GSK Plc (NYSE:GSK) reported third-quarter adjusted earnings of $1.47 per share (54.6 pence), beating the analyst consensus estimate of $1.40.
Revenue increased 4% year over year to $11.948 billion (8.87 billion pounds), exceeding the consensus estimate of $11.80 billion.
Specialty medicines revenue rose 14% to 3.87 billion pounds. HIV sales increased 9% to 2.12 billion pounds, or 10% at constant currency.
Vaccine Segment Slumps
Vaccine sales fell 4% to 2.583 billion pounds, due to lower Arexvy, Shingrix and influenza sales, partly offset by meningitis vaccines.
Shingrix sales fell 6% to 780 million pounds, driven by lower sales in International, primarily China.
Arexvy sales fell 22% to 195 million pounds, due to lower market demand, as well as returns provision adjustments in the U.S. in Q3 2025.
Meningitis vaccine sales jumped 11% to 599 million pounds, their highest-ever quarter, driven by continued post-launch uptake of Penmenvy and Bexsero CDC stockpile building and ordering patterns in the U.S.
Influenza vaccine sales decreased 18% to 177 million pounds, due to U.S. competitive pressure and delayed timing of deliveries.
General Medicines revenues of 2.43 billion pounds were broadly stable in the quarter, with growth in Trelegy offset by declines in the other Respiratory and Other General Medicines products.
Leadership Commentary on Accelerate Growth Restructuring
CEO Luke Miels said, “Finally, on simplification, we made progress on the Accelerate Growth program, helping to reallocate resources to invest in R&D and accelerate our late-stage development pipeline. Fundamentally, this will align our cost base with our evolving portfolio and help us accelerate growth and deliver value for patients and shareholders.”
In an earnings conference call, CFO Julie Brown said, “The quarter was impacted by a £0.3 billion accelerate growth charge. With the program to simplify and reallocate spend towards R&D now well underway, we’re moving at pace and ahead of schedule, and since July we have initiated a series of changes across the organization to streamline support services, simplify our supply chain, and reallocate resources, and we now expect charges of up to £1 billion in 2026.”
GSK Reaffirmed 2026 Guidance
GSK expects 2026 sales and core operating profit growth to reach the upper halves of its guidance ranges. However, it expects core earnings per share growth in the lower half of its range.
The company continues to forecast 2026 sales growth of 3% to 5%. It also expects core operating profit and core EPS to grow 7% to 9%.
GSK reaffirmed its outlook for specialty medicines sales to grow at a low double-digit rate.
The company expects vaccine sales to be broadly stable or grow at a low single-digit rate.
However, GSK expects the General Medicines segment to decline by a low- to mid-single-digit percentage.
GSK Stock Price Activity: GSK shares are trading lower by 3.52% at $49.15 at the time of publication on Wednesday, according to Benzinga Pro data.
Photo by HJBC via Shutterstock
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