Organon Q1 revenue $1.54B, net income $177M (-49%), adjusted EPS $1.08

Organon & Co.

2023-Q1 EPS reported $0.69 revenue$1,538,000,000

Revenue of $1,538M, down 2% as-reported but up 3% ex-FX vs Q1 2022; all three franchises grew on constant currency basis.
GAAP diluted EPS $0.69 (down 49% YoY); non-GAAP adjusted diluted EPS $1.08 (down 35% YoY); includes $0.03 negative impact from IPR&D costs.
Adjusted EBITDA $518M (down 20% YoY); margin 33.7% vs 41.3% in Q1 2022.
Board declared $0.28 quarterly dividend; voluntary $250M debt repayment on term loan.
Full year 2023 financial guidance ranges affirmed.

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