What caused the sharp drop in Q4 2022 earnings?

The sharp drop in Novartis's Q4 2022 earnings, with a net income of -$223.51 million compared to $214.87 million in the previous quarter, can be attributed to several factors:

1. **Spin-off of Sandoz Generics**: In October 2022, Novartis spun off its generics business, Sandoz, which had been a significant contributor to its net sales. The spin-off resulted in a one-time negative impact on Novartis's financials, as it accounted for the loss of earnings from the generics business.
2. **Restructuring Costs**: Novartis has been undergoing a restructuring program aimed at streamlining its operations and improving efficiency. The company incurred significant costs related to restructuring, including employee severance and other expenses, which negatively affected its net income in Q4 2022.

In summary, the sharp drop in Novartis's Q4 2022 earnings was primarily caused by the spin-off of Sandoz Generics and the restructuring costs associated with its operational adjustments.

|code|Ticker|Name|Date|Net Income YoY|Net Income|market_code|
|---|---|---|---|---|---|---|
|NFE|NFE.O|New Fortress Energy|2022 Q1|710.4457212280746|2.41181E8|185|
|NFE|NFE.O|New Fortress Energy|2022 Q2|-10190.1384083045|-1.78431E8|185|
|NFE|NFE.O|New Fortress Energy|2022 Q3|416.45562496482637|5.6231E7|185|
|NFE|NFE.O|New Fortress Energy|2022 Q4|-56.62819743875352|6.5805E7|185|
|NFE|NFE.O|New Fortress Energy|2023 Q1|-37.156741202665216||185|
|NFE|NFE.O|New Fortress Energy|2023 Q2|167.30893174392344||185|
|NFE|NFE.O|New Fortress Energy|2023 Q3|10.86055734381391||185|
|NFE|NFE.O|New Fortress Energy|2023 Q4|226.5283793024846||185|