Organon & Co.'s (OGN) Q1 2022 Earnings Call Transcript

For the period ending March 31, 2022

May 5, 2022 8:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ladies and gentlemen, thank you for standing by. At this time, I would like to welcome everyone to the Organon First Quarter 2022 Earnings Conference Call. [Operator Instructions]. As a reminder, this call is being recorded. Thank you.

I would now like to turn the call over to Jennifer Halchak, Vice President, Investor Relations. Please begin your conference.

Jennifer Halchak

Thank you, Mary, and good morning, everyone. Thank you for joining Organon's first quarter 2022 earnings call. With me today are Kevin Ali, Organon's Chief Executive Officer, who will cover our strategy and operational highlights; and Matt Walsh, our Chief Financial Officer, who will review performance, guidance and capital allocation; Dr. Sandra Milligan, Organon's Head of R&D, will also be joining us for the Q&A portion of this call.

Today, we'll be referencing a presentation that will be visible during this call for those of you on our webcast. This presentation will also be available following this call on the Events and Presentations section of our Organon Investor Relations website at www.organon.com.

Before we begin, I would like to caution listeners that certain information discussed by management during this conference call will include forward-looking statements. Actual results could differ materially from those stated or implied by forward-looking statements due to risks and uncertainties associated with the company's business, which are discussed in the company's filings with the Securities and Exchange Commission, including our 10-K and subsequent periodic filings.

In addition, we will discuss certain non-GAAP financial measures on this call, which should be considered as a supplement to and not a substitute for financial measures prepared in accordance with GAAP. A reconciliation of these non-GAAP measures to the comparable GAAP measures is included in the press release and conference call presentation. I'd now like to turn the call over to our CEO, Kevin Ali.

Kevin Ali

Good morning, everyone, and thank you, Jen. Welcome to today's call, where we will talk about our first quarter 2022 results.

For the first quarter of 2022, revenue came in at $1.6 billion, up 8% at constant currency, and adjusted EBITDA was $647 million, representing a 41.3% adjusted EBITDA margin. We had a strong first quarter. The year is off to a great start, and we are reaffirming the full year guidance ranges we provided back in February.