Evotec SE

EVT: XETR (DEU)

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Evotec Earnings: Market Weakness Lingers; Focus on Cost Discipline for Long-Term Growth

Rachel Elfman ,

Nov 7, 2024

No-moat Evotec’s third-quarter results were roughly in line with our expectations, and we are maintaining our fair value estimate of EUR 8.50 and $4.63 per share. In the first nine months of 2024, the Just-Evotec Biologics segment delivered impressive revenue growth of 74% compared with the prior-year period. However, this was partially offset by a 12% decline in revenue from the shared R&D segment, which remains under pressure in a challenging market environment. Shares are currently trading approximately 15% below our fair value estimate.

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Evotec SE

Evotec Earnings: Market Weakness Lingers; Focus on Cost Discipline for Long-Term Growth

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