secwatch.observer — SEC 8-K summary
======================================

Issuer:     Organon & Co. (OGN)
CIK:        0001821825
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001104659-23-055788
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1821825/000110465923055788/0001104659-23-055788-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1821825/000110465923055788/tm2314412d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-055788

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer