NYSE$NVS
Novartis ADR · Q2 2026 earnings
Q2 2026 earnings · · Investor relations
Briefing
Novartis reported Q2 2026 net sales of $14.4 billion with core EPS of $2.41.
Novartis delivered solid Q2 2026 results with net sales growing 3% USD to $14.4 billion, driven by strong performance in priority brands like Kisqali, Kesimpta, Scemblix, and Pluvicto. Core operating income remained flat while GAAP operating income and net income declined. Full-year 2026 guidance was reaffirmed for low single-digit sales growth and low single-digit core operating income decline.
- Net sales rose 3% USD (+1% cc) to $14.408 billion, returning to growth.
- Core EPS was $2.41 (flat USD, -1% cc); GAAP EPS $1.71 (-17% USD).
- Core operating income margin reached 41.2%; free cash flow $5.6 billion.
- Priority brands including Kisqali (+43% cc), Scemblix (+89% cc) drove growth; FY guidance reaffirmed.
Headline financials
Revenue & EPS history
Novartis · Revenue · Quarterly
$14.4B
Revenue by segment
Novartis · $6.64B total across 6 segments · Q2 2026
- Cosentyx$1.82B—27.5%
- Kisqali$1.7B—25.5%
- Kesimpta$1.42B—21.5%
- Pluvicto$651M—9.8%
- Scemblix$562M—8.5%
- Leqvio$480M—7.2%
Forward guidance
Full-year 2026 guidance reaffirmed: net sales expected to grow low single-digit and core operating income expected to decline low single-digit.
Tailwinds
- Continued momentum in priority brands and recent launches.
- Pipeline progress with multiple upcoming readouts.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports
-0.2%
Avg return
Earnings day
-0.3%
Avg return
5 days after
+0.7%
Avg return
30 days after
57%
34 / 60 earnings
Positive
+7.4%
Q4 2017
Best reaction
-7.4%
Q4 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q1 2026 | -0.9% | +1.7% | +5.0% | |
| Q1 2025 | +0.7% | +1.5% | -0.0% | |
| Q3 2024 | -4.9% | -5.4% | -9.3% | |
| Q2 2024 | -5.1% | -3.7% | +2.6% | |
| Q1 2024 | +3.4% | +2.4% | +6.3% | |
| Q3 2023 | +0.8% | -2.6% | +2.5% | |
| Q2 2023 | +4.3% | +6.1% | +2.8% | |
| Q1 2023 | +1.9% | +2.0% | -2.8% | |
| Q4 2022 | -5.0% | -5.7% | -6.6% | |
| Q3 2022 | +2.4% | +3.9% | +12.3% | |
| Q2 2022 | +1.8% | +3.8% | +2.7% | |
| Q1 2022 | -1.1% | -2.7% | +0.9% | |
| Q4 2021 | -2.0% | -1.1% | -3.9% | |
| Q3 2021 | -0.8% | -0.7% | -1.7% | |
| Q2 2021 | +0.9% | +0.8% | +3.4% | |
| Q1 2021 | -1.1% | -2.9% | +0.8% | |
| Q4 2020 | -5.7% | -8.1% | -11.9% | |
| Q3 2020 | -6.9% | -7.2% | +5.9% | |
| Q2 2020 | -1.7% | -4.3% | -1.0% | |
| Q1 2020 | -4.3% | -6.9% | -3.7% | |
| Q4 2019 | +0.4% | -1.4% | -12.1% | |
| Q3 2019 | +0.1% | +0.9% | +4.6% | |
| Q2 2019 | +3.7% | +3.8% | -0.8% | |
| Q1 2019 | +6.2% | +6.9% | +15.3% | |
| Q4 2018 | +1.1% | +2.1% | +5.6% | |
| Q3 2018 | +2.2% | +3.2% | +2.9% | |
| Q2 2018 | +2.7% | +4.5% | +5.5% | |
| Q1 2018 | -4.7% | -5.8% | -5.7% | |
| Q4 2017 | +7.4% | +6.6% | -2.2% | |
| Q3 2017 | -5.3% | -6.0% | -1.7% | |
| Q2 2017 | +2.1% | +2.1% | -0.1% | |
| Q1 2017 | +2.3% | +3.2% | +9.0% | |
| Q4 2016 | +2.7% | +3.2% | +10.4% | |
| Q3 2016 | -5.7% | -5.8% | -8.8% | |
| Q2 2016 | +1.2% | +1.8% | -0.1% | |
| Q1 2016 | -0.1% | — | — | |
| Q4 2015 | -7.4% | — | — | |
| Q3 2015 | -1.3% | — | — | |
| Q2 2015 | -4.6% | — | — | |
| Q1 2015 | +0.8% | — | — | |
| Q4 2014 | +0.6% | — | — | |
| Q3 2014 | -0.4% | — | — | |
| Q2 2014 | +1.2% | — | — | |
| Q1 2014 | +3.6% | — | — | |
| Q4 2013 | +0.5% | — | — | |
| Q3 2013 | +1.0% | — | — | |
| Q2 2013 | +1.0% | — | — | |
| Q1 2013 | -0.3% | — | — | |
| Q4 2012 | +3.5% | — | — | |
| Q3 2012 | +0.8% | — | — | |
| Q2 2012 | +0.4% | — | — | |
| Q1 2012 | +1.6% | — | — | |
| Q4 2011 | -1.9% | — | — | |
| Q3 2011 | -3.3% | — | — | |
| Q2 2011 | +1.1% | — | — | |
| Q1 2011 | -0.4% | — | — | |
| Q4 2010 | -3.5% | — | — | |
| Q3 2010 | -1.5% | — | — | |
| Q2 2010 | +0.3% | — | — | |
| Q1 2010 | +0.3% | — | — |
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