With GlaxoSmithKline up 5% YTD, will its Q1 earnings also shine?

GlaxoSmithKline (NYSE:GSK) is scheduled to announce Q1 2023 financial results on Wednesday, April 26, before market open.

The consensus EPS estimate is $0.82 and the consensus revenue estimate is $8.21B.

Over the last two years, GSK (GSK) has had seven EPS beats and six revenue beats.

Over the last three months, annual EPS estimates have seen one upward and one downward revision. Revenue estimates have seen eight upward revisions and 12 downward.

In Q4 2022, GSK saw its non-GAAP EPS fall 6% YoY at constant exchange rates (CER) while total sales declined -3% Y/Y at CER to ~£7.38B (~$9.15B).

In that quarter, the vaccine business grew while speciality medicines dropped.

In early February during its Q4 earnings release, the British drugmaker also released its 2023 outlook. Adjusted EPS is expected to increase between 12% and 15%, at CER.

Wednesday's earnings call will also include a pipeline update. The US FDA is set to issue a decision on the company's respiratory syncytial virus (RSV) vaccine by May 3.

Investors should also pay attention to any M&A color. Earlier in April, GSK (GSK) said it was buying Canadian biotech Bellus Health for ~$2B.

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