Italy's Recordati Q1 revenue rises on rare diseases business growth

Recordati Industria Chimica E Farmaceutica SpA

12/05/2026 17:57

Overview

Italy pharmaceutical group's Q1 2026 net revenue rose 4.9% yr/yr, driven by Rare Diseases business

Adjusted net income for Q1 2026 increased 7.2% yr/yr, aided by lower financial expenses

Free cash flow for Q1 2026 declined compared to prior year due to higher working capital absorption

Outlook

Recordati confirms FY 2026 net revenue guidance of €2.73-2.8 bln with FX headwind of ~-3.5%

Company sees FY 2026 EBITDA between €995 mln and €1.03 bln; margin +/-36.5% with FX headwind ~-4.0%

Recordati expects FY 2026 adjusted net income of €655-685 mln; margin +/-24.0%

Result Drivers

RARE DISEASES GROWTH - Strong volume growth in the Rare Diseases business, especially Endocrinology and Hemo-Oncology franchises, drove revenue gains

ISTURISA UPTAKE - Continued growth of Isturisa, with strong new patient uptake across geographies, particularly in the U.S.

ADVERSE FX IMPACT - Revenue growth was partially offset by adverse FX impact, mainly from U.S. dollar and Turkish lira devaluation

Company press release: ID:nGNE2xbG3l

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted Net Income
EUR 188.10 mln
Q1 EBITDA
EUR 283.60 mln
Q1 Free Cash Flow
EUR 92.10 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the pharmaceuticals peer group is "buy"

Wall Street's median 12-month price target for Recordati Industria Chimica e Farmaceutica SpA is €57.50, about 15.2% above its May 11 closing price of €49.92

The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 16 three months ago

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(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.)