GSK Posts Higher Q4 Sales, Profits, With Record Sales From Shingles Vaccine

GSK Plc GSK reported an adjusted fourth-quarter profit of 25.8 pence per share on sales of about £7.4 billion, up 4.2% Y/Y.
GSK said its blockbuster shingles treatment brought in £3 billion in sales after 72% growth year on year.
Meanwhile, vaccine revenues increased by 17% to £7.9 billion for the year.
In Q4 FY22, Shingrix sales grew 29% at AER and 18% at CER to £769 million, reflecting post-pandemic rebound, strong commercial execution, and new launch uptake in Europe and internationally.
Adjusted operating profit was £1.6 billion, up 21% at AER and 5% at CER on a turnover decrease of 3% at CER.
The adjusted operating margin of 21.6% was higher by 3.0 percentage points at AER and 1.5 percentage points at CER than in Q4 2021, reflecting the impact of lower sales of COVID-19.
Emma Walmsley, chief executive officer of GSK, said, "2022 was a landmark year for GSK delivering the step change in performance we committed to, driven by strong growth in specialty medicines and vaccines, including record sales for Shingrix. We enter 2023 with good momentum, underpinning confidence in our ambitious sales and profit outlooks for 2026".
Guidance: GSK forecasts to record turnover growth of 6% and 8% for 2023, adjusted operating profit to increase 10%-12%, and EPS between 12%-15%.
GSK does not anticipate significant COVID-19 pandemic-related sales or operating profit in 2023. Sales of COVID-19 solutions were £2.4 billion in 2022.
Price Action: GSK shares are down 0.48% at $35.09 during the premarket session on the last check Wednesday.

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