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Organon (OGN) Q3 FY2023 earnings: revenue $1.5 billion, down 1.2% on the year

Organon & Co. (OGN) reported revenue of $1.5 billion for Q3 FY2023, the quarter ended 30 September 2023, down 1.2% on the same quarter a year earlier. Net income was $58 million, down 74.4% on the year, and diluted earnings per share $0.23. The figures are the company's own, from the 10-Q it filed with the SEC on 3 November 2023.

Revenue$1.5 billiondown 1.2%
Net income$58 milliondown 74.4%
Diluted EPS$0.23
QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Revenue1,519n/an/an/a
Cost of revenue612n/an/an/a
Gross profit907n/an/an/a
Gross margin59.7%n/an/a
Research and development137n/an/an/a
Selling, general and administrative538n/an/an/a
Interest expense134n/an/an/a
Pre-tax income80.0n/an/an/a
Income tax22.0n/an/an/a
Effective tax rate27.5%n/an/a
Net income58.0n/an/an/a
Net margin3.8%n/an/a
Diluted EPS$0.23n/an/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Operating cash flow261n/an/an/a
Capital expenditure55.0n/an/an/a
Free cash flow206n/an/an/a
Free cash flow margin13.6%n/an/a
Cash from investing-55.0n/an/an/a
Cash from financing-78.0n/an/an/a
Share-based compensation27.0n/an/an/a
Dividends paid74.0n/an/an/a
Dividend per share$0.28n/an/an/a
Diluted shares, weighted256mn/an/an/a
Shares outstanding at period end256mn/an/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Shareholders' equity-589n/an/an/a
Debt8,654n/an/an/a
Other liabilities2,947n/an/an/a
Total liabilities and equity11,012n/an/an/a
Fixed assets1,096n/an/an/a
Goodwill4,603n/an/an/a
Intangible assets561n/an/an/a
Cash and equivalents414n/an/an/a
Receivables1,648n/an/an/a
Inventory1,186n/an/an/a
Other assets1,504n/an/an/a
Total assets11,012n/an/an/a

Questions

What was Organon's revenue in Q3 FY2023?

Organon (OGN) reported revenue of $1.5 billion for Q3 FY2023, the quarter ended 30 September 2023, down 1.2% on the same quarter a year earlier.

How much did Organon earn in Q3 FY2023?

Net income for Q3 FY2023 was $58 million, down 74.4% on the year, and diluted earnings per share $0.23.

When did Organon report Q3 FY2023 results?

Organon filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 3 November 2023.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue1,5191,5981,6221,6071,5821,5921,5131,5941,6021,5071,4601,558
Cost of revenue612683665668659696672720745766677711
Gross profit907915957939923896841874857741783847
Gross margin60%57%59%58%58%56%56%55%53%49%54%54%
R&D13713411211611113096.095.084.091.093.090.0
SG&A538469431437422470420453415433424434
Interest expense134129131131126132124131128121111108
Pre-tax income80.0104236235207129101229243-148213183
Tax rate28%-425%15%17%-73%16%14%37%34%n/a31%41%
Net income58.054620119535910987.0145160-205146108
Net margin4%34%12%12%23%7%6%9%10%-14%10%7%
Diluted EPS$0.23$2.13$0.78$0.75$1.38$0.42$0.33$0.56$0.61-$0.79$0.55$0.40
Operating cash flow26139776.033214139075.0220264141225107
Capital expenditure55.079.046.032.042.055.032.039.046.045.037.042.0
Free cash flow20631830.030099.033543.018121896.018865.0
Dividends paid74.073.070.079.074.074.071.010.03.04.05.06.0
Shares outstanding256m256m256m257m258m258m258m260m260m260m263m263m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 3 November 2023, accession 0001821825-23-000013: the filing on EDGAR. All of Organon & Co.'s filings: EDGAR company page.

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