Global pharmaceutical company Merck (NYSE: MRK) will be reporting results tomorrow before market hours. Here’s what to expect.
Merck beat analysts’ revenue expectations by 1.3% last quarter, reporting revenues of $15.62 billion, up 6.8% year on year. It was a slower quarter for the company, with full-year revenue guidance missing analysts’ expectations.
Is Merck a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Merck’s revenue to decline 2.9% year on year to $15.32 billion, a reversal from the 8.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.14 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Merck has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 2.6% on average.
Looking at Merck’s peers in the pharmaceuticals segment, only Johnson & Johnson has reported results so far. It beat analysts’ revenue estimates by 1.5%, delivering year-on-year sales growth of 2.4%. The stock price was unchanged following the results.
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