Compared to Estimates, Merck (MRK) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2024, Merck (MRK) reported revenue of $16.11 billion, up 7.2% over the same period last year. EPS came in at $2.28, compared to -$2.06 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $15.9 billion, representing a surprise of +1.35%. The company delivered an EPS surprise of +5.56%, with the consensus EPS estimate being $2.16.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Merck performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Sales- Hospital Acute Care- Bridion - U.S. $351 million compared to the $332.59 million average estimate based on three analysts. The reported number represents a change of +17.4% year over year.
- Sales- Oncology- Keytruda - International: $2.86 billion versus the three-analyst average estimate of $2.83 billion. The reported number represents a year-over-year change of +18.7%.
- Sales- Diabetes- Janumet - U.S. $17 million versus the three-analyst average estimate of $58.09 million. The reported number represents a year-over-year change of -79.3%.
- Sales- Oncology- Alliance revenue- Lynparza - U.S. $153 million versus $162.06 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +6.3% change.
- Sales- Other Revenues: $222 million versus $181.02 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +82% change.
- Sales- Oncology- Keytruda: $7.27 billion versus $7.12 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +15.9% change.
- Sales- Vaccines- Gardasil: $2.48 billion compared to the $2.53 billion average estimate based on four analysts. The reported number represents a change of +0.8% year over year.
- Sales- Animal health: $1.48 billion versus the four-analyst average estimate of $1.52 billion. The reported number represents a year-over-year change of +1.8%.
- Sales- Vaccines- Vaxneuvance: $189 million compared to the $216.39 million average estimate based on three analysts.
- Sales- Oncology- Alliance revenue- Reblozyl: $90 million versus $79.78 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +91.5% change.
- Sales- Hospital Acute Care- Prevymis: $188 million compared to the $163.81 million average estimate based on three analysts. The reported number represents a change of +31.5% year over year.
- Sales- Hospital Acute Care- Zerbaxa: $62 million versus $61.77 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +14.8% change.
Shares of Merck have returned -0.1% over the past month versus the Zacks S&P 500 composite's +0.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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