EURONEXT-PAR$SNY
Sanofi · Q1 2026 earnings
Q1 2026 earnings · · Before market open · Investor relations
Briefing
Sanofi Q1 2026: €10.5B sales (+13.6% CER), business EPS €1.88 as Dupixent tops €4B
Sanofi reported Q1 2026 net sales of €10,509 million, up 13.6% at constant exchange rates and 6.2% at actual rates, with business earnings per share of €1.88 (+14.0% CER). Business operating income was €2,967 million (+10.9% CER) on a 28.6% margin. Dupixent sales rose 30.8% to €4.2 billion while pharma launches reached €1.2 billion (+49.6%), led by Ayvakit, ALTUVIIIO, and Sarclisa. Vaccines sales increased 2.1% to €1.3 billion, benefiting from the Dynavax acquisition and Heplisav-B. IFRS net income was €1,614 million and IFRS EPS €1.34; free cash flow was €1,054 million. The company obtained five immunology regulatory approvals and positive readouts for venglustat and lunsekimig. Sanofi reaffirmed 2026 guidance for high single-digit sales growth and business EPS growing slightly faster than sales at constant exchange rates.
- Net sales were €10.51B (+13.6% CER); business EPS €1.88 (+14.0% CER) with business operating income €2.97B.
- Dupixent sales grew 30.8% to €4.2B; pharma launches totaled €1.17B (+49.6%).
- US sales rose 26.2% to €5.29B; Europe +5.9% to €2.16B; Rest of World +0.2% to €3.06B.
- Five regulatory approvals in immunology; positive phase 3 venglustat and phase 2 lunsekimig readouts.
- FY 2026 guidance reaffirmed: high single-digit sales growth and business EPS slightly above sales growth at CER.
Headline financials
Revenue & EPS history
Sanofi · Revenue · Quarterly
€10.5B
Revenue by segment
Sanofi · €6.67B total across 3 segments · Q1 2026
- Dupixent€4.2B—63.0%
- Vaccines€1.3B—19.5%
- Pharma launches€1.17B—17.6%
Forward guidance
Sanofi reaffirmed 2026 guidance for high single-digit percentage sales growth at constant exchange rates and business EPS growing slightly faster than sales before share buyback, delivering profitable growth.
Tailwinds
- Strong Dupixent and launch momentum; Dynavax acquisition expands adult immunization
- Pipeline progress with five immunology approvals and positive rare-disease readouts
Headwinds
- Currency headwinds estimated at roughly -2% on sales and -3% on business EPS at April 2026 rates
- Higher Regeneron profit sharing lifted other operating expenses (+62.4%)
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2026
-0.5%
Avg return
Earnings day
-0.3%
Avg return
5 days after
+1.5%
Avg return
30 days after
44%
17 / 39 earnings
Positive
+6.1%
Q4 2016
Best reaction
-15.9%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.0% | -2.0% | +64.0% | |
| Q3 2025 | +2.2% | +1.6% | -1.5% | |
| H1 2025 | -6.4% | -2.9% | +0.5% | |
| Q2 2024 | +2.3% | +1.0% | +9.8% | |
| Q4 2023 | -5.4% | -5.7% | -5.2% | |
| Q3 2023 | -15.9% | -13.1% | -11.5% | |
| Q2 2023 | -0.3% | -3.8% | -0.2% | |
| Q1 2023 | -4.6% | -5.1% | -6.6% | |
| Q4 2022 | -2.9% | +1.0% | +1.1% | |
| Q3 2022 | +4.0% | +3.3% | +9.2% | |
| Q2 2022 | -2.4% | -4.2% | -19.8% | |
| Q1 2022 | -3.8% | -1.7% | +1.5% | |
| Q4 2021 | +1.1% | +2.3% | -7.6% | |
| Q2 2021 | -1.0% | +4.8% | -2.6% | |
| Q3 2021 | +1.7% | +4.8% | -2.6% | |
| Q1 2021 | +2.2% | -1.1% | -0.4% | |
| Q4 2020 | +3.2% | +2.0% | -1.1% | |
| Q2 2020 | +1.3% | +3.1% | +10.8% | |
| Q3 2020 | -1.8% | +3.1% | +10.8% | |
| Q1 2020 | +4.7% | -2.6% | -2.5% | |
| Q4 2019 | +3.5% | +3.9% | -1.8% | |
| Q3 2019 | -3.8% | -3.8% | -1.6% | |
| Q2 2019 | -0.7% | -2.5% | +1.6% | |
| Q1 2019 | +5.2% | +5.3% | +2.6% | |
| Q4 2018 | -1.7% | -1.5% | -1.1% | |
| Q3 2018 | +4.4% | +3.6% | +4.9% | |
| Q2 2018 | +2.2% | +0.2% | +1.4% | |
| Q1 2018 | -2.6% | -3.5% | -5.2% | |
| Q4 2017 | -6.2% | -6.0% | -4.1% | |
| Q3 2017 | -1.6% | -1.9% | -4.0% | |
| Q2 2017 | -1.1% | +1.1% | +1.3% | |
| Q1 2017 | +0.7% | +1.9% | +4.5% | |
| Q4 2016 | +6.1% | +5.7% | +9.1% | |
| Q3 2016 | +4.4% | +6.7% | +7.0% | |
| Q2 2016 | -0.3% | -3.9% | -8.9% | |
| Q1 2016 | -3.2% | — | — | |
| Q4 2015 | -1.8% | — | — | |
| Q3 2015 | -2.2% | — | — | |
| Q2 2015 | +2.6% | — | — | |
| Q1 2015 | — | — | — |
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