GSK plc (GSK) Q3 2022 Earnings Call Transcript

GSK plc (NYSE:GSK) Q3 2022 Earnings Conference Call November 2, 2022 8:00 AM ET

Company Participants

Nick Stone - Head, Global Investor Relations

Emma Walmsley - CEO & Director

Tony Wood - Chief Scientific Officer

Luke Miels - Chief Commercial Officer

Deborah Waterhouse - CEO, ViiV Healthcare

Iain Mackay - CFO & Executive Director

Conference Call Participants

James Gordon - JPMorgan Chase & Co.

Simon Baker - Redburn

Richard Parkes - BNP Paribas Exane

Emmanuel Papadakis - Deutsche Bank

Stephen Scala - Cowen and Company

Peter Welford - Jefferies

Timothy Anderson - Wolfe Research

Emily Field - Barclays Bank

Kerry Holford - Berenberg

Michael Leuchten - UBS

Graham Parry - Bank of America Merrill Lynch

Andrew Baum - Citi

Jo Walton - Crédit Suisse

Keyur Parekh - Goldman Sachs

Operator

Good afternoon, ladies and gentlemen, and welcome to the Analyst Call for the GSK Third Quarter 2022 Results.

I will now hand you over to Nick Stone, Head of Global Investor Relations, who will introduce today's session. Nick, please go ahead.

Nick Stone

Thank you, operator. Hello, everyone. It's Nick, as just mentioned. Welcome to our year-to-date and Q3 2022 conference call and webcast for investors and analysts. Earlier today, the presentation was posted to gsk.com. And it was also sent by e-mail to our distribution list.

Please turn to Slide 2. This is the usual safe harbor statement, and we'll be making comments on our performance using constant exchange rates, or CER, unless stated otherwise. As a reminder, the Consumer Healthcare business was demerged on the 18th of July to form Haleon. And as a result, we are today presenting continuing operations for GSK.

Turning to Slide 3. This is today's agenda, where we plan to cover all aspects of our year-to-date and Q3 2022 results. The presentation will last approximately 35 minutes, with around 40 minutes for questions. [Operator Instructions].

Today, our speakers are Emma Walmsley, Tony Wood on the phone, Luke Miels, Deborah Waterhouse and Iain Mackay. The Q&A portion of the call will also be joined by David Redfern.

Turning to Slide 4. I'll now hand the call over to Emma.

Emma Walmsley

Thanks, Nick, and hello to everyone joining our Q3 conference call today. Please turn to the next slide. I'm very pleased with today's results, which demonstrate that our strategy is driving the step change in performance and landmark year we committed to. Year-to-date, we've delivered double-digit sales growth of 19%, adjusted operating profit growth of 16%, adjusted EPS growth of 20% and strong free cash flow of GBP 2.5 billion. This broad-based momentum and our continued pipeline progress support my strong confidence heading into 2023 and in our medium-term outlook and growth through the decade.