French medical imaging firm Guerbet's 9M revenue slips on China sales drop

By Reuters News


Overview

  • France medical imaging firm's 9-month 2026 revenue fell 1.3% at CER and like-for-like

  • Revenue decline driven by lower China sales amid healthcare market restructuring

  • Company confirmed full-year financial targets, including restated EBITDA margin of around 8%


Outlook

  • Guerbet confirms 2026 revenue to be stable or show slight decrease at CER and like-for-like

  • Company expects 2026 restated EBITDA margin rate of around 8%, including €35 mln remediation costs

  • Guerbet anticipates strongly negative 2026 free cash flow of between -€50 mln and -€70 mln


Result Drivers

  • CHINA SALES CONTRACTION - Co said revenue decline was mainly due to lower sales in China, where healthcare market restructuring and reduced spending led to a sharp drop in demand

  • INTERVENTIONAL RADIOLOGY GROWTH - Revenue from Interventional Radiology rose 6.6% at CER, driven by strong sales of Lipiodol in the vascular embolization market

  • MRI SUBCONTRACTING SLOWDOWN - MRI revenue decline in Q3 was due to a planned slowdown in subcontracting activities at Gadopiclenol, as part of a staged reduction in Fill & Finish and API production


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EBITDA Margin

8.00%


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the advanced medical equipment & technology peer group is "buy."

  • Wall Street's median 12-month price target for Guerbet SA is €8.00, about 37.7% above its October 21 closing price of €5.81

  • The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 7 three months ago


Reuters Recommended Reads

  • Oct 22 - France's Sartorius Stedim Biotech 9-month revenue up 6.5%

  • Oct 22 - France's Ipsen Q3 sales rise 28% driven by core portfolio

  • Oct 21 - Thermo Fisher Q3 revenue, adj profit beat estimates after new product launches


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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