Novartis AG (NVS)

Novartis AG beat expectations on both the top and bottom line in the fiscal second quarter of 2026, reported on July 21, 2026, as revenue fell near 3% to about $14.4 billion, down from about $14.8 billion a year ago, but still topped the about $14.1 billion consensus by +2.4%. Adjusted EPS came in at $2.41, ahead of the $2.17 estimate by +11.1% and down 0.4% from $2.42 a year earlier, while net income fell about 19% to roughly $3.3 billion from about $4.0 billion. Gross profit reached about $10.7 billion, with gross margin near 75% and operating margin about 33%, and the company generated operating cash flow of about $5.9 billion while paying about $2.9 billion in dividends. Consensus for the next period calls for EPS of $2.26 on revenue of $14.57 billion.