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EarningsQ2 2026 Earnings Report
CH:ROP Q2 2026 EPS Results
Actual EPSCHF10.85
Consensus EPSCHF10.33
Beat/MissBeat by +CHF0.52
One Year Ago EPSCHF11.08
CH:ROP Q2 2026 Revenue Results
Actual RevenueCHF30.36B
Expected RevenueCHF15.55B
Beat/MissBeat by +CHF14.81B
YoY Revenue Growth-1.87%
Earnings Announcement Details
QuarterQ2 2026
Date07/23/2026
TimeBefore Open
Conference CallThursday, July 23, 2026
CH:ROP Upcoming Earnings
Roche Holding AG's next earnings date is estimated for February 4, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
CH:ROP Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operational and financial momentum (core operating profit +10%, margin expansion, robust cash flow) combined with substantial pipeline and regulatory momentum (5 FDA priority reviews, 80% Phase III success YTD, multiple product launches/CE marks, and strategic diagnostics M&A). Headwinds were acknowledged and specific: China diagnostics pricing reform, weaker respiratory season, currency translation effects, net debt increase from dividends/timing, competitive pressures (biosimilars) and some impairments. Overall, the positive operational and pipeline developments materially outweigh the challenges, and management maintained confident guidance (mid-single-digit sales growth, high-single-digit core EPS growth) while flagging manageable near-term risks.Company Guidance
Strong Profitability Expansion
Core operating profit increased +10% (CER) and core operating margin expanded by +1.7 percentage points; core EPS grew +9% — demonstrating margin expansion ahead of sales growth.
Solid Sales Growth at Constant Exchange Rates
Group sales growth reported at +6% (pharma +6% CER; diagnostics +3% CER); pharma sales reached CHF 23.6 billion (6% CER, 8% in USD, -1% in CHF).
Robust Cash Flow Generation
Operating free cash flow increased +21% (plus +2% in CHF) and free cash flow rose +58% (timing effects noted); strong cash generation underpins dividend increase and reinvestment.
Significant Pipeline and Regulatory Momentum
Five U.S. FDA priority reviews granted year-to-date; Phase III success rate reported at 80% YTD with two positive Phase III readouts in the quarter; multiple filings and near-term readouts expected (several Phase III events and NMEs planned).
Notable Clinical Wins — Oncology and Hematology
Positive Phase III KRASCENDO-1 (divarasib) showed superiority vs approved G12C inhibitors with PFS and OS improvements (OS reached statistical significance at interim); hematology franchise grew +14% CER driven by Hemlibra and Polivy uptake.
Diagnostics Product and M&A Progress
AXELIOS 1 sequencing solution launched (June 29) leveraging SBX chemistry; CE marks/launches for Elecsys pTau217 (Alzheimer’s) and Elecsys IGRA TB test; completed strategic acquisition of PathAI to augment digital pathology capabilities.
Obesity/CVRM Portfolio Advancement
Positive Phase II data for petrelintide (placebo-like tolerability) and enicepatide (48% of patients achieved >20% weight loss; 26% achieved >30% at highest dose); petrelintide Phase III decision taken and Phase III starts planned H2.
Lower-than-anticipated LOE Impact
Loss-of-exclusivity (LOE) impact in H1 was CHF 244 million and the company now expects LOE impact of roughly CHF 600 million for 2026 — a smaller headwind than earlier guidance.
CH:ROP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed