AstraZeneca Q3 Revenue Up 7% at CER, Core EPS Up 19%; FY26 Guidance Reconfirmed and $2.0bn Restructuring Launched
AZN sits 19% above its 52-week low of $153.413.
Summary
AstraZeneca grew Q3 revenue 7% at CER and Core EPS 19%, reconfirmed full-year guidance, and announced a restructuring programme costing up to $2.0bn to save $1.5bn a year by 2029.
Key Events · Earnings and Guidance · AZN
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Q3 Revenue Grows 7% at CER
Q3 2026 Total Revenue was $16,209m, up 7% at CER, as Oncology product sales rose 15% at CER and offset a 20% CER decline in Cardiovascular, Renal & Metabolism on Farxiga loss of exclusivity and China VBP.
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Core EPS Up 19% at CER
Q3 Core EPS was $2.79 (+19% at CER) and Reported EPS $2.02 (+26% at CER); 9M Core EPS reached $8.00, up 14% at CER.
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FY26 Guidance Reconfirmed
Total Revenue is still expected to grow mid-to-high single digit and Core EPS low double digit at CER, with a Core tax rate of 18-22%.
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$2.0bn Restructuring Programme Launched
The Reshaping for Sustainable Growth programme carries up to $2.0bn of one-time costs for $1.5bn of annualised pre-tax run-rate benefits, with activities essentially complete by the end of 2029 and savings reinvested in the pipeline.
Analysis · AZN · Life Sciences
Management kept full-year guidance intact rather than trimming it, with revenue up 7% at CER and Core EPS up 19% in the quarter keeping AstraZeneca on the trajectory it had set out. The larger new item is the Reshaping for Sustainable Growth programme: up to $2.0bn of one-time restructuring costs to deliver $1.5bn of annualised pre-tax savings by the end of 2029, with the money earmarked for the pipeline rather than the dividend. Against that, the quarter carries real blemishes — Farxiga sales fell 25% on US loss of exclusivity and China volume-based procurement, Lynparza slipped 3%, and the SERENA-4 and AWAKE trials were discontinued. Legal overhang comes from a $392m final judgment in the Syntimmune litigation and a newly unsealed False Claims Act suit over Fasenra and Tezspire promotion, though AstraZeneca intends to appeal the judgment. Next scheduled disclosure is FY and Q4 results on 9 February 2027.
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At the time of this filing, AZN was trading at $183.18 on NYSE in the Life Sciences sector, with a market capitalization of approximately $270.5B. The 52-week trading range was $153.41 to $212.71. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.