Sanofi (SNY) posted a $1.29 billion fourth-quarter profit on Friday. Net earnings were 51 cents on a per-share basis. Earnings after one-time expenses changes stood at 73 cents per share. The drugmaker’s sales were $11.19 billion for the year.
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The firm was able to gain $14.07 billion in earnings for the year or $5.61 per share. The income amounted to $41.17 billion.
The engine of potential earnings development is the fact that, in order to improve sustainability, the French drugmaker has vowed to slash costs even more. It is increasingly dependent on the development of Dupixent, an eczema drug. Coronavirus vaccine testing is progressing more slowly than its rivals. This month, the vaccine, developed by Sanofi and the British firm GlaxoSmithKline, would enter the second stage of clinical trials.
Sanofi has reported its 30 percent operating profit margin target by 2022, up from 27.1 percent in 2020. The company’s outlook for 2021 also appeared to be impressive as it anticipated a high single-digit percentage growth in earnings per share. For the full year 2020, it also recommended a higher annual dividend.
About the fact that Sanofi (SNY) shares have declined by 3% since the beginning of the year (at the time until the quarterly report was published), there is still considerable room for improvement, mostly due to the steady rise in performance. Since the middle of last year, the shares have been within a small range. Fixing above $50 per share would allow us to expect the Nasdaq to hit a multi-year high of around $55 per share.
