Lonza falls as unchanged sales outlook offsets margin target upgrade

Lonza AG

22/07/2026 08:13

** Shares in Lonza LONN.S are down 3.7% after the Swiss drug contract manufacturer raised its FY core profit margin guidance but left sales guidance unchanged, with H1 sales coming in slightly below expectations
** J.P.Morgan says H1 core EBITDA beat consensus by 4%, while sales missed expectations by 1%
** Lonza kept its 2026 constant-currency sales growth outlook of 11%-12% while raising its core EBITDA margin forecast to 33%-34% from above 32%
** "Overall, we expect the shares could underperform modestly today given no Sales guidance raise," JPM says
** Vontobel says "1H26 results were slightly below top-line expectations, but margins clearly exceeded consensus," with the margin beat driven by the advanced synthesis unit

($1 = 0.8123 Swiss francs)

 (Reporting by Kira Britten)
 ((Kira.britten@thomsonreuters.com))