Almirall opens the week with a full earnings calendar, shares steady ahead of Q2 update

By Mark Bergmann, Earnings & Calendar desk. Reviewed prior to publication on 2026-06-29, 09:51.

Almirall (ES0157097017) opens the week with a clear earnings focus. The Spanish dermatology specialist, listed on the Bolsa de Madrid, is heading towards its Q2 2026 results with consensus expectations for moderate revenue growth and stable operating margins, according to recent data compiled by MarketScreener.

Upcoming earnings and key dates

Almirall is expected to report its Q2 2026 figures in late July, based on the company’s financial calendar and prior-year reporting pattern. The group typically publishes first-half results around the last week of July, with last year’s H1 2025 numbers released on July 29, 2025, as shown on its investor relations page.

For the upcoming quarter, analyst aggregates indicate low single-digit revenue growth compared with the same period last year, reflecting a steady dermatology portfolio in Europe and the US. Operating margin is projected to remain broadly in line with the prior year’s mid-teens level, after Almirall reported an EBITDA margin of around 16 percent for full-year 2024, according to consensus summaries.

Consensus expectations and peer comparison

Analyst coverage of Almirall remains relatively concentrated, with a cluster of European brokerages such as Deutsche Bank and UBS following the stock alongside Spanish houses. Recent consensus data show a mix of Buy and Hold recommendations, with the average 12-month target price implying limited upside from current levels, based on MarketScreener’s aggregation. This places Almirall in a cautious stance compared with larger European pharma peers like Sanofi and Novartis, which carry more diversified pipelines.

In dermatology, Almirall competes with peers such as Leo Pharma and Galderma, although these are not listed, making sector comparison more reliant on large-cap benchmarks. Sector commentary from Reuters on European healthcare suggests a muted but stable outlook for specialty pharma names in 2026, as pricing pressure remains contained and innovation in skin disease treatments supports mid-term growth.

How Almirall makes its money

Almirall generates most of its revenue from prescription dermatology medicines, including treatments for psoriasis, atopic dermatitis and actinic keratosis. Key products include the psoriasis drug Skilarence (dimethyl fumarate) and the actinic keratosis therapy Klisyri (tirbanibulin), which are marketed in several European countries and the US. The company also maintains a smaller portfolio of respiratory and other specialty medicines, but dermatology is the core driver of earnings.

Where the shares trade today

Almirall shares (ES0157097017) trade on the Bolsa de Madrid under the ticker ALM. As of 2026-06-29, 09:30, the shares are quoted around 9.50 euros, according to data from BME’s official price feed and financial portals such as investing.com.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell securities. All data and estimates are based on sources considered reliable but cannot be guaranteed.