Companies /Healthcare
Novartis AG ADR
NYSE: NVS Drug Manufacturers - General
$156.08
▼ $0.78 (−0.50%) today
Markets closed · 11:29pm ET

Novartis (NVS) Q3 2026 Earnings

Reported Oct 27, 2026, 6:08am ET · SEC source
$2.46
Beat +9.74%
EPS · est. $2.24 Adjusted

Core EPS excludes Q3 core adjustments of USD 4,193 million. These include a USD 1.94 billion partial impairment of the del-desiran IPR&D asset and an onerous long-term supply contract provision of USD 0.6 billion. IFRS diluted EPS was USD 0.63.

$14.5B
Miss −0.23%
Revenue · est. $14.6B
2 quarters
Consecutive EPS beats

How Did NVS Stock React to Q3 2026 Earnings?

% change · around the report
−1.6%−0.8%0+0.8%Oct 27Oct 28report 6:08am ETearnings+0.7%−0.2%
−1.6%−0.8%0+0.8%Oct 27Oct 28earnings+0.7%−0.2%
NVS −0.2%S&P 500 +0.7%
−1%0+1%Oct 27Oct 28report 6:08am ETearnings+1.3%−0.2%
−1%0+1%Oct 27Oct 28earnings+1.3%−0.2%
NVS −0.2%NASDAQ +1.3%
−1.6%−0.8%0+0.8%Oct 26Oct 28report 6:08am ETearnings+0.5%−0.1%
−1.6%−0.8%0+0.8%Oct 26Oct 28earnings+0.5%−0.1%
NVS −0.1%S&P 500 +0.5%
−1%0+1%+2%Oct 26Oct 28report 6:08am ETearnings+1.0%−0.1%
−1%0+1%+2%Oct 26Oct 28earnings+1.0%−0.1%
NVS −0.1%NASDAQ +1.0%
+1.98%
Day of report
−0.50%
Next session

Did NVS Beat Earnings? Q3 2026 Results

Yes. Novartis reported Q3 2026 earnings of $2.46 a share on Oct 27, 2026, beating the $2.24 consensus estimate by 9.7%. Revenue was $14.5B against a $14.6B estimate.

Novartis delivered a stronger-than-expected profit performance in Q3 2026, even as a billion-dollar pipeline setback cast a shadow over statutory results. Adjusted diluted EPS came in at $2.46, beating the $2.24 consensus estimate by 9.74%, while net sales of $14.52 billion rose 1.1% year over year but fell just short of the $14.56 billion analysts had forecast, a miss of 0.23%. The divergence between core and IFRS results was stark: a $1.94 billion partial impairment on the del-desiran asset, triggered after the Phase III HARBOR study missed its primary endpoint in myotonic dystrophy type 1, along with a $600 million onerous supply contract provision, drove total core adjustments to $4.19 billion and pushed IFRS operating income sharply lower. Core profitability, however, held up well, with volume-led growth of 14 percentage points fueling an 11% rise in core operating income and margin expanding to 41.6% of net sales. CEO Vas Narasimhan indicated the company remains on track for its mid- and long-term outlook, with Kisqali, Scemblix, and Leqvio among the key brands sustaining momentum.

Key Takeaways
  • Volume growth contributed 14 percentage points to sales, offset by 9 points from generic competition and 1 point from pricing
  • Strong growth from Kisqali, Kesimpta, Scemblix, Leqvio, Cosentyx, Pluvicto and Fabhalta
  • Generic competition hit Entresto (down 38%) and Promacta (down 61%); Tasigna and Lucentis also declined
  • Higher other expense from onerous contract provisions and restructuring
  • Interest expense rose on higher financial debt
  • Core margin expanded to 41.6% of net sales on higher sales and SG&A productivity

NVS YoY Financials

Q3 2026 vs Q3 2025 · SEC filings Q3 2025 Q3 2026
$0$4.0B$8.0B$12.0B$14.4B$14.5BRevenue$10.8B$11.4BGross Profit$4.5B$1.8BOperating Income$3.9B$1.2BNet Income
$0$4.0B$8.0B$12.0BRevenueGross ProfitOperating IncomeNet Income
NVS income statement, Q3 2026 versus Q3 2025
Metric Q3 2026 Q3 2025 Year over year
Revenue $14.5B $14.4B +1.1%
Gross Profit $11.4B $10.8B +5.6%
Operating Income $1.8B $4.5B −59.1%
Net Income $1.2B $3.9B −69.4%

NVS Revenue by Segment

Entresto$1.2B−38.0%
Cosentyx$1.9B+9.0%
Kisqali$1.8B+37.0%
Kesimpta$1.5B+21.0%
Pluvicto$674.0M+20.0%
Scemblix$593.0M+66.0%
Ilaris$591.0M+25.0%
Promacta/Revolade$142.0M−61.0%

NVS Revenue by Geography

Rest of World
United States$6.4B+7.0%
Europe$4.3B+1.0%
Asia/Africa/Australasia$2.8B+6.0%
Asia Pacific
China$1.2B+25.0%
Canada and Latin America$952.0M+0.0%
Americas

Figures from SEC filings and company reports. Not investment advice.