Sartorius downgrades 2023 outlook amid lower sales and earnings

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Sartorius downgrades 2023 outlook amid lower sales and earnings
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German life science firm, Sartorius, has revised its outlook for 2023, following lower preliminary sales and earnings for the first nine months of the year. The company now expects a sales decline of approximately 17%, which is an increase from its previous forecast in the low to mid-teens percentage range. This aligns with the InvestingPro Tip that analysts anticipate a sales decline for the current year.

The firm also reduced its forecast for the underlying EBITDA margin to slightly above 28%, a decrease from an initial estimate of around 30%. Preliminary results show a consolidated revenue decrease of about 16% to €2.5 million ($2.6 million), and shifts in volume and product mix have led to a drop in the underlying EBITDA margin to €733 million. According to InvestingPro data, the company's revenue for LTM2023.Q2 stood at 4200.79M USD, with revenue growth of -0.79 %.

Despite these setbacks, Sartorius is projecting profitable growth for next year. This optimism is supported by the InvestingPro Tip that analysts predict the company will be profitable this year. The firm will provide quantitative guidance along with the full-year results for 2023 in January, at which point it will also revise its midterm targets.

The company is slated to release its nine-month results on Wednesday, October 19. InvestingPro data indicates that the next earnings date is indeed set for 2023-10-19. The current market cap (adjusted) for Sartorius is $17.32 billion, and it is trading with a P/E ratio of 24.22.

For more details and insightful tips, readers can explore InvestingPro's premium offerings, which include a comprehensive list of 15 tips for Sartorius. These tips provide a deeper understanding of the company's financial health and market position.

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