Sartorius Stock Climbs After Sales, Earnings Beat Expectations

By David Sachs

Sartorius shares rose Friday after the company's fourth-quarter sales and earnings beat expectations.

At 0832 GMT, shares in the Germany-based pharmaceutical supplier were up 8.3% at EUR327.00 after rising as high as EUR338.60.

The group's sales of 850 million euros ($922.1 million) represented a 17% drop at constant currency from the prior year, but were 5% above Berenberg's expectations, analysts from the German bank said.

Sartorius's quarterly earnings before interest, taxes, depreciation and amortization of EUR230 million beat the Visible Alpha consensus by around 6%, Berenberg said.

The company's ratio of new orders to completed sales, along with its 2024 outlook, should encourage traders, Jefferies analysts said in a in a research note. Sartorius said it expects a revenue increase in the mid-to-high single-digit percentage range in 2024 with an underlying profit margin of more than 30%, which the analysts said is better than expected.

Write to David Sachs at david.sachs@wsj.com

(END) Dow Jones Newswires

January 26, 2024 04:02 ET (09:02 GMT)

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