Categories Earnings, Health Care
Merck’s (MRK) Q3 results beat estimates; sales boosted by oncology and vaccines
Merck (NYSE: MRK) surpassed analysts’ expectations for revenue and earnings in the third quarter of 2019, sending the shares climbing 2.5% in premarket hours on Tuesday.
Worldwide sales rose 15% year-over-year to $12.4 billion, beating estimates of $11.6 billion. Excluding foreign exchange impacts, sales grew 16%. Sales growth was driven by strength in oncology and human health vaccines.
On a GAAP basis, net income fell 3% to $1.9 billion while EPS rose 1% to $0.74. Adjusted net income grew 22% to $3.8 billion. Adjusted EPS increased 27% to $1.51, topping forecasts of $1.24.
Pharmaceutical sales increased 15% year-over-year to $11.1 billion, driven by oncology and vaccines. During the quarter, KEYTRUDA sales grew 62% to $3.1 billion and human health vaccines increased 17% to $2.5 billion. Pharma sales were negatively impacted by the loss of market exclusivity for some products as well as lower sales in JANUVIA and JANUMET.
Animal Health sales grew 10% to $1.1 billion, mainly driven by livestock as well as growth in companion animal products.
Also read: Pfizer Q3 2019 Earnings Report
R&D expenses, on a GAAP basis, increased 55% to $3.2 billion versus the prior-year period, driven mainly by a $982 million charge related to the Peloton acquisition and higher clinical development expenses.
For the full year of 2019, Merck narrowed and raised its revenue guidance to a range of $46.5 billion to $47 billion. This compares to the previous range of $45.2 billion to $46.2 billion. The company narrowed and reduced its GAAP EPS outlook to a range of $3.75-3.80, versus the prior outlook of $3.78-3.88. Merck narrowed and raised its adjusted EPS guidance to a range of $5.12-5.17, which compares to the previous range of $4.84-4.94.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
DRI Earnings: Darden Restaurants’ Q2 2026 sales and profit rise YoY
Darden Restaurants, Inc. (NYSE: DRI), a leading fine dining restaurant chain, on Thursday reported an increase in sales and adjusted earnings for the second quarter of fiscal 2026. Total sales
CarMax (KMX) Q3 2026 earnings drop on lower sales; results beat estimates
Used car retailer CarMax, Inc. (NYSE: KMX) on Thursday reported a decline in earnings for the third quarter of fiscal 2026, hurt by lower sales. However, both revenues and earnings
ACN Earnings: Key quarterly highlights from Accenture’s Q1 2026 financial results
Accenture (NYSE: ACN) reported its first quarter 2026 earnings results today. Revenues of $18.7 billion increased 6% in US dollars and 5% in local currency compared to the same period a
Comments
Comments are closed.