New Jersey-based Merck & Co. Inc. MRK a global research-driven pharmaceutical products company. Well known products in Merck’s portfolio include Remicade, Nasonex, Simponi, Vytorin and Zetia, Januvia and Janumet, Isentress, PegIntron, Maxalt, Cosopt/Trusopt, Temodar, Emend, Keytruda, Cozaar/Hyzaar, Zocor, Proscar, ProQuad, Gardasil, RotaTeq, Zostavax and NuvaRing.
However, like many of its peers, Merck is facing headwinds in the form of generic competition for several key products. The company sold off its Consumer Care business to Bayer for $14.2 billion in Oct 2014. Meanwhile, Merck acquired hepatitis C virus focused company Idenix Pharmaceuticals in Aug 2014 and Cubist Pharmaceuticals in 2015. Merck is also focusing on immuno-oncology.
Merck has a pretty good earnings track record with the company delivering positive earnings surprises in each of the last four quarters with an average surprise of 4.03%. Estimate movement has been static over the past 60 days.
Currently, Merck has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Beat: Merck surpassed first-quarter 2017 earnings expectations. The company reported EPS of 88 cents while our consensus called for EPS of 83 cents.
Revenues: Revenues in the reported quarter came below expectations. Merck posted revenues of $9.4 billion marginally above our consensus estimate of $9.3 billion.
2017 Outlook: Merck updated its 2017 earnings and revenues guidance. The company expects adjusted earnings in the range of $3.76-$3.88, an increase from the earlier figure of $3.72 to $3.87 per share, including approximately 1.5% negative foreign exchange impact. The Zacks Consensus Estimate stood at $3.83 per share.
Merck now expects revenue in the range of $39.1 - $40.3 billion, compared to the earlier forecast of $38.6 billion - $40.1 billion, including negative currency impact of approximately 1.5%. The sales guidance was in line with the Zacks Consensus Estimate of $39.7 billion.
Stock Price Impact: Shares were up in pre-market trading.
Check back later for our full write up on this MRK earnings report!
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Merck (MRK) Beats on Earnings in Q1, Ups view
New Jersey-based Merck & Co. Inc. MRK a global research-driven pharmaceutical products company. Well known products in Merck’s portfolio include Remicade, Nasonex, Simponi, Vytorin and Zetia, Januvia and Janumet, Isentress, PegIntron, Maxalt, Cosopt/Trusopt, Temodar, Emend, Keytruda, Cozaar/Hyzaar, Zocor, Proscar, ProQuad, Gardasil, RotaTeq, Zostavax and NuvaRing.
However, like many of its peers, Merck is facing headwinds in the form of generic competition for several key products. The company sold off its Consumer Care business to Bayer for $14.2 billion in Oct 2014. Meanwhile, Merck acquired hepatitis C virus focused company Idenix Pharmaceuticals in Aug 2014 and Cubist Pharmaceuticals in 2015. Merck is also focusing on immuno-oncology.
Merck has a pretty good earnings track record with the company delivering positive earnings surprises in each of the last four quarters with an average surprise of 4.03%. Estimate movement has been static over the past 60 days.
Currently, Merck has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Merck & Company, Inc. Price and EPS Surprise
Merck & Company, Inc. Price and EPS Surprise | Merck & Company, Inc. Quote
Earnings Beat: Merck surpassed first-quarter 2017 earnings expectations. The company reported EPS of 88 cents while our consensus called for EPS of 83 cents.
Revenues: Revenues in the reported quarter came below expectations. Merck posted revenues of $9.4 billion marginally above our consensus estimate of $9.3 billion.
2017 Outlook: Merck updated its 2017 earnings and revenues guidance. The company expects adjusted earnings in the range of $3.76-$3.88, an increase from the earlier figure of $3.72 to $3.87 per share, including approximately 1.5% negative foreign exchange impact. The Zacks Consensus Estimate stood at $3.83 per share.
Merck now expects revenue in the range of $39.1 - $40.3 billion, compared to the earlier forecast of $38.6 billion - $40.1 billion, including negative currency impact of approximately 1.5%. The sales guidance was in line with the Zacks Consensus Estimate of $39.7 billion.
Stock Price Impact: Shares were up in pre-market trading.
Check back later for our full write up on this MRK earnings report!