP992.3 million.
- Forecast for the year: Still sees organic revenue growth between 4% and 6%, with an estimate of 4.75%.
- Updating Guidance for FY2024, expects high-single-digit organic operating profit growth.
- Starts a share buyback program up to £185 million.
- 3-year £300 million productivity program is on track, delivering efficiencies.
- Launches an on-market share buyback program today.
- Analyst recommendations: 12 buys, 6 holds, 1 sell.
A look at Haleon Smart Scores
Factor Score Magnitude Value 3 Dividend 2 Growth 3 Resilience 2 Momentum 4 OVERALL SMART SCORE 2.8 Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, Haleon’s long-term outlook appears positive overall, with strong momentum and a decent value score. The company’s high momentum score suggests that it is performing well in the market currently. While its value score indicates that it may be attractively priced relative to its fundamentals. However, Haleon’s scores in areas such as dividend, growth, and resilience are average, which may indicate some areas for potential improvement in the future. Overall, Haleon seems to have a solid foundation with room for growth and development.
Haleon PLC, a provider of consumer healthcare products, offers a range of therapeutic oral health, vitamins, cold and flu remedies, minerals and supplements, pain relief, and digestive health products to customers globally. With its diversified product portfolio, the company has the opportunity to cater to various health needs and potentially expand its market reach. Despite some average scores in certain areas, Haleon’s overall outlook is promising, supported by its strong momentum factor and decent value score.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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Haleon (HLN) Earnings: 1H Revenue Misses Estimates Despite Strong Oral Health Performance
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