Sanofi’s Q1 was mixed, but guidance stayed put

A quarter with a split screen

Sanofi just dropped its Q1 update, and the headline is a little like a movie review that starts with “solid performances” and ends with “could’ve used a tighter plot.” Net income from continuing operations fell to €1.59 billion from €1.72 billion a year ago, while basic EPS from continuing operations slipped to €1.32 from €1.39.

The part investors actually care about

The useful bit is that Sanofi reiterated its 2026 guidance. That matters because pharma stocks often trade less on one quarter’s emotional roller coaster and more on whether the long-term script still looks intact. If management keeps the outlook steady, the market usually treats weak-ish quarterly noise as a shrug rather than a siren.

What’s under the hood

The article says business net income rose, which hints that the core operating picture may be healthier than the statutory profit line suggests. That kind of setup can happen when one-off items, accounting quirks, or other non-core stuff muddy the view — basically, the financial equivalent of a selfie with a bad filter.

Big picture

For now, Sanofi looks like a company telling investors: “Yes, the quarter was messy. No, we’re not changing the map.” That’s not a fireworks moment, but in big-cap pharma, steady guidance can be half the battle.